President Muhammadu Buhari on Saturday expressed satisfaction in the progress his administration has recorded in matters of economy in the country over the past 7 years in office.
Speaking on a live broadcast on the occasion of Nigeria’s 62nd Independence Day, he stated that his regime has revamped the economy by providing tactical interventions at both Federal and Sub-National levels, which led the country out of two economic recessions.
“Mindful of the task before us, we took some time in settling down and we re-positioned the Economy by providing strategic interventions in core areas at both the Federal and Sub-National levels.”
“Our efforts in re-setting the economy manifested in Nigeria exiting two economic recessions by the very practical and realistic monetary and fiscal measures to ensure effective public financial management. In addition, the effective implementation of the Treasury Single Account and cutting down on the cost of governance also facilitated early exits from recessions.”
The president in his speech, noted that railway infrastructure has been worked upon and improved to further boost economic activities in the country. He affirmed that there is hardly any ward that hasn’t benefitted from the National Social Investment Programme.
He said the scheme is yielding good returns as it has reduced poverty and generated employment and more jobs for Nigerians.
“To further open up our communities to economic activities, we have continued to boost our railway infrastructure with the completion of a good number of critical railways and at the same time rehabilitating as well as upgrading obsolete equipment.”
“I am pleased to inform my fellow citizens that besides our emphasis on infrastructural development with its attendant opportunities for job creation, employment generation and subsequent poverty reduction, our focused intervention directly to Nigerians through the National Social Investment Programme is also yielding benefits.”
“There is hardly any ward, village or local government in Nigeria today that has not benefited from one of the following: N-Power, trader-moni, market moni, subsidized loans, business grants or Conditional Cash Transfers.”