Buhari has done well, FG replies Obasanjo

exited recession through a mere order or if the Administration had not made use of ”good Nigerians” who could help.

He listed some of the achievements of the Buhari administration as follows:

“This Administration is making steady progress in its determined effort to revamp the economy, and the results are showing,” the minister said.

* Foreign Reserves have peaked at $40b, the highest level in about four years, and up from $24 billion just a year ago even with low oil price of oil.

* According to the National Bureau of Statistics (NBC), headline inflation has fallen for 11 consecutive months, standing at 15.37% as at Dec. 2017, the lowest since Jan 2017, and also surpassed the target set for inflation in the Administration’s Economic Recovery and Growth Plan (ERGP).

* The Treasury Single Account (TSA) has stopped the haemorrhaging of the treasury. Some 108 billion Naira has been saved from removal of maintenance fees payable to banks, resulting in N24.7 billion Naira savings monthly.

* The elimination of ghost workers has saved the nation 120 billion Naira * At about 1.8 billion dollars, the capital inflows in the second quarter of 2017 were almost double the $908 million in the first quarter.

* Nigeria’s stock market emerged one of the best-performing in the world, delivering returns in excess of 40 percent.

* Nigeria rose 24 places on the World Bank’s Ease of Doing Business ranking, and earned a place on the List of Top 10 Reformers in the world.

* According to Q3 2017 figures, agriculture export is up year-on-year by 25%, solid minerals exports are up year-on-year by 78%, raw materials exports are up 70% year-on-year and manufactured goods exports are up 22% year-on-year.

* Government agencies such as the Nigeria Customs Service are reporting highest-ever revenue collection, while JAMB, under the new management appointed by President Buhari in 2016, remitted N7.8 billion to the coffers of the federal government. The total amount remitted by JAMB between 2010 and 2016 was a paltry N51 million!

*When we assumed office in 2015, some 6 million farmers were involved in rice production... We have grown that number to over 12 million farmers.

The result is that our rice import from Thailand alone has dropped from 644,000 metric tonnes to 22,000 MT in just two years.

*Nigeria is now the second largest producer of sorghum after the US and the third in millet after India.

*For maize, we are producing 10 million tons while we need about 13 million tons for both human and animal nutrition.

*Nigeria account for 70% of the world’s yam production. In two years, we hope to be the world’s largest exporter of yam.

Overall, our ambition is that agriculture should rise from 25% to 40% of GDP, so that we can banish poverty and overcome our economic anxiety. Our Social Investment Programme

Nigeria’s most ambitious social is welfare programme ever. Currently, 5.2 million primary school children in 28,249 schools in 19 states are being fed daily; 200,000 unemployed graduates have enlisted into the N-power Job Scheme, and a quarter of a million loans already distributed to artisans, traders, and farmers.

“Finally, our investment in infrastructure is simply unprecedented. This is because infrastructure is key to faster economic growth and development. He listed them as follows:

* Power Generation at an alltime high of 7,000mw and all can be transmitted * RAIL: Lagos-Kano Standard Gauge is on. Lagos-Ibadan sector ready 2019, Kano-Kaduna ready 2019; The entire stretch ready 2021; Negotiations on for Coastal Rail covering 15 cities from Lagos to Calabar.

* ROAD: 25 major highways being funded with the N100b Sukuk Bond, and all geo-political zones are benefitting equally This Administration is not unaware of the enormity of the challenges facing the nation, but we are up to the task. We have taken the bull by the horns, and long-suffering Nigerians will begin to experience a new lease of life as our efforts yield fruits. We will not go into a state of funk for whatever reason.

The minister described as a distraction, the issue of whether Buhari should seek re-election in 2019, saying the president was preoccupied with addressing the huge challenges facing Nigeria and was committed to fulfilling the mandate given him by the electorate.

“On whether or not President Muhammadu Buhari should run for another term, it is true that many Nigerians have been calling on the president to run again, while others are opposed to his return.

“However, we believe this issue is a distraction for the President at this time. This is because Mr. President spends every waking hours tackling the enormous challenges facing the nation, most of which were bequeathed to his administration by successive past Administrations. He is committed to fulfilling the mandate given to him by Nigerians in 2015. And that’s where we are right now!”

He said the government had no reason to believe that Obasanjo had any motive beyond the well-being of the nation in issuing his special press statement.

The minister said the government had also taken Obasanjo’s admonition in good faith and thanked him “most sincerely for taking time off his busy schedule to pen such a long statement.”

He said the government was not unaware of the enormity of the challenges facing the nation, ‘but we are up to the task.”

He said the government had taken “the bull by the horns and longsuffering Nigerians will begin to experience a new lease of life as our efforts yield fruits. We will not go into a state of funk for whatever reason.”

He said the government was determined to end the herdsmen/ farmers crisis ‘once and for all, not minding that the clashes predate us.

“I will urge Nigerians to have faith in the Administration’s ability to resolve the crisis, and to watch out for concrete measures in this regard.” (See FG’s full statement on page 12 )