Economy: Do What Obasanjo Did – Agbakoba To Tinubu

“President Tinubu must reverse the trend by maximizing crude oil outputs, removing theinternational oil companiesfrom control of our hydrocarbons revenue, paying down debts and hedging the Naira against the dollar with crude oil dollars.

“Second and most important was that President Obasanjo understood what is called public sector borrowing requirements and how much was needed to sustain the National system.” He added that the federal government must have clear vision of how to effectively maximize revenue by channeling all funds from crude oils to important projects.

“So quite simply president Tinubu should maximize crude oil production to at least 2.4 million barrels a day, pay down debts, apply funds to meet national needs.

Funds from sales of crude propped the Naira value to the dollar, the government was able to get things done without borrowing but using crude oil revenue.

Agbakoba explained that if crude oil production is increased, corruption reduced and revenue channeled into the right priorities, Nigeria’s economy would be out current crisis in six months..

Read Full Story