| FORMER President Olusegun Obasanjo, yesterday, told Nigerians to brace up for major adjustments in their life styles in the New Year, saying the world economic recession was such that it would affect every facet of life. Speaking while receiving Governor Olugbenga Daniel of Ogun State and members of his cabinet at his Abeokuta home, Obasanjo said Nigerians must be prepared for the recession which he said would touch everybody. The former President also predicted a food crisis in the country in the next five years and asked Nigerians to gird their loins. His words: “It does not matter which part of the world we are, it does not matter what we produce or the level of our development, this recession will touch everyone of us.” Obasanjo who received the governor who was on a New Year visit in company of his son, Major Adeboye Obasanjo, and Dr. Doyin Okupe maintained that the economic crisis would hinder foreign direct investment and utilisation of local resources. He said: “If we budget $49 per barrel in the year 2009 and the world prices on crude oil is now below $40 per barrel, we don’t need an oracle to tell us that we need to tighten our belt. That is the outlook for the world economically and it is not too bright because whatever affects the rest of the world will affect Africa and Nigeria ” He said Nigerians must be proactive and innovative to enhance revenue from other sources, saying the gloomy global outlook “may not allow us to grow as we have grown in the past.” The former President who also lamented the dwindling investment in agriculture said food crisis was in the horizon if there was no change globally. “Five years away from now, unless something is done drastically, there will be food crisis that is monumental, it is preventable and there is no reason why we should make it to happen. “The time has come to tell our people to adjust .The advice of cutting your clothes according to your size will not be applicable as we need to now cut our clothes according to the size of our clothes,” he said. |
Jan22009