Nigerians will soon get a new lease of life – Lai Mohammed

The Federal Government has said the administration is winning the battle to revive the Nigerian economy.

Minister of Information and Culture, Alhaji Lai Mohammed, said this in Lagos during a press conference titled, ‘The Muhammadu Buhari administration is putting the economy on a winning path.’

According to the minister, Nigerians will soon have a new lease of life, where businesses will thrive and more jobs will be created.

He said, “We are winning the battle to revive the economy. We are fighting corruption like never before. We are tackling insecurity with renewed vigour. The bottom line is that as things continue to improve, Nigerians will begin to feel the impact in their daily lives. With the ongoing massive infrastructural development, especially in roads, railways and power, Nigerians will begin to get a new lease of life; food prices will tumble, businesses will thrive and more jobs will be created.

 “While the naysayers, who are obviously in the minority, persist in their pastime of acting as distraction, discerning and well-meaning Nigerians will continue to appreciate and encourage the good work of our administration.”
He added that the administration had improved the country’s tax to Gross Domestic Product ratio through the Nigerian Voluntary Asset and Income Declaration Scheme.
“In exchange for fully and honestly declaring previously undisclosed assets and income, taxpayers will benefit from forgiveness of overdue interest and penalties, and the assurance of not facing criminal prosecution for tax offences or tax investigations. As of October 31, 2017, VAIDS has raked in over N200m and $55m.

“Then, of course, there are the usual indices: for eight consecutive months, headline inflation has been falling, the foreign exchange reserves are up to $34bn, from $24bn a year ago; oil production is at nearly two million barrels per day, a significant improvement from 2016 when it was mostly below a million; the value of the naira in the parallel market has appreciated significantly in recent times against the US dollar, and at about $1.8bn, the capital inflows in the second quarter of 2017 were almost double the $908m in the first quarter,” he said.

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