Saturday, 27 July 2013

Nigeria On Right Track To Economic Recovery — Jonathan

26 July, 2013
Business and Economy
President Goodluck Jonathan yesterday said that in spite of worrying insecurity confronting the country and the global economic instability that the nation's economy is witnessing a boom.
“At a time many advanced and emerging markets are being downgraded, our sovereign credit ratings have been steadily upgraded,” Jonathan said in Abuja while declaring open the sixth Diaspora Day celebration
He revealed that his administration is hard at work to make the nation's democratic institutions stronger and adding that issues of governance and corruption were also being vigorously tackled on all fronts.
According to him, the country has been able to further reduce the fiscal deficit in 2013 Budget to 1.81 per cent of GDP, and significantly cut domestic borrowing.
He said: “We have rebalanced our spending in favour of capital expenditure. The rate of inflation also dropped to single digit territory at the beginning of this year.”
President Jonathan, who was represented by Vice-President Namadi Sambo, appealed to Nigerians in the Diaspora to bring their experience, expertise and contacts to bear on all facets of national life.

He added that the Diaspora conference should now “constitute a viable and proactive platform for marshalling Nigerians abroad to transfer their competences and technical skills as a means of strengthening our technological base and in furtherance of profitable investments, which will in turn create jobs here.”