CBN, Godwin Emefiele, recently revealed that the

 even at that, at $48 per barrel with as many as two million plus barrels of crude oil per day, President Buhari cannot ask usadream.xyz where the money is. Oil price fell as low as $9 in 1998 during the regime of Gen. Abdulsalami Abubakar.

I recollect Nigerian journalists once asking the late president of Tanzania, Julius Nyerere, visiting Abuja for the transition lecture in 1999, about his reaction to the then global falling oil prices. His reaction mixed with humour was that; May God giv newshut.org lowest price instead of agonising on how to import petroleum products which according to him Nigeria had in abundance.

The point cannot be overstated that Nigeria is still not short of actual oil money, if only we learn to leave within our means. President Buhari must think outside the box of oil money (whether stolen or declining due to falling price). The President must think of Baran’s Potential Economic Surplus being denied due to lack of clear cut economic agenda of growth and development. Buhari’s government must spell out how it wants to unleash the energy of Nigerians for development.

The people are more than ready for positive change. This government must stop agonising but must organise human and material resources for urgent production of the much needed goods newspapersmagazine.com and services. According to the Central Bank of Nigeria, the country spent a total of N1.18tn (about $7.4bn) on the importation of toothpicks, fish, milk, textiles, rice and furniture between 2014 and May 2015. That is almost the amount Indian Prime Minister, Prime Minister Narendra Modi, unacceptably threw at 52 African heads of states including Nigeria last week as a so-called grant. The Governor of the CBN, Godwin Emefiele, recently revealed that the Federal Government spent $2.41bn 

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