Nigeria In Recession: APC Issues Statement
The All Progressives Congress has maintained that the President Muhammadu Buhari-led administration is committed to resuscitating the economy from its recent plunge into recession.
The National Secretary of the party, Mai Bala Buni, said this in a statement he signed in Abuja on Thursday.
According to the APC, the threatening signs were conspicuous to the immediate-past administration but it chose the path of economic damage through its bad policies.
Buni said, “Nigerians will recall that even the immediate-past finance minister and coordinating minister of the economy, confessed that the zero political will to save under the immediate-past administration is responsible for the challenges facing the country.
“Happily, the President Muhammadu Buhari administration has embarked on well-thought-out economic agenda, policy actions, appropriate fiscal governance, and socio-political reforms to revamp the economy and tackle the nation’s current challenges in the short to long term.
“Under the new flexible foreign exchange policy introduced by the Central Bank of Nigeria in June 2016, we now have a single market-determined exchange rate which enables suppliers of foreign currencies to bring in their money and take the same out at market-determined rates. The new foreign exchange policy being implemented will ensure our economy recovers in the medium to long term.”