Source: THIS DAY LIVE
Adebiyi Adedapo in Abuja
The Federal Government on Sunday blamed the poor state of the country's
economy, especially the depreciation in the naira exchange rate, on
what it described as incomprehensible mismanagement of the economy under
the immediate past administration of the People’s Democratic Party (
PDP).
Minister of Information and Culture, Alhaji Lai Mohammed, said in a
statement that the mindless looting of the national treasury under the
immediate past administration, was responsible for the increasing
weakness of the naira against the United States dollar.
Muhammed apparently responded to a statement credited to the Deputy
Senate President, Ike Ekwerenmadu, which suggested that businesses may
collapse in the next six months because the Buhari Administration has
mismanaged the economy.
The minister said it was the clearest indication yet that the PDP and
its leaders were still in denial about the massive body blows they
inflicted on the Nigerian economy.
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