Every 12th of June, which is Democracy Day in Nigeria, the President, and Commander in Chief of the Armed Forces, the Federal Republic Of Nigeria addresses the nation to commemorate the day, today the president outlines some major achievements during the past two years of his second term in office.
Here are the Achievements Below:
1- In the Agricultural sector, for instance, the Anchor Borrowers Programme resulted in sharp decline in the nation’s major food import bill from $2.23billion in 2014 to US$0.59billion by the end of 2018.
2– Rice import bill alone dropped from $1 billion to $18.5 million annually. This initiative supported the local production of rice, maize, cotton, and cassava. The government financed 2.5 million small-holder farmers cultivating about 3.2 million hectares of farmland all over the country and created 10 million direct and indirect jobs.
3- Several other initiatives, namely Agribusiness/Small and Medium Enterprise Investment Scheme, the Non-oil Export stimulation Facility, the Targeted Credit Facilities operated across the 774 Local Governments.
4- In the manufacturing sector the CBN – BOI N200 billion facility financed the establishment and operations of 60 new industrial hubs across the country, creating an estimated 890,000 direct and indirect jobs.
5- The CBN’s N50 billion Textile Sector intervention Facility increased capacity utilization of ginneries from 30% to nearly 90%.
6-The Economic Sustainability Plan – our rebound plan for the COVID-19 pandemic developed in 2020 is currently being executed. The plan is primarily focused on the non-oil sector, which has recorded phenomenal growth contributing over 90% to the GDP growth in Q1 2021.
7- Though marginal we have recorded GDP growth over two quarters; Q2 2020 and Q1 2021. This is evidence of successful execution of the ESP by the Federal Government.
8- Our conditional cash transfer program has benefited over 1.6 million poor and vulnerable households comprising more than 8 million individuals. This provides a monthly stipend of N10,000 per household.
9-As of the end of 2020, the Development Bank of Nigeria had disbursed 324 billion Naira in loans to more than 136,000 MSMEs, through 40 participating Financial Institutions. I am to note that 57% of these beneficiaries are women while 27% are youth.
10- Our infrastructure revolution continues with key projects attaining critical milestones under the Presidential Infrastructure Development Fund; The Second Niger Bridge, The Lagos- Ibadan Expressway and the Abuja-Kaduna-Zaria-Kano Expressway.
11- The rail system is not left out as the Itakpe-Warri standard gauge rail was completed and commissioned 33 years after construction began. The Lagos-Ibadan double-track railway line which I have just commissioned has commenced operations.
12- In the last two years, 10.5 million people lifted out of poverty – farmers, small-scale traders, artisans, market women, and the like.
13- During the pandemic, we disbursed N5,000 to 1 million Nigerians using a Rapid Response Register and advanced N20,000 to 750,000 beneficiaries of the Conditional Cash Transfer Progamme and provided 1.37 million Nigerians with palliatives from CACOVID.
14- In addition, Government reduced interest rates from 9% to 5% for struggling businesses and extended credit facilities to 548,345 beneficiaries.
15- I have, throughout my tenure, provided the security agencies with all they require relative to available resources and will be providing more as the dynamics unfold to put an end to our security problems.
Happy Democracy Day! God Bless us All, God Bless the Federal Republic of Nigeria.