Obasanjo backs proposed sale of NNPC
Nigeria’s former president, Olusegun Obasanjo has supported the proposed sale of the Nigerian National Petroleum Corporation.
He also advised the Federal Government to spend less, earn more and borrow money to sustain the economy.
He made this known during the 2016 National Council on Finance and Economic Development (NACOFED), held in Abeokuta, Ogun State.
It was a gathering of economic and financial experts across the country and the agenda was to discuss economic development in the country by identifying major challenges and proffering solutions.
In her opening remarks, Finance Minister, Kemi Adeosun urged Nigerians to persevere and have faith in the government, noting that the country will bounce back.
Speaking on the state of the economy, Obasanjo said the situation was not unexpected, due to the way the last administration mismanaged national resources.
He confirmed that one of the major problems confronting the country is spending more than it earns and gave suggestions to the finance Minister.
The theme for the 2016 NACOFED is enhancing revenue generation and obtaining best value for money .