Economic experts have described the inaugural speech of President Mohammadu Buhari as focused and reassuring. They said the inaugural speech though commendable, is not a speech on the economy. Commenting on the inaugural speech, Managing Director/Chief Executive, Financial Derivative Company Limited, Bismark Rewane said, “It was a very good speech. It was focused. It dwelt on the key issues.
buhari-pix1The speech was more of a governance speech, addressing core areas of governance. He talked about blocking leakages and the war against corruption.
buhari-pix1The speech was more of a governance speech, addressing core areas of governance. He talked about blocking leakages and the war against corruption.
I think there would still be a speech on the economy after he has studied the handover notes.” In his comments, Managing Director/Chief Executive, Partnership Investment Plc, Mr. Victor Ogiemwoyin said, “The President’s speech was very comprehensive on what our current problems are and was very forthright in admitting that the economy is at a low ebb.
“He has also assured us that the problems are not insurmountable. These are reassuring words and will bring confidence to Nigerians. There is a feeling that the problems also present opportunities to deal with long standing issues that require political will.
“We expect immediate and rapid policy decisions to address the economic issues already identified like the power situation and unemployment. We expect a sophisticated government that will focus on e-government to help reduce possibilities of corruption and streamline procedures with greater transparency.”
According Mr. Emeka Madubike, Chairman, Association of Stock broking Houses of Nigeria (ASHON), inaugural speech dwelt on the problems that have been confronting the nation. “What we need now is the grace of God to see us through this trying time.”
In his inaugural speech, President Buhari identified insecurity, pervasive corruption, the hitherto unending and seemingly impossible fuel and power shortages as the immediate priority for his administration. He also blamed the country’s poor economic performance over the decade on the poor power situation.
He said, “At home we face enormous challenges. Insecurity, pervasive corruption, the hitherto unending and seemingly impossible fuel and power shortages are the immediate concerns. We are going to tackle them head on. Nigerians will not regret that they have entrusted national responsibility to us. We must not succumb to hopelessness and defeatism. We can fix our problems.
However, no matter how well organized the governments of the federation are they can not succeed without the support, understanding and cooperation of labour unions, organized private sector, the press and civil society organizations.
I appeal to employers and workers alike to unite in raising productivity so that everybody will have the opportunity to share in increased prosperity. The Nigerian press is the most vibrant in Africa. My appeal to the media today – and this includes the social media – is to exercise its considerable powers with responsibility and patriotism.
My appeal for unity is predicated on the seriousness of the legacy we are getting into. With depleted foreign reserves, falling oil prices, leakages and debts the Nigerian economy is in deep trouble and will require careful management to bring it round and to tackle the immediate challenges confronting us, namely;
Boko Haram, the Niger Delta situation, the power shortages and unemployment especially among young people. For the longer term we have to improve the standards of our education. We have to look at the whole field of medicare. We have to upgrade our dilapidated physical infrastructure.
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