President Goodluck Jonathan has said that the 2015 national budget, which is now before the National Assembly, is targeted at deepening his government’s efforts at becoming a non-oil economy.
He said that the budget also includes measures to ensure that the downturn in the price of oil does not affect the nation’s development plans and the economy too adversely.
“We are adjusting our financial processes to safeguard our economy. We are also taking steps to ensure that the poor and the low and medium income earners do not bear the brunt.”
President Jonathan who addressed the nation this morning in a New Year broadcast emphasized that his government would, in 2015, continues to lay the foundation for a vibrant economy that would attract significant Foreign Direct Investment and promote policies that would ensure economic stability.
“We will ensure stability in the value of the Naira by striving to take away speculative behaviours that cause market exchange pressures.
“We will continue to build and maintain a healthy external reserves position and strengthen fiscal buffers. We will ensure the Naira remains strong, and gives foreign investors the clarity and certainty that they need, to guide future investment decisions.
“We will continue to improve our payment systems and strengthen risk-based supervision mechanism for Nigerian banks to ensure overall health and stability of the banking system.
“We are introducing a broad spectrum of financial instruments to boost sector-specific enterprise areas in agriculture, Micro, Small and Medium Scale Enterprises (MSMEs), manufacturing, and oil and gas to enhance our aggregate supply capacity, reduce poverty, promote job creation and increase the general well-being of our people.
“These efforts and other measures being spearheaded by relevant Ministries, Departments and Agencies, are geared to ensure a secure future for Nigeria and create a much more prosperous country, where people live more peaceful and fulfilled lives.” [myad]
