39 Views

4 Things President Buhari Has Done To Save Nigeria From Sinking Into Recession

Nigeria had gradually slipped into a recession in the past few weeks but it was made official on Wednesday, 31st August when the National Bureau of Statistics (NBS) released the figures.

The Gross Domestic Product shrunk by -2.06 percent at the end of the second quarter of 2016, the Buhari administration has admitted that the country needs all the help it can get and the minister of Finance, Kemi Adeosun has assured Nigerians that this is only a phase that will soon pass.

From Wednesday till now, it is only right that we bring you a summary of some of the activities of the presidency geared towards saving Nigeria from the Recession.

1. The e-wallet fertilizer scheme has been revived: This policy was introduced by former President Goodluck Jonathan’s administration to address the menace of middlemen in the distribution of fertilizers to farmers. The policy was suspended by the Buhari administration a year ago as they called it unsustainable, but it now has to fall back on it to save the economy from plunging further. The e-wallet fertilizer scheme was a notable success in the past administration and it already had about 10 million farmers on its records. Minister of Agriculture, Audu Ogbeh who made the announcement on Wednesday said the policy will be adjusted to suit the current situation.

2. A 3-year borrowing plan has been approved: The Buhari administration has decided to seek external help by applying for loans at the World Bank, African Development Bank, China Exim Bank and a few others. According to finance minister, Kemi Adeosun, the plan to borrow externally is in line with government’s strategy to focus on concessional debts. She added that the loans would be used to develop strategic sectors that will revive the economy. The sectors to benefit mostly are the power, health and agriculture sectors. We are not sure if this a long or short-term measure but we hope that this will alleviate the economic crisis.

3. President Buhari has personally appealed to Nigerians to exercise patience: At the inauguration of Osogbo Government High school in Osun state on Thursday, President Muhammadu Buhari urged Nigerians to persevere through the hard times. He also gave a reassurance that his change mantra is still on track and his administration is working hard to deliver on all its campaign promises. He attributed the economic situation to the drop in oil prices.

4. Blame games are being played as usual: Since the recession officially became a thing, the two major political parties in the country have been involved in a war of words. The ruling party APC has blamed the previous administration’s recklessness for the current state of the economy. They have demanded that the PDP apologizes to Nigerians for mismanaging the country and “choosing the path of economic sabotage.”

 

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

Nwankwo Kanu Launches N1 Billion Jackpot Lotto To Support Kanu Heart Foundation
Food and Health
16 views
Food and Health
16 views

Nwankwo Kanu Launches N1 Billion Jackpot Lotto To Support Kanu Heart Foundation

PH - October 17, 2017

Legendary Nigerian footballer and philanthropist, Nwankwo Kanu, is launching the biggest lotto in Africa to raise funds for the Kanu Heart Foundation (KHF) (www.KanuHeartFoundationNg.com) and help build…

6 Reasons Why Senator Abaribe Applied To Be Discharged As Nnamdi Kanu’s Surety
Politics
40 views
Politics
40 views

6 Reasons Why Senator Abaribe Applied To Be Discharged As Nnamdi Kanu’s Surety

PH - October 17, 2017

The Senator representing Abia South Senatorial District, Enyinaya Abaribe, has applied to the court to be discharged from the suretyship, bond and recognizance of the bail of…

Lagos State Records 100% Increase In Domestic And Sexual Violence Cases
Shocking
31 views
Shocking
31 views

Lagos State Records 100% Increase In Domestic And Sexual Violence Cases

PH - October 17, 2017

The Lagos State Domestic and Sexual Violence Response Team (DSVRT) yesterday has stated that 950 domestic and sexual violence cases have been reported this year alone, compared…

Where Is TSTV Nigeria 17 Days After Launch? – Biola Kazeem
Business
37 views
Business
37 views

Where Is TSTV Nigeria 17 Days After Launch? – Biola Kazeem

PH - October 17, 2017

Renowned sport analyst Biola Kazeem has taken to Twitter to express his thoughts on the inability of TSTV to commence operation 17 days after launching. He also…

Davido Finally Speaks After Alleged Murder – ‘I Forgive All Those Who Called Me A Murderer’
Entertainment
49 views
Entertainment
49 views

Davido Finally Speaks After Alleged Murder – ‘I Forgive All Those Who Called Me A Murderer’

MT - October 17, 2017

Nigerian singer Davido, who has been embroiled in some controversies recently over the death of some friends, says he ‘forgives’ all those who accused him of murder.…

Omoni Oboli’s Okafors Law Becomes the First Nigerian Movie to be Screened at Film Festival in South Korea
Entertainment
36 views
Entertainment
36 views

Omoni Oboli’s Okafors Law Becomes the First Nigerian Movie to be Screened at Film Festival in South Korea

PH - October 17, 2017

Nollywood film maker and actor, Omoni Oboli is grateful for the good news she received on her movie, ‘Okafors Law.’ Earlier this year, a court injunction stopped…

Queen Chanel of Iwoland Explains Why She Wears A Crown
Art, History and Culture
48 views
Art, History and Culture
48 views

