Pastor Tunde Bakare of the Latter Rain Assembly has called President Muhammadu Buhari out over his ineffective economic policies.
The Senior Pastor of the Latter Rain Assembly further challenged Buhari to revisit and amend his economic policies which has so far failed to yield any positive results.
Pastor Tunde Bakare however acknowledged that the Buhari-led administration inherited an economy which was already in shambles due to the massive corruption which was witnessed in the last administration, especially during the oil boom.
Bakare, while speaking on Saturday at the 14th year anniversary of the Foursquare Gospel Church, Asokoro, Abuja as a guest lecturer said: “In the past 18 months, attempts at salvaging the economy have not yielded lasting results. While the Gross Domestic Product (GDP) shrunk by 0.36 percent as at the first quarter of 2016, production dipped by 2.06 percent as at the second quarter. Evidently, Nigeria’s recession is largely self-inflicted and could have been avoided.”
He further noted that the present state of the nation’s economy “is an opportunity for the church to take responsibility for the destiny of Nigeria.”
Further attributing the current economic mess to the past administration, Tunde Bakare noted that the nation experienced its peak oil boom in 2008 when oil prices rose to $145 per barrel.
Bakare added that although oil prices crashed later, it rose to $100 until December 2014 but the sad part was that the proceeds from the oil boom was mismanaged.
He added, “Hence, with our revenue unaccounted for in the preceding boom era, and with reported massive looting through oil subsidies and diverted defence budgets, the present government inherited a Nigerian economy in dire straits.”