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How neglect, resource mismanagement led to poverty, insecurity – Buhari


Buhari received EcoBank Chairman today, at the State House, Abuja. Photo/Twitter/AsoRock

President Muhammadu Buhari has attributed the current poverty and insecurity being experienced across the country to decades of neglect and resource mismanagement by past administrations.

The president stated this when he received the board of Ecobank Transnational Incorporated, led by the Group Chairman, Mr Emmanuel Ikazoboh at the Presidential Villa, Abuja, on Tuesday.

He further maintained that if assets and resources available to Nigeria were properly managed, the country would be prosperous and peaceful.


“But the poverty and insecurity we are experiencing today are results of decades of neglect and resource mismanagement,’’ he said.

According to him, the federal government remains committed to the goals of securing the country, inclusive economic growth, and fighting corruption.

Buhari said Nigeria was in a unique position as the most populous and resource-rich nation on the African continent, adding that the resources would be harnessed and properly managed, to engender a prosperous and peaceful country.

He said his government was not only determined to reverse the trend of squander-mania and mismanagement, “we have made progress in some areas such as agriculture.”

He, therefore, appealed to Ecobank to “institute a special fund to develop agriculture, which will cement your legacy as a bank that helped to transform this region’s economic fortunes.’’

The President commended Ecobank for being active in promoting financial inclusion, noting that “it is key to the government’s diversification agenda’’.

On requests by the bank for decongestion of Apapa ports, and rebuilding of the transnational Lagos-Badagry-Seme road, the president said: “We are aware and are working in all those areas, and by the grace of God, you will start seeing results during my second term in office.”

Ikazoboh disclosed that the Ecobank Group was in 36 countries in Africa and 40 globally.

“The bank, founded 30 years ago by private sector entrepreneurs, has over 20 million customers, with over eight million of them in Nigeria,’’ he disclosed.

Ikazoboh said the President’s recent re-election was a testimony of the hard work done, adding that reforms embarked on by the administration, across sectors, “will have deep, long term impact on Nigeria, West Africa, and Africa.’’

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