Omoyele Sowore, the presidential candidate of the African Action Congress, AAC, on Tuesday, revealed that the past and present leaders of the country have performed woefully in the economic sector.
He disclosed that the leaders of the country have been ignorant about basic economics.
He said the country people have not learnt to elect competent leaders.
He made this revelation during a seminar with the theme: “AEMAinspire University Tour Seminar”, organised by the African Economic Merit Awards, AEMA, in Abuja.
He said, “I will be exaggerating if I say that Nigeria has an economy right now. We don’t have an economy, we just have a vulcanizer economy where people are just patching along.
“You know, the debt to GDP ratio is unbelievable. We are borrowing to pay salaries at this point. People can’t feed. There are no hospitals and the security situation is so bad. Even our oil that we so much talk about, we’re exporting more than half of what typically should go up because of the security.
“Most importantly, we don’t have a leader that understands how to turn things around and to turn them around, I have identified areas that must be immediately taken care of.
“One of them is that you cannot have an economic base without electricity. You don’t need to go to school to know that for you to kickstart your economy, you must have in place an energy production rate that will be able to power both big and small businesses.
“We also have to deal with security of course, and then cleaning up the system corruption is still a major problem, but I’m not going to tell you that even if we save all the money from the corrupt snakes, monkeys that are raiding our economy, that will have enough except we go into high level production mode.
The Convener, AEMA, McEva Temofe, while lamenting the state of the economy of the country, revealed that it is unfavourable for the youths.
He said: “We’re much into developmental programmes. We will be going to different universities to inspire younger ones to pursue more of their career in entrepreneurship bringing together people from the agro industry, the tech industry and other industries as well, to use the voice to inspire these people, and for them to be huge contributors in the Nigerian economy and Africa as a whole.”