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PDP hails Jonathan's economic reforms

21 October 2013, 15:36

Lagos - The People’s Democratic Party (PDP) lauded President Goodluck Jonathan for spearheading the Transformation Agenda, which the organisation said had helped achieve milestones in the critical sectors of the economy.

The ruling party, in a statement released by its National Publicity Secretary, Olisa Metuh, noted that the President has dynamically pursued such economic reforms and expressed hope they would enhance the country’s economic prospects.

“We are indeed highly impressed that the reforms initiated by the President has started yielding very high dividends resulting in a massive leap in the nation’s economy which has also been acknowledged by the world community; the latest being the Fitch Ratings which affirmed Nigeria's long-term foreign and local currency industrial and domestic risks (IDRs) as well as senior unsecured bond and Short-term foreign currency IDR ratings respectively at 'BB,” stated Metuh.

Metuh listed some of the factors that led to the positive rating to include massive developments in the power, agriculture and road sectors as well as reforms in finance, commerce and industry.

He noted that it was “heart-warming” that at a time other economies of the world were experiencing a downward trend, Nigeria’s economy on the other hand was experiencing stability and growth.

His party also commended the President for initiating the New Automobile Industrial Policy Development, which is focused on promoting investments in affordable locally-made vehicles.

“We are happy that the New Automobile Industry Policy is already yielding results. Direct foreign investments are already flowing in from leading vehicle manufacturers including Nissan and Stallion Group which have entered into an agreement with the Federal Government to establish auto plants in Nigeria.

This policy which also promotes the manufacturing of spare parts of vehicles used in the country will not only generate massive employment for our people but will guarantee technology transfer, reduction in cost of vehicles, increase in ancillary investment opportunities and a boost in medium and small scale enterprises. This, no doubt will contribute in transforming our country into a manufacturing hub in Africa.”

PDP said in the power sector, Jonathan had shown resilience in ensuring the achievement of production targets.

“We note that acceleration of works that led to the commissioning of the Geregu Power Project in Kogi state on October 4, 2013 as well as the Omotosho 2 Power Station in Ondo state which was commissioned last Saturday.

The party also notes the acceleration of works in other power plants including Calabar, 630MW; Egbema, 378MW; Ihorvbor, 504MW; Gbarain 252MW; Sapele 504MW; Omoku 252MW; Alaoji 1076MW and Olorunsogo 750MW,” Metuh stated.

He concluded, “We commend President Goodluck Jonathan for not allowing himself to be distracted from his avowed commitment towards the development of the nation and the welfare of Nigerians. He has remained resolute in meticulously and calmly driving his Transformation Agenda and for this we are highly impressed.

The nation is on a sure path to economic prosperity the party urged all Nigerians to keep faith alive and continue to support the reforms initiated by the PDP-led administration so as to consolidate on the gains so far achieved.”

 – CAJ News


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