This Is What Buhari Is Doing To Get Nigeria Out Of Recession – Presidency

The Presidency has dismissed reports that the President Muhammadu Buhari-led administration has no solution to the current economic recession.

Senior Special Assistant on Media and Publicity to the President, Mallam Garba Shehu, said this in a 2,176-page piece.

However, he said the present circumstance demands patriotism and sacrifice from all Nigerians to ensure that the country returns to sustainable growth.

Highlighting some of Buhari’s methods of strengthening the economy, he said: “See what the current administration is doing to sanitize the huge salary bill by eliminating payroll fraud. So far, the federal payroll has been rid of about 40,000 ghost workers. More than eight billion Naira stolen monthly has been saved.

‘’We are also saving on wasteful expenses like First Class travels and use of private jets for official trips. The federal government is not limiting the reforms to the center but forcing state governments to reform their spending and build savings or investments.

‘’Government is also increasing spending on capital projects especially on infrastructure needed to make Nigerian businesses competitive and create jobs. The administration is at the same time blocking leakages that allowed government revenues to be siphoned into private hands.

‘’Currently, there is a focus on key sectors apart from oil that can create jobs and or generate revenue such as agriculture, solid minerals and manufacturing. If these things had been done when the oil price was as high as $140 per barrel, Nigeria would not be in the current predicament. We would not be suffering now if we had cash reserves, regular supply of power, a good rail system, good roads and good housing.

‘’ From its records so far, this administration is trying to reset the Nigerian economy and ensure that it attains its potential. We are doing this at a time when the global economy is in crisis due to the oil price collapse. Even rich nations like Saudi Arabia are experiencing problems.

“The government is people-focused and wants the economy to grow in a way that will create a more stable future which is not dictated by world oil prices. No more boom and bust.

‘’Nigeria wants to take responsibility for its own destiny. Therefore, our policies will ensure that Nigeria returns to growth in a sustainable manner. No more dependence on oil. Every part of Nigeria has a role to play in contributing to our growth. We will create an environment where people can thrive and where businesses can grow.”