Exit from recession sign of positive economic growth ―Sen Araraume

FORMER Chairman, Southern Senators’ Forum (SSF) who is also a Board Member of the National Communications Commission (NCC), Senator Godwin Ifeanyi Araraume, said on Friday that Nigeria’s exit from recession was a positive signal of impending growth in the economy.

Senator Araraume, who stated this in a statement appraising Tuesday’s announcement of Nigeria’s exit from recession by the National Bureau of Statistics, commended President Muhammadu Buhari and his economic team for pulling Nigeria out of the woods.

He stated that the feat was a resounding signal to Nigerians and the international community that the incumbent government is alive to its responsibilities.

In a statement made available to newsmen and personally signed by the Senator, he cautioned that while Nigerians may not instantaneously feel the huge impact of the positive economic growth rate, the exit from recession was a positive first step towards growth.

He added that the development was strong and positive indices that President Buhari-led government is out to fast-track economic recovery, which he said is more to the people.

The Senator said: “I totally agree with those who said that there are different stages Nigeria must go through before the masses will feel the effects of end of the recession.

He added, “The first step is out of recession, which is very key to the process; and later the country will follow the path of economic recovery. What is important right now is for us to maintain the situation so that Nigeria does not go back to recession. And I am very sure this government has the capacity, the political will and discipline to sustain the process.”

According to him, the present government has taken concrete steps to stabilise the economy after it slipped into recession nearly a year back adding that the fall into recession was occasioned by factors including mismanagement of the economy by the past administrations; total dependence on oil, and the failure to diversify the economy.

He said:  Check it out; the massive road and railway construction work across the country — being executed by the Ministry of Transportation, are bringing back massive jobs that had been lost in the sector during the last administration.

“Before President Muhammadu Buhari came on board, contractors working on federal government’s projects were not paid. That is now history. Look at Abuja, all the abandoned projects have almost been completed; the same thing going on in the South-east and South-west geo-political zones.”

“Before Buhari came on board, there was huge corruption and impunity. Government officials were doing things as if nobody was in-charged. Contracts were being reserved for people in the presidency. But you don’t hear those things anymore. If you are pre-qualified technically and your financial biding is successful, you get the job.

‘’Nobody tells you anymore that some jobs are reserved for powerful people in the presidency or in government; there is no special interest anymore in the award of federal government contracts. If you have your necessary documentations ready and the necessary papers, you are good to go.

‘’What this means is that those who are engaged in legitimate business can now engage in government businesses. And those who are fraudulent — those who think they can just come with their briefcases, get into offices and get contracts, have no place in this government anymore.

‘’Take a look also at the ease-of-doing-business in Nigeria today. Before now, getting documents for businesses was taking some months but now it has been simplified. For example, if you pay your tax, you can get your tax clearance within a week or less than that.’’

He advised state and local governments to support President Buhari’s efforts, adding that there is now transparency in the release of funds to state and local governments.