The All Progressives Congress (APC) has said that the past era of profligacy, voodoo economics and waste which brought Nigeria’s economy to its knees are fast fading.
The APC also said that with continued support for President Muhammadu Buhari-led Federal Government Nigeria’s economy can only get better just as it said that the president was keeping his promises to Nigerians by working on the Next Level plans for the country.
Sen. John Akpanudoedehe National Secretary, APC Caretaker and Extra-ordinary Convention Planning Committee (CECPC) said this in a statement on Thursday in Abuja.
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He was reacting to the latest report of National Bureau of Statistics (NBS) indicating Nigeria had exited recession after its Gross Domestic Product (GDP) grew by a marginal 0.11 per cent.
Akpanudoedehe said the NBS report which said Nigeria exited recession in the fourth quarter of 2020, gave credence to the fact that the Buhari-led government: “walks the talk on its promises to Nigerians.”
He recalled that Buhari had promised that Nigeria would exit recession within a short time, adding that the promise had been kept.
“Commendably, Nigeria’s exit from recession is the country’s first growth in three quarters amid the Coronavirus restrictions and consequent economic slowdown,” he said.
Akpanudoedehe explained that the development was not a fluke but a result of well planned measures lined up by the federal government to ensure the country’s quick exit from recession.
According to him, the country’s early exit from recession is as a result of among other things, the successful implementation of federal government’s Economic Sustainability Plan (ESP).
This, he said, ensured stimulation of the country’s economy to prevent business collapse, retaining and creating jobs through support to labour intensive sectors such as agriculture and direct labour interventions.
He added that it also included infrastructure investments in roads, rails, bridges as well as promoting manufacturing and local production.
According to him, this created job opportunities and pro-poor spending and other social investments targeting the very poor and other vulnerable groups in the country.
Akpanudoedehe commended stakeholders, particularly the National Assembly, private sector and Nigerians for supporting economic initiatives implemented by the government to exit recession.
“Nigerians will agree that the past era of profligacy, voodoo economics and waste which brought our economy to its knees are fast fading.
“With continued support for Buhari’s administration, the economy can only get better,” he said.
