President Muhammadu Buhari has said that Nigeria’s economy has been revamped since his administration took over in 2015.

President Buhari while rolling out the success of his administration on Tuesday during the democracy broadcast explained that in 2016, the government executed an expansionary budget and developed the Strategic Implementation Plan (SIP) which for the first time, 30% of the budget was earmarked for capital expenditure to represents an upward review when compared with the 2015 budget.

After the execution of the Strategic Implementation Plan, the Federal Government decided to go a step further by establishing comprehensive medium-term plan called the Economic Recovery and Growth Plan (ERGP) 2017-2020.

The aim of the ERGP is to restore and sustain economic growth, build a globally competitive economy and invest in Nigerians.

However, the President noted that the establishment of the ERGP has started yielding results, following the National Bureau of Statistics reports which shows that the economy grew by 1.95% in 1st quarter 2018, which is a good performance when viewed against -0.91 in 1st quarter 2017 and -0.67% in 1st quarter 2016 respectively.

The President further stated that “Our foreign reserve has improved significantly to 47.5 billion USD as of May 2018 as against 29.6 billion USD in 2015.
“The inflationary rate has consistently declined every month since January 2017”.

He, therefore, called on Nigerians to work with the Federal Government to ensure that its plans are achieved.