The Federal Government of Nigeria says it has implemented some strategic reforms to ensure economic recovery in the country.
The Speaker of the House of Representatives, Mr Abbas Tajudeen, disclosed this on Saturday during the opening ceremony of the 45th Kaduna International Trade Fair in Kaduna.
The fair has the theme, “Sustainable Economic Recovery Through Deepening of Local Content Value Chain”.
The speaker, represented by Rep. James Barka (PDP-Adamawa) said recently, the Federal Government, major stakeholders and the National Assembly were determined to restore macro and micro economic recovery in the country.
He said, “This year’s edition of the fair came at the right time efforts are being channeled towards achieving sustainable economic recovery in the country.
“There have been creative steps in policy reforms across all the sectors, with an intended focus on repositioning our nation as truly the economic giant of Africa producing significant achievement in fiscal and monitory consolidation.
“It is also expected that the resultant effects of these steps will lead to a reduction of the menace of insecurity affecting our economic growth, strengthening our public service institutions and improving the overall business environment for increased productivity.
“We are beginning to see dividends of new policies of this administration with a boost in investment growth across major segments of the economy, attracting new foreign investors and returning the country to a sustainable and inclusive road path.
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“The road might appear rough, but I am happy, we are making significant progress.”
Abbas said there is a specific improvement in the Nigeria non-oil sector in the last Bureau of Nigeria Statistics report, adding, “The quarter for 2023 GDP report shows an improvement of 3.46 per cent growth from the previous growth of 2.54 percent.
The speaker said, “We are surely not where we are expected to be at the moment but the good news is that we are not where we were yesterday. We are surely making progress.
“The theme of this year’s fair reminds us of the fact that Nigeria’s problem can only be resolved by Nigerians.
“We must all be ready to collaborate and support the federal government’s efforts in energizing the economy through the creation of an investment-friendly environment.
“Our dear country Nigeria is blessed as a nation with abundant human and natural resources and the right policies for economic growth.
“With the economic willpower to implement the policies available, Nigeria can become one of the global economic powers.”
Abbas urged all the stakeholders to support the drive of the present administration to bring an economy that can bring prosperity to all Nigerians.
He added, “The 10th National Assembly is determined to ensure that business owners and investors in Nigeria’s economic space are specifically provided with a more conducive environment to succeed.
“They will succeed profitably with marginal returns on investments and their capital well protected with various business incentives currently under implementation by this current administration.
“It is time to roll up our sleeves and work for the common good of our people, for history beckons on all of us to do so.
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“We will ensure that entrepreneurs in Nigeria receive all the necessary support needed in commitment to make significant contributions in creating a new Nigeria.
“This is to have the growth of digitalized economy, sustainable employment for our teeming youth, and making our country gain a frontline position as the bedrock for economic growth and development in Africa.”
According to Abbas, the National Assembly wants the whole world to know that Nigeria is now open for business, adding, “We are ready to regain our position as the economic giant of Africa.”
Gov. Uba Sani of Kaduna State, while declaring the trade fair opened said the occasion was a celebration of the entrepreneurial spirit and economic vitality that defined the state.
The governor, who was represented by Permanent Secretary of the Ministry of Business, Innovation and Technology, Mr Yusuf Seleh, said that the state government will soon support 4,000 small and medium enterprises in the state with about N4 billion.
Sani said, “This is to enhance the lifeblood of our economy and we must provide them with the necessary tools and resources to flourish.
“Through this programme, we will offer financial assistance, training and mentorship to empower these businesses to grow and create job opportunities for our people.
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“Also, the Kaduna State Government has signed into law, the State Security Trust Fund.
“This is a very important step in enhancing the safety and security of our citizens and businesses.
“This fund will enable us to engage in cutting-edge security measures and technologies to ensure the protection of all residents and visitors in our dear state.’
Sani said that he had also signed the financial inclusion agreement, underscoring the state government’s commitment to improve access to affordable financial services regardless of income level or location.
He said, “By promoting financial inclusion, we are encouraging our people to save, invest and secure their financial future.”
NAN
