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Monday 19 May 2014

See How GEJ Has Transformed The Nigerian Economy


Rather than base their arguments on facts,the All Progressive Congress always prefers to abuse the President and the Federal Government while constantly trying so hard to discredit his credibility among Nigerians by using baseless propaganda.John Adams once said"Facts are stubborn things,and whatever may be our wishes,our inclinations,or the dictates of our passion,they cannot alter the state of facts and evidence".


Here are some facts on how President Goodluck Jonathan has transformed the Nigerian economy:

  • At 7% GDP growth, Nigeria's economy is one of the fastest growing in the world.
  • As a matter of fact,the Nigerian Economy is now ranked number one in Africa.
  • The UN Conference on Trade and Development has for the second year running named Nigeria as the number one destination for investments in Africa,attracting over $7billion dollars in Foreign Direct Investment(FDI).
  • In 2013,1.6 million jobs were created directly and indirectly as a result of Federal Government's initiatives.
  • Exchange rate has stabilized between N155 and N160 in the last three years.
  • Inflation Rate now 8%(December 2013),down from 12.4% in 2011.It is projected to be at single digit for another year.
  • External Reserves have reached $42.9 billion,one of Nigeria's highest ever.
  • The Sovereign Wealth Fund has been established with three components:Stability Fund,Infrastructure Fund and Future Generation Fund.This will help protect the economy against future shocks and provide for future generations and Nigerians.
  • Nigeria's $1billion Euro Bond has been oversubscribed-a sign of confidence in the country's economy.
  • Nigeria's budget deficit of 1.85% to GDP is one of the lowest in the world.
  • Recurrent expenditure,a major budgetary headache for decades,is now on the downward trend.
  • The introduction of the Government Integrated Financial Management and Information system(GIFMIS)has improved the acquisition,allocation,utilisation and conservation of public financial resources,using automated and integrated,effective,efficient and economic information systems.

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