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parkisgold-zz

New Administration Set to Boost GDP, Reveals Priority Focus

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  • To Boost GDP by 6%
  • Unify Exchange rate
  • Cut down Interest Rate

CEM REPORT, GOVERNANCE | President Bola Ahmed Tinubu has revealed the priority focus of his administration in his first tenor in office.

To encourage more private sector investment, he revealed that his administration will review all complaints on multiple taxations.

This is as he said his administration will focus on boosting the nation’s GPD to not less than a six per cent growth.

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He stated this during his inaugural speech at the swearing-in ceremony at the Eagles Square in Abuja.

During his inaugural speech on May 29th, 2023, Tinubu stated that his priority will be to make goods and services affordable to every Nigerian, thereby increasing the nation’s GDP.

He stated that the CBN must find a way to unify the exchange rate away from the multiple exchange rate regime.

On monetary policy, he said that the benchmark interest rate was too high for individuals and businesses which he noted was not suitable to grow the economy and GDP.

On how his administration will further boost the GPD to hit its growth mark he added that his government will ensure electricity is affordable for individual homes and businesses to boost production.

Like his predecessor, Tinubu noted that his administration will focus more on building local manufacturing power. This he noted will reduce dependence on imported products.
He stressed that farmers will be given priority to ensure that food is affordable and available to every Nigerian.

Furthermore, he stated that his administration will expand on the past administration’s infrastructural achievement.

On job creation, he said his administration will work with the National Assembly to fashion an omnibus Jobs and Prosperity bill.

He explained that the bill would give our administration the policy space to embark on labour-intensive infrastructural improvements and provide improved social services for the poor, elderly and vulnerable amongst others

He called on all Nigerians to be unified for stability and development.

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