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« Prosecute Balogun now, ANPP tells Obasanjo | Main | Chloroquine not banned, says minister »

January 28, 2005

Economic reforms pay off — Atiku

VINCENT ADEKOYE, Benin and OKEY NWANKWO

VICE-President Atiku Abubakar has said the country’s economic reforms have started yielding results with the gross external reserves hitting $18.50 billion this month.

Atiku said this at the commissioning of the Benin Trading Floor of the Nigerian Stock Exchange (NSE) in the Edo State capital.

He said the inflation rate has also gone down considerably between December 2004 and this month.

Atiku said despite the criticisms that greeted the economic reform policies of this administration, the economy and other business activities had continued to witness an impressive performance.

He lauded the NSE for its support in ensuring steady growth of the economy.

"The Nigerian Stock Exchange has played an important role in the transformation of the Nigerian economy. The active involvement of the Nigerian Stock Exchange in economic reform is a demonstration of the goodwill our reform programme enjoys in the private sector. Government is committed to encouraging the development of the capital market and the private sector.

"You are aware that this administration has pushed for a paradigm shift, which places the private sector in the driver’s seat of the economy.

"These reforms and other policies are creating conducive environment for private enterprises to thrive in Nigeria. Our privatisation programme has made significant progress in the last few years" the Vice-President said.

In her speech, the Director General of the NSE, Dr. (Mrs.) Ndi Okereke Onyuike, lauded the efforts of the Edo State government in establishing the trading floor which according to her is the second largest in the country.

She announced the immediate licensing of about 500 stock broking firms that will ensure continuous trading activities on the floor and called on the people of the state to embrace the new development by participating in the trading activities.

Governor, Chief Lucky Igbinedion said he was motivated to set up the trading floor as part of his determination to improve business activities in the state.

The floor has about 20 computers and it is real online.

Posted by Publisher at January 28, 2005 08:23 AM

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