Power remains a huge problem – Buhari

President Muhammadu Buhari says power remains a huge problem to the country despite the fact that energy production has reached an all time high of 7,001 Megawatts as of Sept 12.

President Buhari stated this in his broadcast to mark Nigeria’s 57thindependence anniversary on Sunday in Abuja.

President Muhammadu Buhari’s Independence Broadcast 2017(Full Text)

He, however, saidd that government was increasing its investment, clearing up the operational and financial log jam bedevilling the sector.

President Buhari also announced that a new presidential initiative that would create a minimum of 10,000 jobs for unemployed youths across 36 states of the federation and Federal Capital Territory (FCT) would be soon inaugurated with the aid of CBN’s development finance initiatives.

He noted with delight that the country had recorded seven consecutive months of lower inflation.

“Naira rate is beginning to stabilize, appreciating from N525 to one dollar in February this year to N360 today.

“Broad-based economic growth is leading us out of recession.

“Elsewhere in the economy the special window created for manufacturers, investors and exporters, foreign exchange requirements have proved very effective. Since April, about seven billion dollars has come through this window alone.

“The main effect of these policies is improved confidence in the economy and better investment sentiments.’’


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