Vice President Yemi Osinbajo has declared that the President
Muhammadu Buhari-led administration is making specific efforts to enable
the
private sector thrive by undertaking extensive ‘ease of doing
business’ reforms in addition to on-going investment in infrastructure.
Osinbajo, who stated this yesterday at the Financial Times Africa
Summit holding at the Claridge’s Mayfair Hotel in London, said that the
government in the past months had been working assiduously to improve
macro-economic conditions.
The Vice President told the global audience made up of international
business leaders, investors, public sector officials, media gurus and
intellectuals that ‘the outlook going forward is quite positive based on
improvements in oil prices and production and the trend of leading
indicators such as positive purchasing managers indices, a revived stock
exchange and increasing foreign exchange reserves.
He said: “Practical examples of success include leveraging the use of
technology to fast-track business registration and payment of taxes, a
functioning, tried and tested 48-hour electronic visa procedure and an
Executive Order mandating greater transparency and efficiency across all
government agencies.
The reforms have led to reduction in cost and time, as well as greater
transparency for small and medium sized enterprises in particular.”
He added that the Buhari administration is “nevertheless determined
and optimistic that Nigeria will, along with the rest of the continent,
bring about an Africa that works for all its people and contributes to
global growth and prosperity.”
In a related development, the Minister of Finance, Mrs. Kemi Adeosun,
has said that the President Muhammadu Buhari will not saddle Nigerians
with unserviceable debts.
According to a statement yesterday by her Special Assistant on Media,
Mr. Olayinka Akintunde, Adeosun in an article entitled, “The debt
debate: Deconstructing the debt story,” stated that the President has
resolved to ensure that the debts continue to remain sustainable.
The minister stated that anyone, who thought the economy the
administration inherited in 2015 was in need of minor adjustment, was
deluded.
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