Despite the slow pace of development in the country, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, says the Buhari administration is working round the clock to bring Nigeria back on track.
Fashola, who spoke in Lagos during an interactive session with social clubs, urged Nigerians not to give up on renewed efforts to salvage the country, adding that the long term objective of government was to ensure competitiveness in the economy.
“If there is one set of people that I believe should still have hope in the country is the generation after us. There is nothing wrong with Nigeria. All that we need to do is to retrace our step from where we have gone wrong and begin to do things right”, the Minister said.
He however described the claim that the present administration plunged Nigeria’s economy into recession as unfair and explained that recession is a global issue with some local consequences.
He pointed out the decision of the immediate past administration to finance Nigeria’s currency with its reserve did more harm than good to the economy as it caused the reserve to dwindle and further threw the economy into serious crisis.
Fashola hinted that Dangote Group had sunk over $20 billion in its investments and infrastructural renewal in the Lekki-Epe axis of Lagos, adding that he also believes that if the Dangote refinery which comprises of petrochemical and fertilizers later comes up, the country’s demand for foreign exchange would drop.