Former President Olusegun Obasanjo has asked Nigerians to make adjustments in their lifestyle this year, warning that the global economic recession will take its toll on the country and affect the inflow of foreign investments.
In Abuja, Vice-President Goodluck Jonathan joined other Christians to pray for an economically stable Nigeria in the years ahead.
Obasanjo spoke yesterday while playing host to Ogun State Governor Otunba Gbenga Daniel at his hilltop residence in Abeokuta, Ogun State.
He called on Nigerians to prepare for "major adjustments" in every facet of life in the new year, pointing out that the world was going through economic recession that is unprecedented since the end of the Second World War.
According to the former President, "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 maintained that the economic crisis would discourage foreign direct investment in Nigeria and utilisation of local resources, said: "If we base the budget on $45 per barrel in the year 2009and the prices of crude oil fall below $40, we don't need an oracle to tell us that we need to tighten our belts. 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" - probably a reference to the projected GDP growth rates that is expected to make Nigeria's economy among the top 20 in the world by the year 2020.
He lamented dwindling investment in agriculture, and warned that another food crisis was in the horizon if there was no change globally.
According to him, "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 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 added.
Obasanjo preached a similar "belt-tightening" message following the drop in oil prices while he was military head of state in the 1970s, asking Nigerians to go back to agriculture.
In Abuja, Jonathan prayed for abundant peace and economic stability in Nigeria in the year 2009.
The Vice-President, who spoke shortly after attending a New Year Day Thanksgiving Service at the Cathedral Church of the Advent in Life Camp, Gwarinpa, also said the recent crisis in Jos, Plateau State, was detrimental to the entire citizenry, but prayed that such crisis would be the last to be witnessed in the country.
He expressed hope that Nigeria will remain focused economically despite declining trends at the global level, and wished all Nigerians happiness in the New Year.
"We believe that as a nation, we would be more focused this year irrespective of the global economic recession. We are also hopeful that with the peace we have achieved across the country, government will be more focused to ensure that things are done the right way. We wish all Nigerians a happy New Year and assure them that we will maintain the steam in a manner that will bring happiness to all," he said.
Jonathan, who was at the service with his wife, Dame Patience Jonathan, his mother, Mrs. Ayi Jonathan, and his children, led other worshippers in intercessory prayers asking abundant blessings from God for the nation in 2009.
He prayed for God's wisdom and guidance upon the country's leaders at all levels of governance.
The Vice-President had also joined other Nigerians in New Year Eve worship and thanksgiving to God "for seeing the nation through 2008" and to usher in the year 2009 at the St. Matthew's Church in Maitama, Abuja.
Jonathan, in celebration mood shortly after the New Year dawned, thanked Nigerians for their persistent prayers for the present administration and the country, noting that though 2008 was eventful, "God Almighty deserves our thanksgiving as a nation for ushering us into the New Year in health and peace".

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