President Muhammadu Buhari has disclosed that his administration inherited a country that had been robbed to the last coffers, hence leaving an ailing economy that must be nurtured and endured for some time before it stabilises.
He further said his administration borrows an average of N600 billion every month to augment and pay workers’ salaries.
President Buhari stated this at the opening ceremony of the Evangelical Church Winning All, ECWA, 63rd General Church Council, GCC, held at ECWA headquarters in Jos yesterday.
The president, who was represented at the occasion by the Secretary to the Government of the Federation, Engr. David Babachir Lawal, said the government “at most borrows N600 billion on the average monthly. If you look at monies coming from the federation allocations, even for the states, federal government sometimes we get N130billion and sometimes if lucky N200billion and we have an expenditure profile of roughly N800 and N900 billion. Naturally, you need to augment sources from everywhere and from wherever you can find it.
“There are so many avenues; I’m talking about local borrowings, not international. There are ways and means to raise the money, because the monies coming from the federal allocation is not enough and the figure is not fixed; it varies from month to month; it depends on what is able to get into the treasury and our own share of it, just like the states; and you remember that there was a time Osun State got N55million in a month from the federation allocation and the state has a salary bill of over 4billion in a month. So the problems are too many.”
He assured all citizens that given the desired cooperation, trust and cooperation, Nigeria would be revived within the shortest possible time.
The president called on the church to join government in its fight against corruption by preaching the gospel that would make people desist from corrupt tendencies and embrace honesty, transparency and accountability.
According to him, this government came into power at the brink of the collapse of our nation, which had over the years been riddled by corruption, insurgency, youth unemployment and economic meltdown.
He commended the immense contribution of ECWA to the development of the country, particularly in assisting the church in prayers which led to a free and fair election and the smooth transition process.
Speaking on unemployment, the president said government was still strategising to open up industrial sector and create employment opportunities for the teeming youths, by encouraging all agencies and parastatals as well as foreign investors to open up more employment opportunities and skill acquisition activities in the country.
He further stressed: “Likewise in the area of our economy, efforts are being geared towards diversification into viable areas of agriculture and solid minerals so as to save our economy from total dependence on oil.”
According to him, “all these efforts require the enabling peaceful environment which cannot be achieved without the sustained prayers of all faith-based organisations of which this church is one.”

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