Recall that I informed you that inflation dropped from 10.2% in June to 9.4% in July. I am pleased to say that the inflation rate again dropped to 9.3% in August as confirmed by the CBN and independent international organizations. This is as our economy grew by 7.72% in the second quarter. As we tighten fiscal and monetary policies and direct resources to education (which has the highest allocation in the budget), power and roads, we will also see similar growth in our developmental indices. GEJ

Kx:

Another good economic performance[b] on paper[/b].

welovethee:

The journey of a thousand mile begins with a step. These are good signs that progress is eminent.
GEJ CARRY GO!!!

werepeLeri:

doomsday prophets dont want to hear these figures. Well done sir.

Demdem:

Honestly, too much grammar from the President.
Rice, beans, Garri, Pepper, Yam, Fish, Meat, transport fare, Accommodation cost etc is increasing by the day. GEJ, what can you say to that?

badmrkt:

i'm impressed by this,but NLs can't we ever be optimistic for once?@times i get tired how some of us react to certain issues.that we'r like this today doesn't mean will not get to the ''PROMISE LAND''and that can be achieved the moment we start appreciating our little efforts.please lets appreciate our leaders for once this only can boost their morals to do more, GJE well done sir,we expect more from you.

Kolababa:

Secondary school students in America are far better than some graduates on this nairaland. When your government tells you anything, as an intelectual, you have to verify the reality of the paper acheivements they are giving with what is on ground having known our government in Nigeria for brandishing figures that you cannot see. Clapping for GEJ on this is like dancing round the street for hearing that $16 billion has been budgetted for power supply that power will soon be stable. I read it on New York Times sometimes ago how secondary school students were analysing and criticising budget. But in Nigeria, the semi illiterates that call themselves graduates will continue clapping when they know that the government is telling lies. The problem with our politicians in Nigeria is that they dont know the difference between matter of national urgency/seriousness and political gimmicks. The Education minister told us last year that the standard of education had risen by 37% but the mass failure in WAEC and NECO get worsens every year and i know the sombis on this nairaland will clap when they hear this figure from the education minister.
WHO IS DECEIVING WHO?
That is why when our past leaders were calling themselves fools, somebody said that those people they ruled are also fools.
FOOLS WILL ALWAYS BE RULED BY BIG FOOLS.tes that call themselves graduates will continue clapping when they know that the government is telling lies. The problem with our politicians in Nigeria is that they dont know the difference between matter of national urgency/seriousness and political gimmicks. The Education minister told us last year that the standard of education had risen by 37% but the mass failure in WAEC and NECO get worsens every year and i know the sombis on this nairaland will clap when they hear this figure from the education minister.
WHO IS DECEIVING WHO?
That is why when our past leaders were calling themselves fools, somebody said that those people they ruled are also fools.
FOOLS WILL ALWAYS BE RULED BY BIG FOOLS.

HNosegbe:

Yes, it is true that inflation rate overall has fallen to single-digits, but I think it is necessary, lest we fall into the trap of unnecessary complacency and back-patting, to remind ourselves that core inflation, which is inflation adjusted for the effects of volatile commodities like energy and food prices, is still above 11 percent. Also, our economic growth has failed to impact the majority of Nigerians because it has been largely concentrated in industries such as trading and oil and gas, industries which are not particularly known for creating jobs on a large scale. Our apparent macroeconomic progress is also accompanied by a structural imbalance which has ensured that the increase in national wealth is only circulated among a minuscule percentage of the population, leaving the vast majority without any benefits whatsoever. Thus, most Nigerians have not felt the impact of economic growth.

For this "growth" to be truly felt by Nigerians, the emphasis of government must be shifted from merely increasing GDP at an aggregate level to ensuring that the growth occurs more in the job-creating sectors of the economy, particularly manufacturing. This cannot occur without structural changes, a buoyant agriculture/mining sector to provide necessary inputs, self-sufficiency in refining oil, favourable trade laws and investment climate, a sound transport network that will emphasise rail over road transport, and, last but not least, steady and reliable power supply. These necessary conditions, along with sufficient conditions such as safety and security of lives and property, improved skill levels of the populace, improved health care delivery and improved attitude of the leaders and the led are among the necesary structural changes that government must lead the way in bringing about before Nigeria as  a nation can truly begin to make progress and fulfil its potential. Anything outside of these will be simply superficial.