Chief Olu Falae, Elder statesman and former Secretary to the Government of the Federation has come out to talk about the state of affairs under the current President Muhammadu Buhari’s administration , according to him “nothing good has happened under the current administration”.
He told press that the health of President Buhari had hampered him from discharging his duties as the number one citizen.
Chief Falae says , “Let’s see what happens in the next two years, but nothing has changed, it hasn’t been a good start.
“The budget was approved six months into the year. The president has been sick most of the time so there has been no focus no thrust; it’s not clear what they are trying to do apart from talking about anti-corruption and Boko Haram. From where I stay here in Ondo State I don’t see what they’re doing.”
Asked about his opinion on the way out of the troubles affecting the economy, he opined that, “The inflation is for the most part imported inflation. It is not arising because we have employed everybody and they earn so much money like we had in the time of Udoji when people get areas and were buying things.
“That’s not what we are having, that type of inflation is called demand pull inflation, where everybody has money and goes to market demanding for fewer goods, but that’s not what we are having. It is cost push because it is cost of producing things that’s high. Not the cost, but the foreign exchange cost.
“The price and cost of production has gone up because we have been importing things and the dollar has gone up , so we are importing that inflation.”