Monday, May 29, 2017 11:55 pm
The Minister of Labour and Employment, Dr Chris Ngige has urged Nigerians to be patient and have hope in the administration of President Muhammadu Buhari.
Ngige, who made the call in an interview with newsmen in Awka on Monday, assured that the Federal Government was committed to the development and welfare of the people.
“I feel fulfilled even though the expectations of Nigerians have not been met.
“I feel that President Buhari has scored a pass mark within the resources available; special circumstances of terrorism; militancy in Niger Delta; global oil price slash; and low oil output,” Ngige said.
He said the Federal Government had within the two years annihilated Boko Haram, reduced corruption, managed the economy and ensured the welfare of citizens as guaranteed in Section 14 of the Constitution.
According to him, people are complaining because there is no free flow of money anymore, no leakages for corrupt people to take money and go and spend.
“People are complaining that the price of food has gone up. Yes, these things you should expect when you do what is called a shock therapy on any economy or system of government,” he said.
“Nigeria was producing 2.2 million barrel a day as per OPEC quota but for most part of 2016, at least for three quarters of 2016, we were producing 1.2 million barrels and the prices fell from 100 Dollars per barrel to 35 Dollars per barrel.
“Unfortunately, recession had to creep in because it is one of the fallouts of a very badly managed economy that is dependent and based on only oil,” the minister added.
The minister said the Federal Government’s effort to combat recession was yielding results in the area of agriculture and mining among others.
“I am happy to tell you that with the statistics we have got now, Nigeria’s economy is no longer contracting.
“It is growing and by the predictions of economists, members of the economic team and CBN as well as that of the World Bank, Nigeria will come out of recession by the third quarter,” Ngige said.