President Muhammadu Buhari Monday in Abuja assured Nigerians that the 11.9km Moment Niger Bridge, 120 km Lagos-Ibadan Expressway and other key projects under the Presidential Infrastructure Evolution Fund (PIDF) will be completed within the moment term of this administration.
The President gave the assurance at the opening of a two-day Mid-Term Ministerial Performance Review Retreat organized to assess progress made towards the achievement of the nine key priorities of his administration.
His spokesman, Mr Femi Adesina, made this known in a statement on Monday.
Buhari used the occasion of the retreat, the third edition since the moment term of his administration, to highlight some of the Federal Authorities’s notable achievements in the in conclusion 2 years.
He listed accomplishments in the areas of infrastructure, transport, economic system, electricity render, the crude oil industry, amidst others.
‘‘On transport, we are growing the stock and character of our route, rail, air and body of water transportation infrastructure.
‘‘The PIDF projects are also advancing remarkably. These include the 11.9km Moment Niger Bridge, 120 km Lagos-Ibadan Expressway, 375 km Abuja – Kaduna – Zaria – Kano Expressway, and the East-W Route. Most of these projects are expected to be completed within this 2nd term of our Administration,’’ he said.
President Buhari expressed delight that over the past times 2 years, ministers have rendered reports to the Federal Executive Council on their activities related to the achievement of their ministerial mandates.
‘‘Some of the notable achievements include the establishment of InfraCo Plc in 2020, as a world-class infrastructure evolution vehicle, wholly focused on Nigeria, with combined debt and fairness take-off working capital of N15 trillion, to be managed by an independent infrastructure fund manager.
‘‘The Presidential Infrastructure Evolution Fund was also established in 2020 with to a greater extent than USD 1Billion in funding.
‘‘In add-on, we have launched the Nigeria Innovation Fund by the Nigerian Sovereign Investment Authorization (NSIA). This is aimed at addressing investment opportunities in the domestic engineering sector: information networking, information centers, software, Agri-tech, Bio-tech, and to a greater extent,’’ he said.
Furthermore, President Buhari famous that his administration had made tremendous progress on railway projects in the country, noting that upgrading of the railway network is existence extended with the recent completion of the Lagos – Ibadan line.
‘‘The Itakpe-Ajaokuta rail line has finally been completed and commissioned after 30 years of its conception.
‘‘Work is expected to commence rattling shortly on the Port-Harcourt Maiduguri line and Calabar – Lagos Coastal Line to associate the Southern and Eastern States of our Country. Betterment is also existence made on the upgrading of our Airports, with the state-of-the-art facilities in line with world-class security standards,’’ he said.
On the economic system, the President said the land witnessed 3 consecutive quarters of growth, after negative growth rates recorded in the moment and third quarters of 2020.
‘‘The gross domestic product grew from 0.8% in 2017 to 2.2% in 2019, but declined in the first of all quarter of 2020, as a resultant of the downward trend in global economical activities triggered by the COVID-19 pandemic,” he said.
‘‘As of Moment Quarter 2021, gross domestic product growth rate was at 5.01%, the highest since the inception of this administration.”
On security, President Buhari announced that the Ministry building of Defence has been instructed to create a modest military-industrial complex for the local production of weapons to come across some of the requirements of the country’s armed forces.
The President explained that the establishment of the industrial complex would address Nigeria’s over-dependence on other countries for armed services equipment and logistics.
He said the projection is existence implemented under the Defence Industries Corporation of Nigeria (DICON), a armed services department responsible for arms manufacture.
On other efforts to strengthen national security, the President said it was gratifying to notation that Nigeria has received 6 A-29 Super Tucano.
He said the propeller-driven aircraft are existence used for grooming, surveillance, and onset by the armed services.
‘‘As division of the efforts towards strengthening our national security, we have increased investments in arms, weapons and other essential equipment; expanded the National Command and Command Centre to 19 states of the Federation; and established a Nigerian Law Trust Fund, which will significantly improve funding for the Nigeria Law Strength.
‘‘We have also approved the total of N13.3 billion for the take-off of the Community Policing initiative across the country, as division of measures adopted to consolidate efforts aimed at enhancing security nationwide,’’ he said.
On the Powerfulness Sector, President Buhari famous that the implementation of a ‘Willing Buyer-Willing Seller’ policy has opened upward opportunities for increased delivery of electricity to underserved homes and industries.
He expressed the hope that the execution of critical projects through the Transmission Rehabilitation and Expansion Programme, will resultant in achieving the national goal of improved powerfulness render by 2025.
On the Crude Industry Deed signed into law on 16th August 2021, the President reiterated his directive to the Implementation Commission to finish all processes for the successful operationalization of the Deed within 12 months.
In efforts to empower the youth and other vulnerable groups by enhancing investments in the Social Intervention Programmes, the President said he has approved the expansion of the National Social Register (NSP) by 1 million additional households.
The NSP is the official database for the implementation of the Conditional Cash Transfer programme.
‘‘We have established the N75 billion Nigerian Youth Investment Fund created to boost the Nigerian economic system through leverage and access to finance for youths.
‘‘The Fund should serve as a catalyst to unleash the potential of the youth and to enable them to build businesses that will stimulate economical growth and create jobs. These accomplishments are a testimony to the fact that all hands are on deck in establishing a solid foundation for fifty-fifty greater successes in time to come,’’ he said.
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