Minister of Transport, Chibuike Amaechi, at the Osasu Show on Tuesday 2nd August said:
“People just pick up words without knowing what they mean. Even under GEJ, we went into recession.
“I am one of those who participated in the budget. We looked at what happened in the past and we discovered that actually if recession means three times (three quarters of negative economic growth), we have done more than the three times before we came in.
“The difference is that while our government is transparent and open, we are able to admit that, the FG was saying even to me as chairman of governor’s forum, ‘Amaechi, don’t say that again’. If you remember as governor, I said we were broke. .
“The minister of finance came to my office in Abuja and pleaded with me that I shouldn’t say it again. That if I said it, it would affect Nigeria in terms of investment; that investors will run away. That I shouldn’t say we are broke. I should say we are cash-strapped.
“That was what Ngozi Okonjo-Iweala told me. So, I knew as chairman of Nigeria Governors’ forum, that we had gone into recession under GEJ. I knew as chairman of governor’s forum. And when I open my mouth to say it, that we are broke, she spoke to me not to say it.”