President Muhammadu Buhari says Nigeria is currently experiencing monumental challenges that mean tough choices have to be made.
Speaking in Abuja on Tuesday at the opening of the 21st Nigerian Economic Summit (NES), Buhari said there were also “incredible opportunities for achieving competitiveness”.
He was represented by Vice-President Yemi Osinbajo.
“We are at a time of monumental challenges and tough choices, but also a time of incredible opportunities for achieving competitiveness, inclusive growth and sustainability”, Buhari said.
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“We, as a government, are called upon to make tough choices in exchange for control restrictions, altering the absurd recurrent-to-capital expenditure ratio, reducing the deficit and reducing the overall size of governance.
“We are called upon to clean up the mess and rebuild the institutions that corruption has ravaged over the years.”
Buhari said his government would build an economic model that involving substantial social investment over the next three years.
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The three-day summit has as its theme, ‘Tough choices: Achieving competitiveness, inclusive growth and sustainability’.
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