By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: No Easy Solution To Nigeria Problems – Buhari
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

No Easy Solution To Nigeria Problems – Buhari

Gbolahan Adeyemi
By Gbolahan Adeyemi
Published: October 2, 2016
Share
4 Min Read
SHARE

State Of The Nation

President Muhammadu Buhari, on Saturday, admitted that there was no easy solution to myriads of problems bedevilling Nigeria.

In a nationwide broadcast to commemorate the country’s 56th Independence Day anniversary, the President, however, assured Nigerians that his administration was pursuing the solutions available to it with a view to repositioning the country.

- Advertisement -

Buhari said it was normal for countries to face ups and downs, while attributing the economic recession in the country to a shortage of foreign exchange and violence by the Niger Delta militants.

According to him, the problems are temporary.

He said, “The recession has been brought about by a critical shortage of foreign exchange. Oil price dropped from an average of $100 per barrel over the last decade to an average of $40 per barrel this year and last.

“Worse still, the damage perpetrated by Niger Delta thugs on pipelines reduced Nigeria’s production to below one million barrels per day against the normal 2.2 million barrels per day. Consequently, the naira is at its weakest, but the situation will stabilise.

- Advertisement -

“But this is only temporary. Historically, about half of our dollar export earnings went to importation of petroleum products and food. Nothing was saved for a rainy day during the periods of prosperity. We are now reaping the whirlwinds of corruption, recklessness and impunity.

“There are no easy solutions, but there are solutions nonetheless. The government is pursuing them in earnest. We are to repair our four refineries so that Nigeria can produce most of our petrol requirements locally, pending the coming on stream of new refineries. That way, we will save $10bn yearly.”

On the economic crisis plaguing the county, Buhari said he was aware of the difficulties being faced by Nigerians.

He acknowledged that many families could not afford to pay their children’s school fees or buy foods at exorbitant prices, while many others are unemployed.

He reiterated the problems his administration wished to tackle: security, corruption and the economy, “especially unemployment and the alarming level of poverty.”

On security, the President insisted that his government had made progress by defeating Boko Haram last December.

According to him, the Federal Government, while confronting other security issues like herdsmen/farmers clashes, cattle rustling, and kidnappings, is determined to tackle and surmount the challenges.

Again, Buhari read the Riot Act to the militants in the Niger Delta, who had claimed responsibility for vandalising oil installations, describing them as “mindless groups (that want) to hold the country to ransom.”
He said his administration would no longer tolerate their excesses.

“It is known that the clean-up of the Ogoniland has started. Infrastructural projects financed by the Federal Government and post-amnesty programme financing will continue.

“We have however, continued to dialogue with all groups and leaders of thought in the region to bring lasting peace,” he said.

Buhari reiterated his position on corruption, saying it must be fought headlong.
He promised to adhere strictly to the rule of law while fighting the menace.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:buhariNigeria
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByGbolahan Adeyemi
Entertainment News writer
Follow:
Gbolahan Adeyemi is a writer for Okay Nigeria. A budding individual with the strive to share and inform the masses with contents relating to their beliefs, lifestyle and all about the entertainment.
Previous Article FG Committed to Rescue of Chibok Girls – Lai Mohammed
Next Article Veteran Nollywood Actor ‘Tunde Alabi’ Hospitalized, Leg to be Amputated (PHOTO)

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 5 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Anambra, Osun Polls: APC Faces Internal Strife as Soludo and Adeleke Engage President Tinubu Amid Election Tensions
Politics Top stories
Pastor Adeboye
Pastor Adeboye Shares Divine Directive: Leaving RCCG Could Lead to Tragic Loss
News
Anglican Bishop of Lafia Calls on President Tinubu to Address Root Causes of Nigeria’s Insecurity and Economic Woes
News
Egbe Bobakeye Okunrin Akile Ijebu Refutes False Claims About Queen Elizabeth II’s 1956 Visit
News
NRC Managing Director Warns Against Railway Vandalism: “We Don’t Have Scraps, We Have National Assets”
News
- Advertisement -
Ad imageAd image

You May Also Like

News

Tragic Head-On Collision in Jigawa Claims Nine Lives, Dozens Injured

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Sport

Victor Osimhen Returns to Nigeria as Al Hilal Transfer Hangs in Balance Ahead of FIFA Club World Cup

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?