FG: Nigeria in time of monumental challenges, tough choices
President Muhammadu Buhari has said that the country is currently in a period of monumental challenges and tough choices.
President Buhari stated this in Abuja yesterday at the opening of the 21st Nigerian Economic Summit with the theme “Tough Choices: Achieving Competitiveness, Inclusive Growth and Sustainability.”
He, however, added that the country was also at a time of what he described as incredible opportunities for achieving competitiveness.
“We are at a time of monumental challenges and tough choices, but also a time of incredible opportunities for achieving competitiveness, inclusive growth and sustainability,” the president said.
Buhari, whose speech was read by Vice President Yemi Osinbajo, also stated that he was called upon to clean up the mess and rebuild the institutions that corruption had ravaged over the years.
“We, as a government, are called upon to make tough choices in exchange control restrictions, altering the absurd recurrent to capital expenditure ratio, reducing the deficit and reducing the overall size of governance. We are called upon to clean up the mess and rebuild the institutions that corruption has ravaged over the years,” the president said.
President Buhari said his government would build an economic model that would involve substantial social investment over the next three years.
“We are redress the high growth compelled paradox figures to of and widening inequality, rising unemployment and poverty. It is evident that any economic model that leaves nearly half of the citizenry behind requires re-thinking. This is why our economic model would involve substantial social investments over the next three years,” he said.
During the Presidential Policy Dialogue, the vice president said the Conditional Cash Transfer policy and the renewed support for medium and small enterprises would generate employment as well as reduce poverty, social tension and criminality. The House of Representatives yesterday urged the federal ministry of works to urgently initiate the process of reconstructing and dualizing the Gwarzo-Dayi road in Kano State.
The House took the decision after adopting a motion by Rep Nasiru Sule Garo (APC, Kano) and 21 others.
The House noted that the road had been in a state of disrepair as a result of which many lives and property were lost daily.
Garo noted that only recently, a former zonal director of the Federal Radio Corporation of Nigeria (FRCN) Halilu Ahmad Getso lost 11 members of his family on the road as a result of an accident that claimed 14 lives.
Consequently, the House urged the Federal Roads Maintenance Agency (FERMA) to immediately commence remedial works to alleviate the suffering of people plying the road, pending when construction proper begins.
In another motion, the House urged FERMA to undertake an emergency maintenance works to ameliorate the suffering of commuters on Iruekpen-Ehor section of the Auchi-Ekpoma-EhorBenin City highway.
Passing the motion sponsored by Rep Patrick Aisowieren, the lawmakers also urged the federal ministry of works to direct the contractors handling the road project to return to site to complete the work.
Vice President Yemi Osinbajo being conducted round exhibition stands at the 21st Nigerian Economic Summit, Abuja yesterday.