Our Regime Will Strengthen the Naira – Says Buhari

Buhari who was speaking at a meeting with members of the Organised Private Sector (OPS) in Lagos said his government will work out a policy that would reduce importation with less demand for foreign exchange.

“We will concentrate on roads and highways that link up Nigeria states, while state government will be expected to connect their states to these highways by building the last mile connections”, he said and that roads will unlock a value chain of opportunities in the built industry for construction companies, builders, engineers, architects, quarry operators, cement and iron rod production and supply”, he said.
The Presidential candidate said his government will revive all interstate economies that used to thrive across Nigeria by providing support to travelers by way of canteens, restaurants, farm produce etc.

He challenged government to account for an estimated $20 billion adding that the whole country is awaiting a report of a forensic audit. $20 billion at N210 to $1 is equal to N4.2 trillion, nearly a year’s federal budget.

“If it is rue this sum cannot be accounted for, this is grossest for of corruption. Just think at N5 million per vehicle, this money would have bought 840,000 patrol vehicles. At N13.5 million for high capacity bus, this money would have bought 311,000 buses.

“From information at my disposal, Lekki Bridge in Lagos cost N29 billion to construct. N4.2 trillion would have built 145 Lekki bridges. If the average cost of generating one mega-watt of power is about US$1.5 million (excluding gas and distribution cost), $20 billion would have bought us over 13,333 mega-watts of power. What a difference that would make up and down the country,” he said.

He further said from studies carried out by the party, the nation would require not less than 200,000 trained personnel to support the initiative to provide power and light up Nigeria, saying that apart from the inherent direct employment that would give, the reduction in cost of production, the savings from self-generation by Nigerians, who currently spent a lot of their income on purchase of diesel and petrol to generate their own electricity, would reduce the burden on their disposable income.

“These savings to Nigerians from reliable electricity will help the average Nigerian spend their money on other basic necessities of life and reduce poverty. There is already an initiative to build a refinery in Lagos.

“Our government will support this initiative because a local refinery means many things, such as jobs locally at a Nigerian refinery instead of refineries abroad, local fuel supply and national security and reduced importation, less demand for foreign exchange and strengthening of the naira,” he stated.