The Nigeria’s Leader, President Muhammadu Buhari says the peak his administration economic achievement is evident in the Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS).
According to him, the 4.03 per cent growth recorded in the third quarter of 2021 “is indicative of the recovery being recorded in our economy and the confidence that is being shown through the policies” that our Administration his put in place after the outbreak of the pandemic.
In his New year message, President Buhari recalled that the recent growth was closely followed by the 5.1 per cent (year on year) growth in real terms recorded by Nigeria in Quarter 2 of 2021, adding that the growth was one of the best recorded by any nation across Sub-Saharan Africa.
He added that the 5.1 per cent growth at that time was and remains the highest growth recorded by the Nigerian economy since 2014.
“Despite the challenges we have faced as a Nation, the good news is that we have so far recorded four consecutive quarters of growth after the negative growth rates recorded in Quarter 2 and Quarter 3 of 2020 due to the effect of the COVID-19 pandemic.
“On August 16, 2021 I signed the landmark Petroleum Industry Act into law. The signing of this legacy legislation is a watershed moment in the history of our Nation, considering the massive positive impact the new Act would have on the economy. I would like to sincerely commend the 9th Assembly for the grit they demonstrated, succeeding where others have failed, and the cooperation that led to the completion of this process after almost two decades” the President recounted.
Buhari also recalled that the investment trips and fora that he attended recently are expected to serve as a liberalizing force in the energy industry, noting that the executive was optimistic that law would provide the much-needed legal, governance, regulatory and fiscal framework for the development of the energy sector, the host communities, and Nigeria as a Nation.
“Our objective to increase Liquefied Natural Gas exports and expand our domestic market is still very much at the forefront of some of the policies we would be pushing in the new year” Buhari assured.
Moving forward, the President said in the new year, his Administration would intentionally leverage ICT platforms to create jobs, while ensuring that the diversification of our economy creates more support to other emerging sectors, announcing that several foreign investors are taking advantage of “our ranking as one of the leading start-up ecosystems in Africa to invest in our digital economy”.
“We have given the utmost priority to fighting corruption and other related offenses which have been a bane to the growth and prosperity of our dear Nation. We have made major strides and breakthroughs through the innovative use of technology and forensics in the investigative and prosecutorial procedures with commendable results to show that the anti-corruption drive of our Administration is succeeding” he stressed.
.Despite many challenges in 2021, the President said his administration successfully executed key projects, programmes, and initiatives to fulfill the promises made under the Security, Economy Anti-corruption (SEA) agenda.