FG fires back at Obasanjo

Hours after former President Olusegun Obasanjo
penned an open letter to President Muhammadu Buhari not to seek
re-election in 2019, the Federal Government has formally replied him.

Minister of Information, Alhaji Lai Mohammed, who read a prepared
statement to State House Correspondents, at the end of the Federal
Executive Council meeting presided over by Buhari, yesterday, said
Obasanjo must have been too busy to notice the administration’s efforts
at improving an economy that had been battered by over-reliance on oil
and unprecedented pillaging of the treasury.

Mohammed commended Obasanjo for giving thumbs-up to the administration’s
efforts at fighting corruption and tackling the Boko Haram insurgency.

He also disclosed that the administration has taken the former
president’s admonition in good faith, with the belief that he has no
other motive beyond the well-being of the country in issuing “such a
long statement.”

“We have no doubt that, in the face of massive challenges in this area,
this administration has availed itself creditably. We believe that Chief
Obasanjo, because of his very busy schedule, may not have been fully
availed of developments in the government’s efforts to revamp the
economy, which was battered by the consequences of over-dependence on a
commodity as well as unprecedented pillaging of the treasury.

“Today, most of the indices by which an economy is measured are looking
up. Permit me to say, however, that Nigeria would not have exited
recession through a mere order or if the administration had not made use
of ‘good Nigerians’ who could help.”

Mohammed said Buhari’s administration is appreciative of Obasanjo’s
letter and that it is making steady progress to revamp the economy and
the results are already showing.

“Foreign reserves have peaked at $40 billion, the highest level in about
four years and up from $24 billion just a year ago, even though when we
came in, the price of oil had crashed woefully…. “Our determined
implementation of the Treasury Single Account (TSA) has stopped the
haemorrhaging of the treasury. Some N108 billion has been saved from
removal of maintenance fees payable to banks, pre-TSA. The nation is
being saved N24.7 billion, monthly with the full implementation of the
TSA.The elimination of ghost workers has saved the nation N120 billion.
At about $1.8 billion, the capital inflows in the second quarter of 2017
were almost double the $908 million in the first quarter…he said.

Mohammed continues: “Nigeria rose 24 places on the World Bank’s Ease of
Doing Business ranking and earned a place on the List of Top 10
Reformers in the world.

“According to Q3 2017 figures, agriculture export is up year-on-year by
25 precent, solid minerals exports are up year-on-year by 78precent, raw
materials exports are up 70 precent year-on-year and manufactured goods
exports are up 22 precent year-on-year.

“Government agencies, such as the Nigeria Customs Service are reporting
highest-ever revenue collection, while JAMB, under the new management
appointed by president Buhari, in 2016, remitted N7.8 billion to the
coffers of the federal government.

“These positive indices may not have immediately impacted positively on
Nigerians but Nigerians will definitely get a new lease on life a short
while from now.

“When we assumed office in 2015, some six million farmers were involved
in rice production. Thanks to the Anchor Borrowers’ Programme of this
administration, we have grown that number to over 12 million farmers.
The result is that our rice import from Thailand alone has dropped from
644 metric tonnes to 22,000 MT in just two years. This is phenomenal.

“Apart from rice, Nigeria is also doing well in other grains, especially
millet, sorghum and maize. We are now the second largest producer of
sorghum after the United States of America, the third in millet after
India, and our breweries are now enjoying local sourcing of those
commodities.

“For maize, we are producing 10 million tonnes while we need about 13
million tonnes for both human and animal nutrition. Nigeria leads the
world in yam and cassava production. We account for 70 precent of the
world’s yam production. In two years, we hope to be the world’s largest
exporter of yam! Overall, our ambition is that agriculture should rise
from 25 percent to 40 percent of GDP so that we can banish poverty and
overcome our economic anxiety.

“Currently, 5.2 million primary school children in 28,249 schools in 19
states are being fed daily; 200,000 unemployed graduates have enlisted
into the N-power Job Scheme, and a quarter of a million loans already
distributed to artisans, traders, and farmers.

“Finally, our investment in infrastructure is simply unprecedented. This
is because infrastructure is key to faster economic growth and
development.

“Here is a synopsis of what we have done in this area: Power Generation
at an all-time high of 7,000mw and all can be transmitted; rail:
Lagos-Kano Standard Gauge is on. Lagos-Ibadan sector ready (2019),
Kano-Kaduna ready (2019), the entire stretch ready (2021). Negotiations
on for Coastal Rail covering 15 cities from Lagos to Calabar.

“Road: 25 major highways being funded with the N100 billio Sukuk Bond,
and all geo-political zones are benefitting equally. This Administration
is not unaware of the enormity of the challenges facing the nation,
but, we are up to the task. We have taken the bull by the horns and
long-suffering Nigerians will begin to experience a new lease on life as
our efforts yield fruits. We will not go into a state of funk for
whatever reason.

“I will urge Nigerians to have faith in the administration’s ability to
resolve the crisis, and to watch out for concrete measures in this
regard.

“On whether or not president Buhari should run for another term, it is
true that many Nigerians have been calling on the president to run,
again, while others are opposed to his return.

“This is because Mr. President…is committed to fulfilling the mandate
given to him by Nigerians in 2015. And that’s where we are right now!”