President Muhammadu Buhari’s prudence and intensed fight against corruption was responsible for Nigeria’s exit from recession, Hon. Bamidele Faparusi, a member of the seventh House of Representatives, declared on Wednesday.
Faparusi, an All Progressives Congress(APC) governorship aspirant in Ekiti state said the series of bailouts and paris club refunds being dished out to the states by the federal government to energise the economy and other economic policies brought about the economic breakthrough .
A report published on Tuesday by the National Bureau of Statistics (NBS) revealed that Nigeria recorded a 0.55 per cent GDP growth in the second quarter of 2017, after consecutive negative values in the past quarters.
Saluting President Buhari and the Minister of Finance, Mrs Kemi Adeosun as well as her counterpart in the Ministry of Budget and Economic Planning, Senator Udoma Udo Udoma for formulating the right economic policies Faparusi said the financial help to the state which could not pay salaries helped in fortifying the Gross Domestic Products (GDP) of the 36 states of the federation.
The former federal lawmaker said President Buhari’s government took off on May 29, 2015 when Nigeria was deeply submerged in economic recession under the former President Goodluck Jonathan, saying this really slowed down the APC’s policies in no small measures.
“President Buhari took off on a rough and bumpy note , because of the corruption perpetrated under the PDP-led government of Dr Jonathan. This slowed down the FG’s policies and cause distraught to Nigerians.
“The startling revelations from Economic and Financial Crimes Commission(EFCC) of how the country’s economy was allegedly looted by government officials under the immediate past government confirmed that Nigeria couldn’t have been buoyant when Buhari took over .
“But the well-patterned financial recovery policies by EFCC and the energizing of the economy through series of bailouts and paris club refunds as well as the Treasury Single Account(TSA) helped the present government to overcome that dastard situation.
“This lofty achievement vividly confirmed the resolve of President Buhari to put smiles on the faces of Nigerians by reinvigorating the economy through the blockage of wastage in the system for Nigeria to
become economically viable nation in line with the dream of the country’s founding heroes”, he said.
Faparusi praised president Buhari over his comment that his government will only celebrate the economic feat when Nigerians start feeling the dividends of the economic breakthrough.
The APC leader said though President Buhari is operating from the presidential Villa in Abuja, but not removed from the grassroots people on whose economy of any nation should centre upon “unlike what
was obtainable under the last regime when only the elites were being considered in economic policies”.