Abuja, April 22, 2019 The international community has expressed satisfaction with the economy reform programmes of President Muhammadu Buhari’s administration especially for nurturing the nation’s economy from recession to sustainable growth.
The Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this on Monday while speaking on his post election trip to the U.S. and UK on a live TVC News Programme, “This Morning”.
The minister who just returned from working visits to Washington and London said he interacted with international think-tanks and influential media organisations who were happy with the agenda of the administration at reforming the economy.
”The global community was happy that the administration have succeeded in diversifying the economy away from just oil.
”Though oil still remains an important part of the economy, but you will understand that in 2018, oil accounted for only 9.6 per cent of the GDP while the non-oil sector accounted for 54 per cent of the GDP.
”This is significant in measuring the economy recovery of the country.
”They also hail the fact that post elections, the international investing community has invested so much in Nigeria,” he said.
The minister added that since the country came out of recession, the economy has recorded growth for six consecutive quarters.
He said the country has recorded growth in the ease of doing business index while the country gained six points along the upward ladder in the Mo Ibrahim index of good governance.
”The international community nails certain initiatives such as the National Single Window, an e+platform, which allows for registration of companies online and filing of tax returns.
”These have eliminated the contact between the authorities and the companies and that has helped in reducing complications and making doing business easier.
”Our massive investments in infrastructure including power, rail, roads have also helped in stimulating the economy.
”The CBN initiative especially the Refinancing Programme has contributed about N609 billion to help in carry out about 589 projects and created about 1.5 million jobs as well as creating financial inclusion in the polity,” he said.
The minister said the new administration of President Buhari would continue with the economy reform agenda to make life better for every Nigerian.