The Nigerian Minister of Information and Culture, Alhaji Lai Mohammed has lamented that the oil economic situation in the country has gone completely out of the control of government as the global economic meltdown is having a negative spiral effect on it.
According to him, Nigeria cannot determine the price of crude oil or gas. He took a swipe at critics of Buhuri’s administration and said the President’s frequent trips abroad, especially to the oil-producing nations, became imperative because of the urgent need to rally support for the stability of the global oil prices and also to attract Foreign Direct Investment FDI into the country.
While noting that stabilizing the prices of crude oil will help prop up the country’s currency, he stated that the president has been spending countless times outside the country to find solution to the crash in oil prices. This is why the president cannot stay here, he said, adding that, “staying here in Nigeria is like an army general who in the face of war remains in the trench.
Mohammed, who made these statements while answering questions a local radio station in Abuja, said, the fact that the present administration led by Buhari is still managing to drive the economy is a credit on its side.
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