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Fg Emergency Economic Measures - Politics - Nairaland

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Fg Emergency Economic Measures by Nobody: 4:53pm On Aug 12, 2016
•FG is reducing fiscal and forex imbalances; boosting dollar liquidity; curbing inflation; lowering interest rate, ensuring lending to the real sector as well as increasing Foreign Direct Investments (FDI).

•Government is also encouraging Public Private Partnerships (PPP); deepening diversification; creating jobs directly and indirectly as well as reducing poverty.

•Government would release another N100 billion in the next few days.

•FG has already released N332bn for power, works, housing, defence, transportation and agriculture sectors which are more than the entire amount released last year for capital expenditure.

•Government has scheduled a Quarterly Business Briefing as a means of institutionalising policy dialogue starting next quarter.

•Government has taken steps to boost household and social spending which are key steps to prevent the economy from falling into deep recession.

•Government recently intervened with bail-out funds and the latest loan of N90bn to states.

•FG has deregulated the downstream petroleum sector and it has made significant impact in the country. This action has led to reduced daily demand for premium motor spirit (PMS) for which the daily demand has reduced from 1,600 trucks per day to 850 trucks per day resulting in the savings of N1.4 trillion on subsidy payments.

•The introduction of a flexible exchange rate regime has helped to ease the pressure on the external reserves.

•Nigerian agricultural products are being exported to neighbouring countries in substantial quantities resulting in more foreign direct investments.

•Additional 700,000 companies has been added to the tax net as compared to the targeted 500,000 set at the beginning of the year. Non-oil revenue from both FIRS and Customs continues to lag behind projections partly due to seasonal factors and economic conditions, but the FIRS has achieved 73.17% of its target for the first half of the year.

•The recent settlement on Ajaokuta holds out the promise for reviving our iron and steel industry.

•The Abuja-Kaduna standard gauge rail line has started operation, work is underway with regard to the first leg of the Lagos-Kano railway which will run from Lagos to Ibadan and the Calabar-Lagos line which will start at that end of the year.

•Government has paid N70bn to contractors who had not been paid in over two years with over 70 construction firms benefiting. This has resulted in the recall of not less than 5,000 workers. Work has started on sections of Kano-Katsina; Kano-Maiduguri; Ilorin-Jebba; and Lagos-Ibadan roads amongst others.

•In terms of addressing poverty and youth unemployment, this administration has established the most far reaching N500bn social investment programme with the current applications on the N-Power website for recruiting young graduates reaching 710,000.
Re: Fg Emergency Economic Measures by mayorbch(m): 5:43pm On Aug 12, 2016
The claims may not be entirely untrue but what's the assurance that they are not entirely false?

Wait for two days, if another government appointee doesn't refute these claims, then choose thee what to believe. It's a free world altogether and a country on "autopilot"

Smh

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