President Muhammadu Buhari, has on Wednesday, September 21, said that the Federal Government will invest substantial part of its foreign and local loans into the development of critical infrastructure.
The President, stated that borrowed funds will be judiciously utilized to revive stalled Roads, Rail, Power, Port Projects, and in Agricultural Initiatives, that will significantly boost the domestic production of food, and end economic recession.
Buhari disclosed this in an article published in Bloomberg International titled, ‘Making Africa Rising a Reality’.
According to Buhari, the long old thinking about Africa as a continent with a promising potential, has given way to more questioning concerns.
“Unlike in the past when borrowed funds were frittered away on unproductive ventures, we will ensure their investment in the revival of stalled road, rail, power and port projects, and in agricultural initiatives, that will significantly boost domestic production of food.
“For far too long we have under-invested in infrastructure, the most critical element for creating sustainable economic growth. The net effect: an avoidably high cost of doing business in Nigeria,” he stressed.
Buhari added: “We have begun raising a $1 billion Eurobond, our first in three years. We are also raising debt from the World Bank, the African Development Bank, the Chinese Exim Bank, and other development finance partners.”
The President, noted that since the signing of the 2016 budget into law, government has released about N400 billion for various infrastructure projects.
The President, added that rather than lament on the current economic challenges, government will not be distracted.
He challenged other African leaders, to see the fall in oil and commodities, as an opportunity to create new areas of wealth, that would guarantee the well being of citizens.
“The journey ahead remains long and difficult. Our double-digit inflation, currency turmoil, and downgraded ratings will not vanish overnight.
“But the real story here is not the challenges, which are all too visible, but the opportunities. We have learned the necessary lessons. We will ensure that Nigeria does not slip back into a lazy and dangerous dependence on the price of crude oil.
“We will continue to insist on transparency and accountability in the use of government funds. And we will build an economy that prioritizes the ease of doing business and investing, and that thrives on the entrepreneurial energy and ingenuity of our people….
“The months ahead will show not only that Nigeria is on the rise, but that this “Rising” is real and lasting, one that touches not just the statistical databases, but the lives of the people who elected us to deliver positive change.”
In a related development, the Federal Government will soon embark on wide ranging reforms, expected to provide a favourable environment for businesses in the country.
Buhari, who disclosed this in New York, said Vice-President, Yemi Osinbajo will soon make public the reform strategies, affecting the Nation’s Ports, and issues relating to visa on arrival.


http://www.weeklypostng.org/2016/09/jubilation-as-buhari-ends-recession.html

Well let's hope for the best...God help nigeria only you can

We are hopeful !

Can you imagine the fvckery

Jubilation For zombie right??

It will. Work


Nigeria will be great again

Buhari have always been an abysmal failure. Whatsoever he touches never prosper.

Buharicow is useless. I voted for Him that's y i'm not happy. I campaigned for him but my driver an elderly man warned me, but I accused him of being tribalistic. Now i'm ashamed of myself. I see Nigeria as one. I don't care where d president comes from. PDP and APC are both useless. We need another party with a younger candidate. I really don't know what I was thinking b4 voting for this old manFool

Mrmoz:
Well let's hope for the best...God help nigeria only you can

. Nice speech mr president. Nigeria will be great.

xana101:
Buharicow is useless. I voted for Him that's y i'm not happy. I campaigned for him but my driver an elderly man warned me, but I accused him of being tribalistic. Now i'm ashamed of myself. I see Nigeria as one. I don't care where d president comes from. PDP and APC are both useless. We need another party with a younger candidate. I really don't know what I was thinking b4 voting for this old manFool

Good for acknowledging the fact that pdp is also useless

HtwoOw:
It will. Work


Nigeria will be great again

was nigeria ever great?

Nigerians should stop feeling excited about PROMISES..... wait until Atleast the money is released, received and utilized accordingly

How about the N4trn debt in one year

ITbomb:
How about the N4trn debt in one year

devaluation made the figure bigger than previous years. It N2.2tr sha i didnt read N4tr.

U are absolutely wrong!

Fellas all we have to do is to hope for the best, i really hope the 5 points agenda works

Is Ni.Geria a name of person, animal or thing?

Ok.

End time president.

No wonder we have PMB as president. APC will just write sweet and nice statements and send out. Surprisingly, Nigerians will start saying 'I believe you', Nigeria will be great again bla bla bla. It is on a newspaper stand someone said that APC is good @ releasing headlines to keep people busy all week long while buying time to cover their incompetence. Even if you are a Zombie, for how long will you remain 1? Smh....

ojmaroni247:
We will,we want to, we are Goin to, we are about to, we have set aside, we are preparing to! . Baba which way

What were you expecting him to say? Didn't your English Language teacher teach you past, present and future tenses?

Remii:
devaluation made the figure bigger than previous years. It N2.2tr sha i didnt read N4tr.

2tr local debt and 2tr foreign debt. Do the maths

bubuhari ends recession?

do u pple mean to tell me recession has a off/on switch



what a bunch of zombies

five point agenda ko unlimited point agenda ni

All progressive compass promises is the pipe line. ;DAll progressive compass promises is the pipe line.

xana101:
Buharicow is useless. I voted for Him that's y i'm not happy. I campaigned for him but my driver an elderly man warned me, but I accused him of being tribalistic. Now i'm ashamed of myself. I see Nigeria as one. I don't care where d president comes from. PDP and APC are both useless. We need another party with a younger candidate. I really don't know what I was thinking b4 voting for this old manFool

From ur comment u are part of the problem of Nigeria. All u do is insult and abuse people, and its not like u can do any better if given the opportunity. Try to change ur attitude!

we will that man is still campaigning .

Tell it to the apc

ojmaroni247:
[size=18pt]We will,we want to, we are Goin to, we are about to, we have set aside, we are preparing to! . Baba which way[/size]

always futuristic

God Bless Nigeria

Who are those jubilating ontop "we will"