The Buhari Media Organisation (BMO) has congratulated Nigerians for the consolidation of President Muhammadu Buhari’s policy direction geared towards a diversified production-based economy.
In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, BMO noted that the country, despite a history of economic and political mismanagement, has seen a resurgence since the administration of President Buhari’s monetary and fiscal prudence.
“The reduction in import of rice by 90% is reflective of the outcome of the CBN Anchor Borrower’s program that is currently creating a new class of multi-millionaires that are creating many jobs.
“Nigeria is finally toeing a path taken by developed countries by ensuring food security through Agricultural revolution, many of the policies adopted to increasing productivity has seen over 300 milling plants springing up across the country with a plan for 500 more of such plants before the end of this year.”
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“The direction towards a diversified economy is further underscored with the recent policy to reduce interest rate to 6% for the purchase of Nigerian made cars. In addition, the Monetary Policy Committee’s decision to reduce the Monetary Policy Rate by 50,000 basis point from 14% to 13.5%, will ease the liquidity of money for commercial banks to grant loans to business owners at lower interest rate, creating the enabling environment for businesses to thrive.”
“The recent policy statement by the Federal Government that plans to set up cashew processing plants in Enugu, Benue, Kogi, and Oyo are ongoing is highly welcome as this will add value to cashew nuts and other agricultural products as well as create employment and wealth in the country.
The pro-Buhari group thanked the Buhari administration for catalyzing the path to a robust, diversified economy and they ask the public to support his administration in the midst of solving the myriads of challenges thrown up by these developmental strides.
