The Lagos State House of Assembly has extolled President Muhammadu Buhari for laying a solid foundation for the incoming government to thrive.
The Chairman, House Committee on Information, Security and Strategy, Mr Setonji David made this known in an interview in Lagos on Sunday while reacting to Buhari’s ” Farewell Broadcast”.
Buhari in his farewell message to Nigerians in Abuja, said he was leaving behind a legacy a resilience economy for Nigeria, despite the global economic crisis.
David said in spite the economic challenges the country faced, Buhari’s administration left behind some solid economic legacies for the incoming government.
“One of the economic achievements of this outgoing administration is the passage of the Petroleum Industry Act, 2021 which has helped to attract foreign investments in the Oil and Gas sector.
“Also, to plug the holes in public finance, Buhari began the implementation of the Treasury Single Account (TSA) and constituted a team for its Presidential Initiative on Continuous Audit (PICA).
“All these initiatives, particularly the latter, were reported to have saved the country N603.78 billion from its inception in 2016 to 2019.
“The Infrastructure projects by Buhari’s administration had made life less expensive for Nigerians, putting them on the step of prosperity, and that was part of the President’s commitment to lift 100 million Nigerians out of poverty,” he said.
David said Buhari’s interventions, especially in the agricultural sector through a series of incentives to Micro, Small, and Medium Scale Enterprises, had resulted in creating millions of jobs.
He noted that the Buhari-led government aimed to improve production of goods, increasing government revenues, creating wealth for individuals and increasing employment in both public and private sectors on a sustainable basis.
David said the Corporate Affairs Commission (CAC) in 2015, initiated some reforms, including 24-hour online registration of businesses and partial automation of post- incorporation filings from state offices to reduce turnaround time and reduce costs.
The spokesperson said that in July 2016, Buhari set up the Presidential Enabling Business Environment Council (PEBEC) a policy that had pushed Nigeria on the World Bank ease of doing business index.
He, therefore, urged the President -elect, Sen. Bola Tinubu to consolidate on the solid foundation the outgoing government had built when he takes over on Monday.
David said he was confident that Tinubu’s administration would consolidate on the gains achieved by the outgoing government.
