Addressing journalists in Arochukwu, Abia State, Akpabio said the country’s current economic challenge was a global phenomenon orchestrated by the steady fall in oil prices.
Akpabio who advocated for diversification of the economy said the global economic meltdown is being felt more by Nigerians because the country runs a mono-economy built around oil.
He enjoined the Federal Government to pay attention to other sector of the economy like mining, agricultural and entrepreneurship ventures and as well as foreign direct investment to boost the country’s revenue base.
Akpabio said, “So, what has happened here is that with the massive failure, what we call oil glut in the market, the oil price has reduced below what we expected in the last 20 years. That automatically has affected our economy.
“It has nothing to do with which administration is in power. It has something to do with resources to be able to deliver the dividend of democracy.”
The former Governor while admitting the effect of the harsh economy on the citizenry sued for patience from Nigerians and solicited support for the present administration in the interest of the country.
“The country belongs to all of us and if the country collapses on our heads, it means that we bequeath nothing to our children,” he said.
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