Recession: Investors are afraid of Buhari, withholding their money – Ben Bruce

Senator representing Bayelsa Central Senatorial District, Ben Murray Bruce (PDP) on Tuesday came hard on President Muhammadu Buhari’s approach to governance in the face of economic recession, describing it as frightening even to domestic investors.


In his contribution on the floor while suggesting possible ways out of Nigeria’s economic quagmire, Bruce said Buhari’s style of governance with regards to fighting corruption was not in agreement with the 21st, as people are now being chased around by anti-graft agencies.

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Explaining the hypothesis of how things got awry economically, Bruce said elites who should invest in an economy as domestic investors were less than 1% controlling the larger population of 99%, but were afraid to put their money into the economy in terms of investment.

“Distinguished Colleagues, if am not mistaken, there is hardly any of us here that has not been docked for one thing or the other, and you would agree with me that you will be scared of investing in this administration,”he maintained.

While decrying the astronomical increase of essential commodities at the rate of 150%, he said, workers were at the receiving end since there was no increase in wages, a situation he posited has resulted to hardship.

Explaining further, Bruce suggested that government must force down the prices of foodstuff through policies, particularly through the transportation sector.

He urged the Federal Ministry of Transportation to engage transporters in order to reduce the cost of moving goods from one place to the other, while government at the same time should invest in urban and interstate transportation system.



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