Former Governor of Central Bank of Nigeria (CBN), Alhaji Sanusi Lamido, has reportedly said that Nigeria has made no to zero progress since 1981. ayokinews.com reports
Sanusi made this known during his 60th birthday celebration, held in Kaduna, where he stated that the Nigerian government needs to improve the economic situation for the betterment of the common man.
Speaking further, he made it known that since 1981 (40 years ago), Nigeria had not made any meaningful progress.
He noted that Nigeria’s GDP per capita on purchasing power parity had plummeted to almost where it was 40 years ago while clearly highlighting the failed economic policies over the years.
According to the former CBN banker, “In 1980, Nigeria’s GDP per capita on purchasing power parity basis was $2,180. In 2014, it appreciated by 50 per cent to $3,099. According to the World Bank, where were we in 2019? $2,229. At this rate in the next two years in terms of purchasing power parity, the average income of a Nigerian would have gone back to what it was in 1980 under Shehu Shagari. That means, in 40 years, no progress, we made zero progress. 40 years wasted.
“Between 2014 and 2029, on the basis of this index of the purchasing power of the average income of an average Nigerian, we have wiped out all the progress made in 35 years. We have a responsibility as a people to rise and improve the lives of the people of this country.”
Speaking on the bad economic situation which he deemed to be terrible, Sanusi added, “when you are in a society that is so abnormal, you cannot afford to be a conformist because you all conform, things will not change.”