Our Economy Is Growing Thanks To Buhari’s Government – BMO

Posted by: Folamidavid in News, Politics Dec 16, 2019

The Buhari Media Organisation (BMO) has come out to say that Nigeria has recorded decent growth in its economy because of the political will of the President Muhammadu Buhari-led government.

In a recent statement signed by its Chairman, Niyi Akinsiju in Abuja on Monday, BMO revealed that Nigeria has recorded some positives economically.

He added that this goes to prove that Buhari’s government has been very transparent and the president is recording landmark strides in different aspects of the economy.

Their words, “We have seen how Nigeria has within a few days recorded some landmark strides on several fronts relating to the economy.

“One of them is the N5.2 billion trading surplus recorded by the Nigerian National Petroleum Corporation (NNPC) for the month of August.

“It is gratifying that the figure is a 22 per cent increase on the N4.26 billion surplus posted in July and this, we believe, is a clear indication that the national oil company can indeed operate profitably.

“It also reflects the transparency that the Buhari administration is bringing into governance when one considers that an NNPC which operations had in the past been opaque is now issuing regular updates on its finances and operational expenditures.

“We also acknowledge that the value of Nigeria’s total trade in the third quarter of 2019 stands at N9,187.6billion, representing a 6.77 per cent increase over the value recorded in the second quarter,2019 and a 1.33 per cent increase on the third quarter, 2018.

“And although there was a slight decline in import figure, the increase in export-led to a positive trade balance of N1,389.3billion during the period under review.”

“We recognise that this is a consequence of the installation of 68 transformers nationwide between 2017 and October 2019 through the implementation of the Transmission Rehabilitation and Expansion Programme.

“There is no doubt that this will further improve electricity supply and also create a ripple effect in the formal and non-formal sectors in terms of job creation.

“It is a massive milestone in a country where previous administrations are on record to have spent billions of dollars over 20 years with little improvement in the country’s power generation and transmission capacity.”