I warned Jonathan about recession "reckless spending" says obasanjo

Former President Olusegun Obasanjo yesterday accused the immediate past president, Dr. Goodluck Jonathan of ignoring warnings about a looming recession and the consequences of the 'reckless' spending of his government.

He said in Abeokuta that two years ago when he saw signs that Nigeria was walking down the path of recession and the way the powers that be were expending the nation's resources, he drew Jonathan's attention to the danger ahead, but was ignored.

The former president spoke yesterday during a lecture organised by the Youth Fellowship of Owu Baptist Church, Abeokuta to mark Nigeria's Independence Day anniversary.

He said the economic situation in the country has turned development upside down as "things are not what they should be."

He cited the high level of unemployment which he described as a time bomb.

"Unemployment is a major problem in the country today and if we don't take care, it will consume all of us. In fact, the rising unemployment is a time bomb," he said pointing out that the high rate of unemployment was responsible for youth restiveness in the country.

He asked that the situation be tackled with all the seriousness it deserves before it gets out of hand.

He added: "Whoever that has lived to witness the celebration of today should thank God. Things are not what they should be, but we should pray that next year will be better than this year."

"We thank God for those who are alive, we prayed for the souls of those who have laboured for this country and who have passed on to rest in perfect peace."

The former president recalled how he got five job offers immediately he completed his secondary school education at Baptist Boys High School, Abeokuta.