Past Govts Abandoned Job Creating Sector, Says Buhari

President Muhammadu Buhari on Thursday called on state governors to show evidence of improved financial transparency and accountability in the way they govern and manage their states resources , while also calling on them to make optimum use of the resources at their disposal .

The President made the call in a keynote address read on his behalf by the Secretary to the Government of the Federation, Boss Mustapha , at the 18 th National Productivity Day and Conferment of National Productivity Order of Merit award on some notable individuals and companies in Abuja .

Buhari said that past governments ignored the non -oil sector that had the potential to create millions of jobs for Nigerians , noting that his administration had explored the sector with thousands of jobs already created for Nigerians .

He said, “ At the heart of inequality and insecurity is pervasive corruption . I urge all Nigerians to collectively resolve to fight and expose corruption and the corrupt . This is how we can foster a broad -based prosperity required to create a country that is not only for a few privileged , but caters for all Nigerians .
“ In the same vein , I urge our state governments to intensity their own efforts to instil improved fiscal transparency and accountability as well as promote fiscal efficiency and optimum use of our very scarce resources .”

Speaking on the effort to create jobs and improve on the nation ’ s economy since the end of economic recession , the President said his administration ’s economic strategy was designed to ensure diversification from the oil sector . He said huge success had since been recorded through a new economic strategy .

He said, “ This administration inherited a skewed economy where the oil sector contributed 90 per cent foreign exchange earnings over the years. Past periods of relatively high economic growth were driven by our reliance on oil sector revenues . Regrettably , previous administrations abandoned the residual investment-driven non-oil sector , which constituted 40 per cent of Gross Domestic Product that provide millions of jobs for able -bodied Nigerians .

“ To address this imbalance , our commitment to achieving economic diversification has been at the heart of our economic strategies under the Economic Recovery and Growth Plan . This medium -term development plan charted the trajectory for our economy to exit from recession and return to the path of sustainable , diversified and inclusive growth for Nigerians . “ As a result of these reforms, the economy has recovered and we have had nine successive quarters of growth since our exit from recession. ”

“ We have made outstanding progress in almost all segments of the agriculture value chain. Consequently ,
tens of thousands of jobs in agriculture , logistics, manufacturing and real sectors are being created . We shall sustain these policies to ensure additional investments are channelled , thereby creating more jobs in the sector .”

The President told the awardees that his administration had made massive investments in power , rail and road in order to aid rapid economic growth and development, noting that the ease of doing business policies and programmes initiated by the administration were already aiding manufacturing , mining and agricultural sectors with international recognition for economic growth. He also congratulated the awardees , charging them to do more for the nation .

He said , “ We are now ranked 131 on the World Bank ’s 2020 Doing Business Index by moving up 15 places from the 2018 position of 146 . The nation has also been recognised as one of the most improved economies in the world for running a business . Our country has steadily returned to the path of growth .

He added that since the inception of the award in 1991 , a total of 333 individuals and 84 organisations had benefited and that the 2019 awardees had proved themselves worthy of the award .

Among the awardees are the owner of Dangote Group, Aliko Dangote ; chairman of Honeywell Group , Oba Otudeko ; prominent Nigerian economist, Tony Elumelu; chairman of the Editorial Board , The Nation newspapers, Sam Omatseye ; and former President of the Trade Union Congress, Bobboi Kaigama .

PUNCH .

Related posts

Leave a Comment