The Minister said despite the fake news being spread across the country through various Media, Nigeria is making steady progress, especially in revamping the economy.
The Minister of Information and Culture, Alhaji Lai Mohammed, stated that President Buhari is competent enough to pilot the affairs of the country and so Nigeria is in a safe hand with the President.
The Minister said this at a mini town hall meeting with the staff of the Nigerian Embassy in Madrid, Spain, and a cross section of Nigerians living in the European country on Saturday.
He said despite the fake news spread across the country through various Media, Nigeria is making steady progress, especially in revamping the economy, tackling insecurity and fighting corruption – the three cardinal programmes of the Buhari Administration
“Don’t believe everything you read on the Social Media. Nigeria is neither at war nor in crisis. Contrary to what you may be reading on the Internet, the Buhari Administration is putting Nigeria on a solid footing, after the years that were eaten by the locust.” he said
The Minister said the Preident Buhari’s Administration’s achievements should be evaluated against the background of the tough challenges that it has faced since coming into office on 29 May 2015..
“It is said that if you don’t know where you are coming from, you won’t know where you are going,” he said, listing the drastic fall in the price of crude oil, the low foreign reserves at $24 billion, the fact that the federal government was borrowing to pay workers’ salaries, and the fact that many states were unable to pay salaries as some of those challenges”
Alhaji Mohammed went further to give details about how the economy of the country has been improved. In his words:
“Today, the trend is being reversed, and the results are showing: Foreign reserves is now $42.8b, the highest level in four years, inflation has fallen for 12 consecutive months to 15.13%, 108 billion Naira has been saved from removal of maintenance fees payable to banks before Treasury Single Account (TSA), the nation is being saved 24.7 billion Naira monthly with the full implementation of the TSA and the elimination of ghost workers has saved the nation 120 billion Naira.
“With improved macro-economic conditions, capital inflow is on the upswing, reaching $1.8 billion in the second quarter of 2017, which is almost double the $908 million in the first quarter, Nigeria’s stock market is one of the best-performing in the world, delivering returns in excess of 40 percent, Nigeria jumped 24 places on the World Bank’s Ease of Doing Business ranking, and earned a place on the List of Top 10 Reformers in the world,” he said.
Nigeria’s Ambassador to Spain, Mrs. Susan Aderonke Folarin, led the staff of the embassy to the town hall meeting, which was held at the embassy premises.