Minister of Transport, Mr. Rotimi Amaechi has explained that Nigeria will soon overcome the present economic challenges adding that the nation’s economy has not collapsed as being speculated.
The minister who stated this recently at the Business Eye Roundtable Discussion tiled, “Nigerian Economy 2016 : Charting way forward”, said “We are going to have tough time in 2016, because the crude oil benchmark that the Federal Government fixed for the Budget is less than what the price is right now
“The Federal Government fixed N38 per barrel while the price now is less than N30 per barrel. Nevertheless, Nigerian economy has not bottom out as some people do say. With the corruption fight by Buhari’s administration and blocking of leakages, the economy will bounce back with time, but individuals have to make sacrifices.”
He said, “If Nigerians had revolted during the period that public funds were missing and stolen things would not have been like this. He stated that the missing $49 billion oil revenue, which the former Governor of the Central Bank of Nigeria, Sanusi Lamido, alleged that the Nigerian National Petroleum Corporation did not remit into the Federation Account, would be looked into.
“Even before Sanusi and President Goodluck Jonathan began to quarrel, I had to leak that letter. Sanusi wrote that letter to the President in September, I leaked it sometime in January, and that letter was personal: ‘Mr. President, $49 billion was missing,’ and I got a copy of that letter. “Instead of the Federal Government to say we are going to address this, they began to debate with the CBN governor and Nigerians join in the debate. Oh, it is not possible. Now, they have seen that is possible.”
Also speaking, Commissioner of Finance, Lagos State Mustapha Akinkunmi, said, “Lagos State is doing well compared to other states because of prudent management.
We are not going to increase tax given the state of the economy. We are doing well because of the efficient collection of taxes; we are going to deploy more technology and use private sector for the collection. Our budget is 24 per cent higher than the previous year.

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