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Nigeria needs change – Presidency

The Presidency, on Wednesday night, described as false the claim of the Democratic People’s Party that the Nigerian economy is in trouble.

Presidential spokesman Garba Shehu said in a statement: “President Buhari remains the best hope for the Nigerian economy. The country needs a change, and this is still the person with the will and determination to comply.”

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Shehu said that, according to historical trends, there was less economic activity during the election cycle.

However, he said the economy grew 2.35 percent in the second quarter of 2015 and 3.96 percent in the first quarter of 2015 compared to 5.94 percent in the fourth quarter of 2014.

Shehu said: “It is also notable that the importation of capital into Nigeria grew by 216 percent in the first quarter of 2019 compared to the last quarter of 2018.”

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He also noted that foreign portfolio investment, which is still a foreign investment, was 7.14 billion dollars in the first quarter of the year.

” A look at the business pages in the newspapers shows that there is a lot of commercial activity in the country — two stories in today’s newspaper point to more economic activity. First, UACN earnings grew in the first half of this year by 61 percent.

Second, that Business Day (pg1) states that cargo imports increased by 21 percent in the first half of 2019. The increase in imports is an indicator of increased economic activity and the availability of currencies with which to do business.

The presidential assistant noted that an essential restriction for business was the stagnation of Apapa, which several companies had mentioned as the main impediment to doing business. However, he noted that this situation had significantly improved.

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Shehu revealed that, in its first four years, Buhari improved relations with China, USA. UU. And Europe and had won its support for the administration’s development agenda.

He also revealed that the President had channeled unprecedented amounts of money towards infrastructure development, saying that capital spending had remained at around 30 percent of annual budgets.

The construction of roads, highways, public transport, and airports has increased considerably. The government is spending a lot of power.

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