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"Our government of yesterday expressed its preference for providing ‘infrastructure of the stomach’, giving handouts instead of real infrastructure'': Fashola

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FASHOLA SPEAKS !!!

"Our government of yesterday expressed its preference for providing 'infrastructure of the stomach', giving handouts instead of real infrastructure.

"This is how the seeds of today's recession were sown. For those who say that today's government should stop talking about yesterday, with due respect, I disagree.

"Yesterday will remain relevant in understanding today in order to make choices that make tomorrow different and better.

"I once used the allegory of the patient, and I think it deserves repetition. If a patient complains about stomach pain, the first question that the physician is likely to ask is: 'What did you eat yesterday?'

"The answer helps the physician make a diagnosis and choose a prescription first to solve the problem, and to recommend further dietary habits about what to eat and what not to eat. This is what the current leadership is addressing.

"That we wasted our money, we did not invest in roads, highways, bridges, schools and hospitals. Money was taken out of the larger society and invested in private accounts. The economy began to shrink, construction companies laid off workers, who in turn lost income, which resulted in shrinking demand for goods and services, and in turn led to national under-productivity.

"That was what we ate yesterday. The stomach pain is comparable to symptoms of bad dietary choices that manifest in the recession we now deal with.

"The solution is to spend on infrastructure, which has started. The recovery time is a function of what we can spend and how quickly it will go round… If an arid area of land has not witnessed rainfall in two to three years, you know what happens when the first rain falls. It literally disappears into the ground.

"In order to reach a point where any moisture is visible in the soil that may support the germination of a seed to be planted, more rain water needs to be injected. This is the best analogy I can offer for where our national economy is......."

BABATUNDE FASHOLA.

24th September 2016

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