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