The Federal Government has said the
administration is winning the battle to revive
the Nigerian economy.
Minister of Information and Culture, Alhaji Lai
Mohammed, said this in Lagos during a press
conference titled, ‘The Muhammadu Buhari
administration is putting the economy on a winning
According to the minister, Nigerians will soon have a
new lease of life, where businesses will thrive and more
jobs will be created.
He said, “We are winning the battle to revive the
economy. We are fighting corruption like never before.
We are tackling insecurity with renewed vigour. The
bottom line is that as things continue to improve,
Nigerians will begin to feel the impact in their daily
lives. With the ongoing massive infrastructural
development, especially in roads, railways and power,
Nigerians will begin to get a new lease of life; food
prices will tumble, businesses will thrive and more jobs
will be created.
“While the naysayers, who are obviously in the
minority, persist in their pastime of acting as
distraction, discerning and well-meaning Nigerians will
continue to appreciate and encourage the good work of
our administration.”
He added that the administration had improved the
country’s tax to Gross Domestic Product ratio through
the Nigerian Voluntary Asset and Income Declaration
“In exchange for fully and honestly declaring previously
undisclosed assets and income, taxpayers will benefit
from forgiveness of overdue interest and penalties, and
the assurance of not facing criminal prosecution for tax
offences or tax investigations. As of October 31, 2017,
VAIDS has raked in over N200m and $55m.
“Then, of course, there are the usual indices: for eight
consecutive months, headline inflation has been falling,
the foreign exchange reserves are up to $34bn, from
$24bn a year ago; oil production is at nearly two million
barrels per day, a significant improvement from 2016
when it was mostly below a million; the value of the
naira in the parallel market has appreciated
significantly in recent times against the US dollar, and
at about $1.8bn, the capital inflows in the second
quarter of 2017 were almost double the $908m in the
first quarter,” he said.

Post a Comment