Amaechi: There was recession under Jonathan but it was covered up
Rotimi Amaechi, minister of transportation, has alleged that Nigeria went into recession under former President Goodluck Jonathan but that the government only covered it up by saying it was cash-strapped.
The minister, who spoke on The Osasu Show, said Okonjo-Iweala begged him to stop saying Nigeria was broke at the time.
Amaechi, who was then the chairman of Nigerian Governors Forum (NGF), said the economy went into a recession due to excessive borrowing.
When asked about the recession of the Nigerian economy, Amaechi said: “People just pick up words without knowing what words mean. Even under Goodluck we went into recession”.
“I am one of those who participated in the budget. We looked at what happened in the past and we discovered that actually if recession means three times (three quarters of negative economic growth), we have done more than the three times before we came in,” he said.
“The difference is that while our government is transparent and open, we are able to admit that, federal government was saying even to me as chairman of governor’s forum, ‘Amaechi, don’t say that again’.
“If you remember as Governor, I said we’re broke. The minister for finance came to my office in Abuja here and pleaded with me that I shouldn’t say it again.
“That if I said it, it would affect Nigeria in terms of investment that investors will run away. That I shouldn’t say we are broke. I should say we are cashed strapped. That was what Ngozi Okonjo Iweala told me.”
“So I knew as chairman of Governor’s forum, that we had gone into recession under Goodluck. I knew as chairman of governor’s forum. And when I open my mouth to say it, that we are broke, she spoke to me not to say it.”
AMAECHI: WE GENERATED 7,000 MEGAWATTS BEFORE AVENGERS STARTED BOMBING
When asked about the promises of the President Muhammadu Buhari-led administration on power, Amaechi said the ministry of power already pushed generation to 7,000 megawatts.
“Don’t forget that until these so-called Avengers began to bomb, we had got to 7,000 megawatts, and what he promised was ten at the end of the first term,” he said.
“By the time the avengers, or whatever they call them started bombing, the minister of power, had driven the thing to 7,000 megawatts. Unfortunately, they began to hit the gas facilities, so what would you do?”
In the full interview, which would be aired on AIT by Friday morning (9am), Amaechi said the Abuja-Kaduna rail line will create 779 jobs for Nigerians.
Your comment..Is good to know,we never knew that the economy was already in recession under Jonathan’s government,why the coverup? No wonder Ngozi okonji iweala then was having a running battle with Amaechi then the chairman of Nigeria governors forum He was in the position to know about the state of economy, I sincerely think he is saying the truth, leave politics out, there was conspiracy then to make us gullible citizens to believe all is well with our economy then, with fictitious figures released by the ministry of finance!!
You are the gullible one. A man opens his mouth without facts and figures and you believe him. Our real recession started in Q1 2016 and when Q2 and Q3 figures come in, you’ll see more of the same. Do you or Amaechi even know what a recession is? Can you do a google search before you come and ignorantly support a baseless lie by an also ignorant fellow? I am tired of you people. What do you mean by covering up a recession? Yemi Kale and his team do a good job to show us what we all already know and rather than get down to work, Amaechi and his ilk come out with old wives’ fables. In this article, Amaechi gave no evidence of a prior recession or that he knows what a recession means. We have work to do, these shenanigans are not helpful.
Thank you Red Eagle. People just type on their keypad without first giving thought to what they want to type.
I read another reaction as follows: “This is the Minister with the second highest Capital allocation in Nigeria.
He does not understand what a recession means…So how can he understand how to get out of it?….does he understand his Ministry is key to exiting the recession?
Nigerians want PROGRESS… that is the new slogan .
those that want to look back..cannot build forward….”
Thank for pointing this out to this unschooled. While they should be busy encouraging spending and investment in production. They spent the first two quota of this administration telling the whole world, that Nigeria is broke. They better fix their mess or we would have no other option but to start asking for an impeachment.
As long as this country and this government exist Amechi is the must corrupt, he still in Buari’s govt bcos the govt herself is a corrupt entity.
Amechi can sell his mother just to promote a lie. Madam Ngozi Okonjo-Iweala carried the citizens along as far as Nigeria’s economic situation was concerned. She gave the warning signs and she also revealed the several achievements recorded in the past administration . While she was giving her warnings she made it clear to Nigerians. Amechi where did this lie come from?
Amaechi’s article is borne out of selfish interests and ulterior motives. Whatever his intentions are, this is bad PR!
I hope no gullible person believes him?
“Basket Mouth don open mouth again o” God bless Fela. An economic illiterate does not know that when the chairman of the Governors’ Forum says his country that is not in recession is broke, he is sending negative signals and demarketing the country.
So if the finance minister begs him to close his leaking trap, he thinks he is being asked to keep a deep secret. Very funny.
You cannot hide a recession. It announces itself in the pockets of citizens and is emblazoned on the foreheads of citizens as hardship. Amaechi should forget this his transparency propaganda.
Red Eagle. You can choose to believe whatever you like. Proof or no proof, I can vividly remember when Okonjo-Iweala told Nigerians to prepare for hard times. what does that tell you. The truth is that you can’t put all the blame on this govt. or any other. We are all guilty because we choose our leaders based on ethnicity and religion instead of voting for good governance. As long as we keep doing it as always we can never get it right.
@bluetooth, read Bade Olosunde comment I quote “So if the finance minister begs him to close his leaking trap, he thinks he is being asked to keep a deep secret. Very funny.
You cannot hide a recession. It announces itself in the pockets of citizens and is emblazoned on the foreheads of citizens as hardship. Amaechi should forget this his transparency propaganda”
america gov, cant say america is broke even if they are 2ruly broke, why? cos they cant give bad signal to the world about themselve. look at apc they are very confuse cos no qualify hands in their gov.
Why are we all complaining? We voted for the change so we all have to face it and stop regretting our options for chasing out the people with genuine love for the country and it’s citizens. God bless Nigeria
Please be advised to raise your sleeves and get to work, I mean, everyone in Government.Do not take the followership in Nigeria for granted.When Obama got to the saddle he met US economy in a quasi recession, no much qualms were made.He put together a formidable economic team in place, the result today is glaring, the effect is felt not only in US but also globally.
You should also cover this recession with blanket, we don’t want to see or feel it
Amechi has un hatred for the previous government, hence, don’t expect him to soft-pedal in his propaganda agenda.
Ameachi’statement is a thoughtless political statement that is full and large on falsehold and short on truth