Our economic policies already making desired impact – Buhari
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Nigeria's President, Muhammadu Buhari on Saturday said the economic policies of his administration were already making the desired impact as evidenced by steady growth in the economy in the last three years.
By Kazeem Ugbodaga
Nigeria’s President, Muhammadu Buhari on Saturday said the economic policies of his administration were already making the desired impact as evidenced by steady growth in the economy in the last three years.
Speaking at the Organised Private Sector meeting held at the Lagos House, Marina, Buhari said the APC government had kept the promise to boost the economy through blocking leakages in government finances, increasing capital expenditure and inflows, and implementing the Economic Recovery and Growth Plan (ERGP), among others.
“I firmly believe that our economic policies are beginning to make the desired impact. Economic growth has resumed and is continuing to improve. Growth was higher in 2017 than in 2016, data even from external sources shows that it was also higher in 2018 than in 2017. I am confident that as we stay the course, it will be better still at the end of 2019.
“Inflation is coming down steadily, there is stability in the exchange rate and foreign exchange is readily available for genuine business. Foreign reserves are adequate and growing; capital inflows have increased and the trade balance is positive.
“We are paying off debts that were not even publicly acknowledged before now, including those owed to States, the electricity sector, oil marketers, exporters, backlog of salaries of workers and pensioners, amongst others,’’ he said.
Among the organizations which made presentations to the President at the session were Manufacturers Association of Nigeria (MAN), Lagos Chamber of Commerce and Industry (LCCI), and Nigerian Association of Small and Medium Enterprises (NASME).
Aside Vice President, Professor Yemi Osinbajo, Governors of Oyo (Abiola Ajimobi), Kebbi (Atiku Bagudu), Kano (Abdullahi Ganduje), Osun (Gboyega Oyetola), Ekiti (Kayode Fayemi) and Ministers, the session was also attended by many captains of industry including Alhaji Aliko Dangote, Femi Otedola, Oba Otudeko, Jim Ovia, Bismarck Rewane, Chief (Mrs) Nike Akande, among others.
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