Ex-Kaduna State Governor, Nasir El-Rufai Lauds Obasanjo’s Second Term As Nigeria’s Economic Golden Era

Ex-Kaduna State Governor, Nasir El-Rufai Lauds Obasanjo’s Second Term As Nigeria’s Economic Golden Era....KINDLY READ THE FULL STORY HERE▶

Written By Oshiobugie Omo-Ikirodah

Nasir el-Rufai, the former governor of Kaduna state, has lauded the second term of ex-President Olusegun Obasanjo as the pinnacle of Nigeria’s economic progress. He made these remarks on Friday at the “Africa In the World” conference held in Stellenbosch, South Africa. CONTINUE READING

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El-Rufai emphasized that from 2003 to 2007, under Obasanjo’s leadership, Nigeria witnessed its most significant period of economic growth, job creation, and a decline in inflation rates. He credited this success to the integrated planning approach adopted during that era, combined with favorable oil prices.

He further extolled the financial strategies of the Obasanjo administration, particularly the establishment of the Excess Crude Account (ECA). This fiscal measure ensured that any surplus from oil, beyond a specific benchmark price, was saved, enabling Nigeria to eradicate its foreign debt. CONTINUE READING

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El-Rufai asserted that by 2007, Nigeria’s fiscal stability was so robust that when the global financial crisis emerged in 2008, Nigeria remained largely insulated. He noted, “Nigeria did not feel anything” during this crisis, attributing this resilience to the nation’s substantial savings and reserves. The country could effectively navigate the economic downturn without internal issues, setting it apart from many other nations grappling with the crisis.

Source: Bushradiogist