President Muhammadu Buhari at Eagle Square, Abuja
President Muhammadu Buhari at Eagle Square, Abuja

On Wednesday June 12, Nigeria celebrated its democracy day and the president delivered his long-awaited speech. The president in his speech did not explicitly state strategies to be pursued but made general statements across issues bordering on Insecurity, Infrastructure, Corruption and Poverty Alleviation.

On insecurity, the president acknowledged the rising occurrence of community clashes and banditry in rural communities which he suggested are products of religious bigotry, ethnic and political sectarianism. He, however, said the government is combating these issues with a superior strategy, firepower and resolve.

Furthermore, the president highlighted the negative impact of congested and inefficient seaports on growth in the manufacturing sector. Acknowledging the length of time it takes to clear shipments and secure regulatory approvals, the president again gave a bland resolution, stating that the government is committed to proffering a lasting solution. On corruption, the president revealed that the fight against corruption has been met with stiff resistance, with corruption finding a way to fight back. He, therefore, called for a collective resolution to address corruption in a bid to foster broad-based prosperity.

Finally, on poverty alleviation, the president stated that the APC-led government can lift 100 million Nigerians out of poverty in 10 years. He claimed his government has continually worked out strategies and mapped out policies aimed at lifting many Nigerians out of poverty and placing them on the path of prosperity.

In our opinion, though the president’s speech shows evident appreciation of some of the major challenges limiting Nigeria’s economic prosperity and wealth creation, it does not outline clear policies and guidelines on how these challenges will be tackled.

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CSL STOCKBROKERS LIMITED CSL Stockbrokers,

Member of the Nigerian Stock Exchange,

First City Plaza, 44 Marina,

PO Box 9117,

Lagos State,

NIGERIA.

Coronation Research

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