The positive numbers coming out of the Real Quarterly GDP Growth Report for Quarter4 by the National Bureau of Statistics is a confirmation that the economic policies of President Muhammad Buhari are working, the South West Youths for Buhari (SYB) has said.
In a statement in Lagos on Wednesday by its Publicity Secretary, Comrade Foluso Ojo, the group said with those numbers Nigeria was surefooted for economic boom under President Buhari.
The NBS in its latest report indicated that the GDP expanded by 2.38% in quarter 4, 2018 from 1.81 recorded in quarter 3, 2018 – the fastest since 2014.
According to Ojo, “One thing that is noteworthy about this report is that despite the fact that there was significant contraction in the oil sector, the overall economy recorded sizeable growth largely due to the economic diversification policy of the Buhari government.
“We congratulate Nigerians, President Buhari and his team on this feat because we are more than ever confident that the President is on the right track in leading our nation to another period of economic prosperity.”
The SYB further explained that the policies of the Buhari administration towards revamping the manufacturing sector and reducing the nation’s dependence on importation is already bearing fruits.
Ojo added: “What the NBS figures also show is that “Nigeria’s total capital importation dropped to $2.14 billion in the fourth quarter of 2018 (Q4, 2018) compared to $2.85 billion in the preceding quarter .
“This represents a decrease of 25.05 per cent quarter on quarter and 60.24 per cent decrease when compared to estimates in Q4 2017.
“To us, these figures are heartwarming and represent one more reason why Nigerians should vote President Buhari to consolidate on these economic group.”
The group warned that Nigeria currently needs to stabilize its economy and “not another round of experiment with people who think they can plagiarize policies from China without full understanding of Nigeria’s peculiar context. Indeed, China, like every other serious government, has been so committed to anti-corruption in order to grow such that it executes thieves. We look forward to the day Nigeria will follow suit.”
The group further called on citizens to vote wisely by rewarding Buhari for growing the economy in Quarter 4 as attested to by the latest NBS Report.
NBS report confirms Buhari economic policies are working, says SW Group
