Welcome, Guest: Join Nigeria Student Forum / Login / Trending Now / Recent Topics / Jamb News / Campus Gists / Nurses Arena

Stats: 18,312 Members, 74,311 Topics, 16,040 Comments. Date: Nov 16 2019, 12:48 am

President Buhari Reveals What Happened To Nigeria’s Economy For Nine Consecutive Quarters(photo

Nigeria Student Forum / General Discussion / Business Discussion / President Buhari Reveals What Happened To Nigeria’s Economy For Nine Consecutive Quarters(photo

(Go Down)
Emmanuel Fikayo

Profession
300Level, Nigeria.
President Muhammadu Buhari has revealed how Nigeria’s gross domestic product improved and experienced growth over the past nine consecutive quarters.

Speaking during the presentation of the 2020 budget at the National Assembly
on Tuesday, President Buhari said the continuous recovery reflects the economy’s resilience which shows his government’s economic policies is working thus far.

He also stated that his administration succeeded in significantly reducing inflation from a peak of 18.72 percent in January 2017, to 11.02 percent by August 2019. Adding that this was achieved through effective fiscal and monetary policy coordination, exchange rate stability and sensible management of our foreign exchange.

President Buhari further said that his government has sustained accumulation to its external reserves, which have risen from US$23 billion in October 2016 to about US$42.5 billion by August 2019.

Mr Buhari noted that the increase is largely due to favourable prices of crude oil in the international market, minimal disruption of crude oil production given the stable security situation in the Niger Delta region and the nation’s import substitution drive, especially in key commodities.

He stressed that the foreign exchange market has also remained stable due to the effective implementation of the Central Bank’s interventions to restore liquidity, improve access and discourage currency speculation.
Adding that special windows were created that enabled small businesses, investors and importers in priority economic sectors to have timely access to foreign exchange.


source:-naija news.com
President Buhari Reveals What Happened To Nigeria’s Economy For Nine Consecutive Quarters(photo - Business Discussion

0 Like

Fikayo

Don't have an account? Use the form below to signup for a Nigeria Student Forum Account




E.g Seuncoded





I agree to the terms of service

Viewing this topic:
1 guest viewing this topic
Download the Ngstudentforum app for Android Devices

Disclaimer: Every Nigeria Student Forum member is solely responsible for anything that he/she posts or uploads on Nigeria Student Forum.
- Copyright © 2016 - 2019. All rights reserved.