Bankole added that it would take at least seven years before an economic reform or policy could yield the expected returns, and submitted that President Muhammadu Buhari still needs more time to fix the nation’s ailing economy.
Four years not enough for Buhari to heal ailing economy, says Ex – Speaker Bankole
By Maxwell Adeyemi Adeleye
Former Speaker Dimeji Bankole, yesterday, declared that any economic reform that would transform a nation positively can’t be designed and executed by a government within four years time frame.
The ex – Speaker who made this known on Sunday evening in Ijebu – Ode, Ogun State, while delivering the fifth aniversary lecture of the Ijebu News Xtra magazine, likened Buhari to the Nigerian teachers, saying the President is “doing a thankless job” to fix Nigeria.
The magazine which is published by a celebrity reporter, Mr Dayo Rufai, had as its anniversary lecture, titled; “Ogun State: Stimulating Youths Entrepreneurship Potentials in Recessive Economy,” at an occasion chaired by a major player in the Oil and Gas servicing subsector, Engr. Femi Omotayo.
Bankole who spoke more on ex tempore, noted that the answer to the current recession is not in any economics text book but in the willingness of Nigerians to make the right “sacrifices today for a better tomorrow.”
“I feel sorry for President Buhari, he can’t solve the problem in four years. He needs a second term. No economic reform or policy can be formulated and implemented to produce the expected results within four years, It will take at least seven years.
“He is doing a thankless job now like the teachers. No magic or miracle about this, we have to do the work and the government needs support. It is a long distance race.
“The question is; what are you prepared to sacrifice? What risk are going to take to make Nigeria better? We must make sacrifices to make the country work,” Bankole said.
He argued that apart from the fact that the problem of the Nigerian economy has not been correctly diagnosed to warrant correct prescriptions for its cure, the handlers for decades have, he said, remained persons brought from a stable World Bank.
According to him, technocrats sourced from relatively stable World Bank can’t fit adequately or effectively as handlers or managers of Nigeria economy that is volatile and always in one crisis after another.
Bankole also revealed that though he had not given up his ambition to seek an elective office in Nigeria, but said it would not take much away from him should he decides not to give expression to the ambition tomorrow.
He explained that God has been quite kind and merciful to him, saying he would remain eternally grateful to him, the good people of Ogun State and Nigerians for giving him the rare opportunity to serve the nation as Speaker of the House of Representatives.
He urged the nation’s youth to make the right sacrifice, learn trade and also leave a legacy people would be proud about.