The Nigeria Posterity Project (NPP) has stated that in spite of the challenges arising from the dwindling global oil prices, Nigeria’s economy remains strong and stable under President Goodluck Jonathan,
The NPP, a non-governmental and apolitical organisation, said their findings were based on empirical research into the Nigerian economy between 2010 and 2014.
In a press statement signed by its National Coordinator, Louis Ebodaghe, in Abuja on Saturday, the group which comprises intellectuals, economists and social activists, said Nigeria’s economy has turned out to be the best and biggest in Africa, beating South Africa to a second position.
It said: “without being political, statistics have shown that President Jonathan has developed the economy, raising the Gross Domestic Product (GDP) to seven per cent per annum in the past six years, the highest in sub-Saharan Africa so far.”
According to the group, “Nigeria’s economy is now ranked 26th in the world and these figures were obtained from the World Bank record. Foreign direct investments in the first six months of 2014 stood at $9.7 billion. The regime’s automotive policy has injected fresh ideas and vibrancy into Nigeria’s automotive sector.
“The industry which has been moribund for 20 years has bounced back to life with Nissan, Hyundai, Kia, Peugeot and Stallion Motors assembling their products locally in Nigeria, while the innovation of Innonson Motors is manufacturing quality vehicles locally. These have created jobs and boosted the Nigerian economy tremendously.”
The group also stated that “The President’s Agric Transformational Agenda (ATA) has revolutionised the sector leading to increase in food production and the reduction of food importation by 45 per cent as at the end of 2014.”