The Federal Government on Wednesday said former President Olusegun Obasanjo might have been too busy to notice the efforts being made by the Muhammadu Buhari administration to revamp the nation’s economy.
The Minister of Information and Culture, Alhaji Lai Mohammed, said this while addressing State House correspondents at the end of the weekly meeting of the Federal Executive Council at the Presidential Villa, Abuja.
The minister, however, commended Obasanjo for lauding the administration’s efforts to fight corruption and insecurity.
He was reacting to a statement in which Obasanjo asked Buhari not to seek second term.
Listing some of the achievements of the present administration, Mohammed said foreign reserves peaked at $40bn, the highest level in about four years, and up from $24bn just a year ago, even though the price of oil had crashed woefully.
He quoted the National Bureau of Statistics as reporting that inflation has fallen for 11 consecutive months, standing at 15.37% as at December 2017, describing it as the lowest inflation rate since January 2017.
This, he said, had met and surpassed the target set for inflation in the administration’s Economic Recovery and Growth Plan.
He added that the determined implementation of the Treasury Single Account has stopped the haemorrhaging of the treasury, disclosing that N108m has been saved from the removal of maintenance fees payable to banks, pre-TSA.
The nation, he said, was saving N24.7bn monthly with the full implementation of the TSA.
He said the elimination of ghost workers has saved the nation N120bn.
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