Buhari urged to constitute economic experts to save Nigeria from depression

Chairman of Champions Newspaper, Chief Emmanuel Iwuanyanwu, has urged President Muhammadu Buhari to, as a matter of urgency, consider setting up committee of economic experts that can bail out Nigeria from her economic recession.

He made this statement on the occasion of the conferment of 2016 Nelson Madela Leadership Award of Icon of Hope to African Youths Parliament (AYP) on him (Iwuanyanwu) in Owerri, Imo State capital.

According to him, so many countries in the world, both in the West and Africa, have suffered this type of economic depression and they were able to overcome it.

He pointed out that when former President Olusegun Obasanjo was sworn into office in 1999, he was equally faced with this kind of challenge when the military handed over power to him, saying he quickly assembled financial experts which included Dr Ngozi Okonji Iweala, who then was the managing director of World Bank which assisted to bail the country out of economic woe.

He pointed out that it was unfortunate that the president came to power when the price of oil came down poorly, adding that the situation could happen to anybody and urged Nigeria to support him in proferring solution to the financial predicaments the nation found itself.

Chief Iwuanyawu condemned a situation whereby money was being dumped in the Central Bank of Nigeria courtesy the introduction of Treasure Security Account (TSA) that is now affecting the commercial banks which sack their workers and find it difficult to give out loans to business men and women.