Buhari must constitute his economic team urgently – Murray-Bruce

The lawmaker representing Bayelsa East Senatorial district in the National Assembly, Senator Ben Murray-Bruce, has called on the President, Muhammadu Buhari-led administration to immediately constitute its economic team, in view of the state of Nigeria’s economy.

In the latest of his usual series of tweets on governance, the media enterpreneur insisted that Nigeria must find creative ways to drastically reduce recurrent expenditure if the country must grow.

Stressing that no country does well by spending too much on recurrent expenditure, he tweeted: “One thing
the 20 largest economies of the world have in common is that they spend at least 50% on capital expenditure & little on recurrent.

“One thing the least growing economies of the world have in common is that they spend more on recurrent expenditure and less on capital.”

Bruce lamented the state of the. country’s economy which made JPMorgan drop Nigeria from its ratings last
month.