The Minister of Information and Culture, Lai Mohammed, has said with President Muhammadu Buhari piloting the affairs of Nigeria, the country is in very safe and competent hands, hence there is no cause for alarm.
The Minister said this at a mini town hall meeting with the staff of the Nigerian Embassy in Madrid, Spain, and a cross-section of Nigerians living in the European country on Saturday.
He said contrary to the fake news being peddled on the Social Media, Nigeria is making steady progress, especially in revamping the economy, tackling insecurity and fighting corruption – the three cardinal programmes of the Buhari Administration.
”Don’t believe everything you read on the Social Media. Nigeria is neither at war nor in crisis,” Mr. Mohammed said, according to a statement by his special assistant, Segun Adeyemi.
”Contrary to what you may be reading on the Internet, the Buhari Administration is putting Nigeria on a solid footing, after the years that were eaten by the locust.”
He said naysayers are spending millions of Naira to distort the true situation of things in Nigeria and to make the administration look bad.
The Minister said the administration’s achievements should be evaluated against the background of the tough challenges that it has faced since coming into office on 29 May 2015.
”It is said that if you don’t know where you are coming from, you won’t know where you are going,” he said, listing the drastic fall in the price of crude oil, the low foreign reserves at $24 billion, the fact that the federal government was borrowing to pay workers’ salaries, and the fact that many states were unable to pay salaries as some of those challenges.
Mr. Mohammed also said when the Administration came into office, unpaid pensions had run into billions of Naira in many states, contractors had abandoned sites across the country because they were being heavily owed, infrastructure was in poor state, power generation was 2,690 megawatts, billions were being paid as ‘fuel subsidies’ to fat cats, corruption was the order of the day, while 20 of the 27 local governments in Borno were under the firm control of Boko Haram.
”Today, the trend is being reversed, and the results are showing: Foreign reserves is now $42.8b, the highest level in four years, inflation has fallen for 12 consecutive months to 15.13%, 108 billion Naira has been saved from removal of maintenance fees payable to banks before Treasury Single Account (TSA), the nation is being saved 24.7 billion Naira monthly with the full implementation of the TSA and the elimination of ghost workers has saved the nation 120 billion Naira.
”With improved macro-economic conditions, capital inflow is on the upswing, reaching $1.8 billion in the second quarter of 2017, which is almost double the $908 million in the first quarter, Nigeria’s stock market is one of the best-performing in the world, delivering returns in excess of 40 percent, Nigeria jumped 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,” he said.