Prudent spending is the only way to cushion the effects of the current economic recession in Nigeria, Mr Nwoha Amaechi, former Speaker, Imo House of Assembly, has said.
Amaechi made the statement on Saturday in Abuja in an interview with the News Agency of Nigeria (NAN) while reacting to the current economic reality in the country.
He said that the economic situation required review of expenses on the part of the government and the citizens.
“We must learn to shun wasteful spending, unnecessary flamboyance and other ways of extravagance.
“This is not the best time for bloated contracts, jumbo salaries and allowances for government officials; we must sacrifice for tomorrow,’’ he said.
The former speaker, who described the recession as “a most trying time in the history of Nigeria,’’ expressed optimism that it would soon be over.
He said that there was need for collective efforts of all stakeholders in proffering solutions to the recession.
According to him, the solution cannot be left to the government alone, but every person who loves the country.
Amaechi, who condemned the wasteful attitude of some Nigerians, said that change of value system was imperative.
“Some persons still throw expensive parties in the name of celebration, such parties ought to be reduced now.’’
The former speaker declared that wasteful spending was not only a road to poverty, but a means of squandering the nation’s resources.
He stressed the need for Nigerians to change their attitude to ensure a secured future.
Amaechi, who expressed confidence in the economic policies of President Muhammadu Buhari, said that the support of Nigerians for the president was non negotiable. (NAN)