Akin Akande, Abuja
The Peoples Democratic Party (PDP) on Sunday commended President Goodluck Jonathan over what it described as achievements in the critical sectors of the economy through his transformation agenda.
The party, in a statement by its National Publicity Secretary, Chief Olisa Metuh, said that the nation was on a sure path to economic prosperity.
It noted that the President had vigorously pursued his economic reforms and expressed happiness that they have started yielding results.
“We are indeed highly impressed that the reforms initiated by the President has started yielding very high dividends resulting in a massive leap in the nation’s economy, which has also been acknowledged by the world community; the latest being the Fitch Ratings which affirmed Nigeria’s long-term foreign and local currency IDRs as well as senior
unsecured bond and Short-term foreign currency IDR ratings respectively at ‘BBs,” the ruling party said.
“It is heart-warming that at a time other economies of the world are having a downward trend, Nigeria’s economy on the other hand is experiencing stability and growth,” it said.
Particularly, the PDP commended the President for “initiating the new Automobile Industrial Policy Development, which is focused on promoting investments in affordable made-in- Nigerian vehicles” even as it noted the conclusion of arrangements to kick-off passenger service on the Eastern railway route before the end of December.
“We are happy that the New Automobile Industry Policy is already yielding results. Direct foreign investments are already flowing in from leading vehicle manufacturers including Nissan and Stallion Group, which have entered into an agreement with the Federal Government to establish auto plants in Nigeria,” the party stated.
“This policy which also promotes the manufacturing of spare parts of vehicles used in the country will not only generate massive employment for our people but will guarantee technology transfer, reduction in cost of vehicles, increase in ancillary investment opportunities and a boost
in medium and small-scale enterprises. This, no doubt will contribute in transforming our country into a manufacturing hub in Africa,” Sunday’s statement added.
In the power sector, the PDP said that President Jonathan has shown resilience in ensuring the achievement of production targets.
“We note that acceleration of works that led to the commissioning of the Geregu Power Project in Kogi State on October 4, 2013 as well as the Omotosho 2 Power Station in Ondo State which was commissioned last Saturday,” it said.
The party, however, noted the acceleration of works in other power plants including Calabar, 630MW; Egbema, 378MW; Ihorvbor, 504MW; Gbarain 252MW; Sapele 504MW; Omoku 252MW; Alaoji 1076MW and Olorunsogo 750MW.