President Goodluck Jonathan remarkable progress in the Nigerian economy

President Goodluck Jonathan
remarkable progress in the Nigerian
economy – President Goodluck
Jonathan, after taking office, has
made remarkable progress in the
growth and development of critical
sectors of the Nigerian economy,
especially agriculture, manufacturing,
power as well as services.
According to international firm KPMG*, "In terms of
Nigeria's economic policy, prospects have improved
with President Goodluck Jonathan in the driving seat,
with a strong technocratic economic team lending
support."
Over the course of his administration, Nigeria has
become the preferred destination for foreign direct
investment in Africa, leading to unprecedented
economic growth and job creation.
Under President Jonathan's leadership, the National
Bureau of Statistics rebased Nigeria's GDP, securing the
country's rightful place as the largest economy in Africa
and the 26 largest economy in the world. The release
of the rebased GDP data is part of a broader push by the
Jonathan Administration to improve and update
Nigeria's statistics.
Achievements:
Created 1.6 million new jobs under various
programmes including the Community Service
Scheme (CSS), Graduate Internship Scheme (GIS),
Youth Enterprise with Innovation in Nigeria
(YouWiN!) and the Subsidy Reinvestment and
Empowerment Program (SURE-P).
Created 250,000 jobs in the agriculture sector by
enabling Dry Season Farming in 10 Northern states.
Launched the National Industrial Revolution Plan
(NIRP) to spearhead private sector-led
industrialization by strengthening the value chain of
various manufacturing industries.
Introduced SURE-P (The Subsidy Reinvestment and
Empowerment Programme), which has created
185,000 jobs across the country.
Lowered government fiscal deficit from 3.35% of
GDP in 2010 to 1% in 2014.
Enhanced transparency in government financing
through the publication of monthly FAAC
allocations to Federal, States, and Local
Governments.
Hosted the World Economic Forum on Africa for
the first time in 2014, showcasing Nigeria's
impressive economic growth to a global audience
and attracting further foreign investment.
Generated $68bn in Foreign Direct Investment,
with notable projects including: Indorama's $1.2bn
fertilizer plant at Onne, Procter and Gamble's
$250mn consumer goods plant in Ogun, and SAB
Miller's $100mn brewery in Onitsha.
Tackled fraud in the oil subsidy regime, identifying
N370 billion in fraudulent claims now targeted for
recovery.
Spearheaded the YouWIN programme, aimed at
creating youth employment and alleviating poverty.
The programme will create 80,000 -110,000 jobs
over 3 years.
Initiated the Community Works Programme to
create 370,000 jobs in 3 years with all 36 states and
the FCT benefitting.
Established the Nigeria Sovereign Investment
Authority (NSIA) to manage the Sovereign Wealth
Fund and oversee The Future Generations Fund,
The Nigeria Infrastructure Fund and The
Stabilization Fund.