AFRICA

Abbas: FG Implemented Strategic Reforms To Restore Nigeria’s Economic Recovery

The Speaker of the House of Representatives, Hon. Tajudeen Abbas, Saturday said the federal government had implemented some strategic reforms to restore economic stability in the country.

Abbas disclosed this during the opening ceremony of the 45th Kaduna International Trade Fair in Kaduna.

The fair has the theme: ‘Sustainable Economic Recovery Through Deepening of Local Content Value Chain.’

Abbas, who was represented by Hon. James Barka (PDP-Adamawa), said the federal government, major stakeholders, and the National Assembly were determined to restore macro and micro economic stability in the country.

He said: “This year’s edition of the fair came at the right time as efforts are being channelled towards achieving sustainable economic recovery in the country.

“There have been creative steps in policy reforms across all the sectors, with an intended focus on repositioning our nation as truly the economic giant of Africa, producing significant achievement in fiscal and monetary consolidation.

“It is also expected that the resultant effects of these steps will lead to a reduction of the menace of insecurity affecting our economic growth, strengthening our public service institutions and improving the overall business environment for increased productivity.

“We are beginning to see dividends of new policies of this administration with a boost in investment growth across major segments of the economy, attracting new foreign investors and returning the country to a sustainable and inclusive road path.

“The road might appear rough, but I am happy, we are making significant progress,” he said.

Abbas said there was a specific improvement in Nigeria’s non-oil sector in the last National Bureau of Statistics report, adding that, “the quarter for 2023 GDP report shows an improvement of 3.46 per cent growth from the previous growth of 2.54 per cent.

The speaker said: “We are surely not where we are expected to be at the moment, but the good news is that we are not where we were yesterday. We are surely making progress.

“The theme of this year’s fair reminds us of the fact that Nigeria’s problem can only be resolved by Nigerians.

“We must all be ready to collaborate and support the federal government’s efforts in energising the economy through the creation of an investment-friendly environment.

“Our dear country, Nigeria is blessed as a nation with abundant human and natural resources and the right policies for economic growth.

“With the economic willpower to implement the policies available, Nigeria can become one of the global economic powers,” he added.

Abbas urged all the stakeholders to support the drive of the present administration to bring an economy that can bring prosperity to all Nigerians.

He added: “The 10th National Assembly is determined to ensure that business owners and investors in Nigeria’s economic space are specifically provided with a more conducive environment to succeed.

“They will succeed profitably with marginal returns on investments and their capital well protected with various business incentives currently under implementation by this current administration.

“It is time to roll up our sleeves and work for the common good of our people, for history beckons on all of us to do so.

“We will ensure that entrepreneurs in Nigeria receive all the necessary support needed in commitment to make significant contributions in creating a new Nigeria.

“This is to have the growth of a digitalised economy, sustainable employment for our teeming youth, and making our country gain a frontline position as the bedrock for economic growth and development in Africa,” he added.

John Shiklam