President Muhammadu Buhari has regretted that Nigeria has very little to show for the huge resources it made from oil in the past 16 years.
He said despite the fact that oil sold above $100 per barrel for the greater part of the last 16 years, leaders of the country refused to put proper plan in place for the rainy day.
Mr President said: â€œWe showed a lot of indiscipline in managing our economy, and that is why we are where we are today. But this time round, weâ€™ll do our best.â€
According to a statement by his Special Adviser on Media and Publicity, Femi Adesina, the President spoke while receiving the Nigerian-born President of the International Civil Aviation Organisation, Dr. Bernard O. Aliyu, at the Presidential Villa, Abuja.
Buhari said while enduring infrastructure was built with the little resources available in the First Republic, a lot of money was made in the last 16 years with little to show for the money.
The PDP has been in charge of the Federal Government in the last 16 years, until 2015 when Buhari of the APC ousted the former President Goodluck Jonathan of the them ruling party â€“ PDP.
Buhari added that, â€œIn the First Republic, more enduring infrastructure was built with meagre resources. But in the past 16 years, we made a lot of money without planning for the rainy day.â€
He said, â€œNigeria needs to work on her potentials, so that we donâ€™t remain permanently at the level of potentials.Â If Ethiopia is sustained largely by her airline industry, we have greater potentials here. But we must move out, engage with the rest of the world, as we need to re-establish the integrity of this country. We need to rebuild this country again.â€