Nigeria’s Stock Market Ended 2017 As One Of The Best In The World – Femi Adesina

Femi Adesina has said that only the blind will not see President Buhari’s achievements.

The presidential spokesman said this in a statement which he made available to newsmen in Abuja.

He said “Some people have made it a pastime to talk as if there is no silver lining in the sky as far as the Nigerian economy is concerned. They carry on as if it is doom and gloom all the way, a thoroughfare of woes.

“This they do to hoodwink the public, and peradventure gain political advantage for themselves, or their principals.

“But facts are stubborn things. Those arrayed against facts may abhor and deride them, but there they are, staring them starkly in the face.”

Adesina also said “One of the factors responsible for the positive performance of the economy in Q1 2018 was the spending of about N1.5trn on infrastructure projects in 2017.

“For the past 15 months, inflation has declined consistently from 18.72 percent to 12.48 percent. The country is steadily on the road to single digit inflation rate.

“The first quarter of 2018 saw a continuous growth in total capital importation into the country, the fourth consecutive quarterly increase since Q2 2017. The total value of capital imported is $6,303.63m, a 17.11 percent growth over the figure reported in the previous quarter.

“Foreign reserves stand at $47.79bn, compared to $29.6bn inherited in May 2015, after about six years boom in oil prices in the international market. The increase came at a time of modest oil prices, showing transparency and accountability by government.

“Nigeria’s Stock Market ended 2017 as one of the best-performing in the world, with returns of about 40 percent.

“Tax revenue increased to N1.17trn, in Q1 2018, a 51 percent increase on the Q1 2017 figure.”