Vice President Yemi Osinbajo’s Spokesman, Laolu Akande, has on Sunday, said that the economy is quickly rebounding, due to the preemptive actions taken by the President Muhammadu Buhari administration,
He said this on Channels Television’s ‘Sunday Politics’.
His words: “So, very clearly, we can see that the economy is rebounding, and this is mainly because of the preemptive actions the Buhari administration had taken even before now, to ensure the situation does not get worse.”
While explaining that the present administration has launched various Schemes to help Nigerians mitigate the effects of the pandemic, Akande said that the impact of such Schemes is being felt across the country.
He added: “There are all kinds of testimonies, I can share with you. We receive reports every day from beneficiaries of the Survival Funds.
“Whether they are artisans. We are talking about tailors, barbers, plumbers, hairdressers, technicians all over the place, or even people who work in private schools or private transport companies, who have been receiving our support.”
He argued that the borrowings by the President Buhari government, are used to fund infrastructure and reposition the economy, just as he stressed that loose ends are also being tightened.
“We are borrowing for capital”, he stated, explaining that, “we are not borrowing for recurrent expenditure. We are borrowing to keep the economy going, we are borrowing to build trains, we are borrowing to build roads, we are borrowing to fix our critical infrastructure.”
He noted that in spite of the limited resources available to the present government, Nigerians can attest to the prudency of the current administration.
He added: “I think, by and large, Nigerians have seen that the Buhari administration has been very clear in how we have managed to do much more, even though much less, compared to the past, is coming in.
“This is a critical feature of the administration, that shows that we are very prudent with public finances.”