1. The “facts” stated by @ProfOsinbajo are confirmation of the negative effects of the failed & incoherent policies of the @MBuhari admin since inception.
2. For the avoidance of doubt, we will repeat some of them.
a. Foreign Investment fell by 56% from $395m in Q1 2015 to $175m in Q1 2016.
b. Foreign Investment in the Stock market stood at a mere $90.3m in Q1 2016 down from $621m in Q1 2015
c. Inflation has risen to 16.5% in 2016. It stood at 9.6% in 2015 & 8.6% in 2014.
d. GDP growth has fallen from 6.3% in 2014 to 2.3% in 2015 & -1.8% in 2016.
e. It is difficult to verify his claim that FIRS has achieved 73.17% because the FIRS has blatantly refused to publish quarterly reports for 2016.
3. @ProfOsinbajo also states that CAPEX spending of the FG this year has been N332b & promises a release of N100b in the coming days.
4. While we appreciate this expenditure, it is a meagre 18.4% of the N1.8t proposed by #Budget2016 & as such is insufficient to provide any meaningful effect on the economy. Releasing only 18.4% of CAPEX expenditure as at August 2016 has stalled infrastructure devt & has killed 1000s of jobs.
5. The sum total of these figures shows that @MBuhari admin has badly mismanaged the Nigerian economy.
6. Even worse, the @MBuhari admin has no clue as to how to reposition Nigeria to beat the recession they have forced us into.
7. Many agencies are violating the FOI Act & refusing to divulge data because such data would reveal the extent of damage this admin has caused.
8. We hope that having finally appointed a Special Adviser on Economic Matters the @MBuhari admin will come up with better policies than the “try your luck” approach adopted in the past 15 months.
9. God bless Nigeria
Director, New Media