CNN Verdict: An affirmation of global confidence in Nigeria’s economy – PDP

The Peoples Democratic Party (PDP) has said the grading of Nigeria as the third fastest-growing economy for 2015 after China and Qatar by the CNNMoney, a business analysis programme, is a referendum on the prudent management of the Nigerian economy by the President Goodluck Jonathan-led administration, describing it as a verdict of a disinterested party.

A statement by the National Publicity Secretary of the PDP, Olisa Metuh, Saturday said the assessment, coming from the world leading media institution is a confirmation of an earlier evaluation by other international institutions that proclaimed a thriving performance and a bright future for our economy and added that it was another sign that Nigeria is safe and well-led under the PDP.

“The grading by the CNNMoney is another witness to the reality of positive changes, brought to all sectors of the national life and whose cumulative impact formed a consistent growth driver for the economy. Here again is the reality of the global confidence in the vivacity of Nigeria as Africa’s largest economy.

“For those in opposition, who for expediency of politics found it convenient to deny what is as clear as daylight and even denounce what ought to be applauded, the CNN verdict is a reminder once more that constructive criticism is the mettle of credible opposition.

“The tremendous progress that Nigeria made in the socio-political and economic sphere under our great party has continued to receive commendation and popular acclaim locally and internationally. The message to all Nigerians therefore is to keep hope alive; that things can only get better,” the PDP said.

The party said this success did not come by accident but through deliberate application of policies as articulated in its manifesto, which also resulted in the creation of investment-friendly environment that has enabled enterprises to thrive in the country.

“Private businesses such as the MTNs, the Dangotes, the Intel Services, the Oandos, the Innosons and a host of others in aviation, oil and gas, retailing, hospitality, banking and other sub-sectors of the economy have excelled.

“This is in addition to the phenomenal influx of internationally reputable firms such as CCECC, Kia, Nissan, Shoprite and a host of others in railways, oil and gas, automobile, communication, the stock market, construction among others which have helped to boost our economy”, the statement said.

It concluded that safeguarding this positive turn against reversal belongs exclusively to the province of the people of Nigeria, adding that President Goodluck Jonathan has demonstrated that he has all it takes to move the nation to where it rightly belongs.


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  • Captain Haddock

    Why does this have to come from PDP? Why didn’t PT deem it fit to inform us on this affirmation by CNN?? If it ws APC now, this wuldv been BREAKING NEWS!!
    Nawa o!
    d tin go dey pain them well-well now. Too bad!

  • MI

    Let the West come and invest in the economy now to prove the CNN report. In the last 4 – 6 months Western financial institution were reported to have heavily divested partly reason why stocks crashed towards end of last year and the trend is not any better. For a while so many investment decisions have considerably slowed down, even Nigerian are finding safe destinations including Rwanda for business rather than home. The giant of Africa is now written referred to in small letters.

    • emmanuel

      We all know that the crashed Crude price is the reason the capital market has continued on the bearish end.

      I am an inevstor in that sector. Please do not teach what you do not have or know. The trend would reverse once Oil price picks up.

      The wotld is satisfied with Nigeria economic management. Only the APC in belly aching is unhappy because that gives them some minuses.

      • Amir

        If you are an investor, why pander into politics of PDP and APC? Everyone knows you as a PDP e-rat, unless your are an investor in PDP. This was the same PDP that rejected CNN report about our ill equipped military, now coming to believe the same news media.

  • MI

    What happens if oil price remain low Mr investor? Good Economy is a function of many factors and not just crude oil price alone. Even before the crash in oil prices our economy was a facade, the naira is pressured for so many reasons you wouldn’t know. You have a regime feasting on every earning and saving thereby weakening the naira indirectly and here you are telling me all will be ok with only a higher crude oil price? No doesn’t go that way neither is economics that easy. The whole voo doo economic being ushered to us is gradually coming to the open. Economics sometimes is common sense and we have lost investors more for the other reasons than just oil pricing.