The President of Nigeria, Muhammad Buhari has disclosed that major solution to the current economic challenges the country is facing is for the citizens to embrace farming by investing more in agriculture and encouraging access to more arable lands.
Buhari stated this in an interview conducted by Seun Okinbaloye and Maupe Ogun-Yusuf of Channels Television where the president disputed some of the economic indicators reeled out by the presenters showing how the Nigerian economy has deteriorated since he came to office in 2015.
Between fourth quarter of 2020 and first quarter of 2021, the Nigerian unemployment rate hit an all-time high of about 33.3% from the previous record of 27.1% in the second quarter of 2020, the highest in at least 13 years.
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According to the statistic, it can be estimated that the number of unemployed Nigerians is currently standing at 23,187,389.Also, labour force report published by the NBS in March 2021 narrated that a combination of both the unemployment and the underemployment rates for the reference period amount to 56.1%.
During the interview, Mr Okinbaloye narrated how figures of some of the key economic indicators between 2015 and 2021 kept Nigerians worried about the poor state of the economy but Buhari dismissed his administration’s woeful economic performance.
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“When you took over in 2015, our debt stock at the time was about 12 trillion, now it’s about 32 trillion, inflation rate was about 9%, it’s now sitting at about 15%; unemployment rate was about 9.2%, it’s now at about 32.2%; exchange (rate) was about N197 to a dollar, now it’s way over 400 naira to a dollar” Okinbaloye said.
Buhari responded that: “Well, I am not sure how correct your calculations are,but all I know is that we have to allow people have access to the farm, we just have to go back to the land. If we invest more in agriculture, people won’t be shouting of unemployment”