Queen Chanel of Iwoland Explains Why She Wears A Crown

PH - October 17, 2017

Queen Chanel Chin, is the wife of Oluwo of Iwoland, Oba Abdulrasheed Akanbi. Born in Toronto, Canada, Queen Chanel’s dream of coming to Africa was fulfilled when…

Important Things Couples Should be Doing During Courtship Before Marriage (Must Read)
Lifestyle
42 views
Lifestyle
42 views

Important Things Couples Should be Doing During Courtship Before Marriage (Must Read)

MT - October 17, 2017

Getting married is one of the biggest decisions that you will ever make. You are entrusting the rest of your life into the care of another human…

Barack Obama Chooses Nigerian Artist Kehinde Wiley to Paint His Official Presidential Portrait
Art, History and Culture
33 views
Art, History and Culture
33 views

Barack Obama Chooses Nigerian Artist Kehinde Wiley to Paint His Official Presidential Portrait

PH - October 17, 2017

Former US President Barack Obama has handpicked artist Kehinde Wiley to paint his official Presidential portrait, Smithsonian’s National Portrait Gallery announced. Wiley is best known for his pieces showing African-Americans in hip-hop gears,…

Nigeria Wins Re-Election Into UN Human Rights Council
World Buzz
41 views
World Buzz
41 views

Nigeria Wins Re-Election Into UN Human Rights Council

PH - October 17, 2017

Nigeria has won a re-election into the UN Human Rights Council in Geneva for the 2018 to 2020 term at an election held on Monday at the…

FUNAAB Produces 203 First Class Graduates
Best of Nigeria
59 views
Best of Nigeria
59 views

FUNAAB Produces 203 First Class Graduates

PH - October 17, 2017

Ololade Enikuomehin, acting vice-chancellor, Federal University of Agriculture Abeokuta, said on Monday that the institution produced 203 first class graduates in the 2016/2017 academic session. The university also said…

Tagbo: 5 Things You Need To Know About Davido’s Late Friend
Entertainment
83 views
Entertainment
83 views

Tagbo: 5 Things You Need To Know About Davido’s Late Friend

MT - October 16, 2017

About two weeks ago, Nigerians woke up to the news of the death of one Tagbo Umeike, who was later introduced as a friend of Nigerian hip…

Lukaku Reveals Why He Do Not Put Pressure On Himself Scoring Against Big Teams
Sports
47 views
Sports
47 views

Lukaku Reveals Why He Do Not Put Pressure On Himself Scoring Against Big Teams

MT - October 16, 2017

Liverpool goalkeeper, Simon Mignolet was barely troubled by the Premier League’s top scorer, Romelu Lukaku on Saturday, but he is certain that important goals will come at…

Orji-Uzor Kalu Speaks About Buhari’s Govt. – ‘The President Is Marginalizing The Igbos, I’m Not Afraid To Speak The Truth’
Politics
65 views
Politics
65 views

Orji-Uzor Kalu Speaks About Buhari’s Govt. – ‘The President Is Marginalizing The Igbos, I’m Not Afraid To Speak The Truth’

MT - October 16, 2017

While speaking in an exclusive interview with The Sun Newspaper, achieftain of the All Progressives Congress (APC) and former governor of Abia State, Orji Uzor Kalu, state that…

The Transformation Of These Twins Has Got The Internet Buzzing (PHOTOS)
Inspiring
79 views
Inspiring
79 views

The Transformation Of These Twins Has Got The Internet Buzzing (PHOTOS)

MT - October 16, 2017

These twins’ transformation has everyone talking! Talking about transforming, here’s one. Wow! I guess They grew up Learned a few tricks about makeup and bleaching too.

In Photos: Wives Of Nigerian Senators Looking Glamorous As They Attend Birthday Party In Ibadan
Politics
74 views
Politics
74 views

In Photos: Wives Of Nigerian Senators Looking Glamorous As They Attend Birthday Party In Ibadan

MT - October 16, 2017

Toyin Saraki, wife of senate president led a group of women (wives of Nigerian senators) to celebrate Senator Akanbi’s wife’s 50th birthday in Ibadan, Oyo state capital.…

Best Proposal Ever: Nigerian Man Stage Molestation By Soldiers Just To Propose To Girlfriend (Watch Video)
Romance and Love
63 views
Romance and Love
63 views

Best Proposal Ever: Nigerian Man Stage Molestation By Soldiers Just To Propose To Girlfriend (Watch Video)

MT - October 16, 2017

A Nigerian man teamed up with a set of soldiers just to propose to his girlfriend. The man was seen in the video pretending to be molested…

2019 Election: Buhari Remains “Unbeatable Candidate For The APC”
Politics
50 views
Politics
50 views

2019 Election: Buhari Remains “Unbeatable Candidate For The APC”

PH - October 16, 2017

Kogi State Governor, Alh. Yahaya Bello has reiterated the determination of the people of the state and Nigerians in general to ensure President Muhammadu Buhari continues his…

Loading...