President Muhammadu Buhari has said that the Central Bank of Nigeria had so far assisted more than 30 states of the federation with concessionary loans to offset salary arrears for their workers.
The president, who stated this in Abuja on Wednesday at the swearing in of ministers, said the bank also implemented country-specific and innovative policies that had helped to stabilise the exchange rate and conserve the nation’s reserves.
“The Central Bank of Nigeria has also assisted more than 30 states of the federation with concessionary loans to offset salary arrears for their workers.
“On the monetary side, the CBN has also implemented country-specific and innovative policies that have helped to stabilize the exchange rate and conserve our reserves.
“While recognising the challenges we face and the need to surmount them, let us not fail to note the progress we have made in the short life of this government, as an indication of how much better we can do as a people driven by patriotism and a common resolve to do things right.’’
Buhari expressed delight over the progress recorded by his administration so far, saying that “this is an indication of how much better we can do as a people driven by patriotism and a common resolve to do things right’’.
According to the president, trust is slowly but steadily being re-established between the government and the people.
He said that government business was being conducted with transparency and “cynicism is waning as a result’’.
“On the moral sphere, trust is slowly but steadily being re-established between the government and the people.
“Now, when the government speaks, the people listen; and when the people’s expectations are not met, they appreciate that it is not for lack of commitment or trying on the part of government.
“In effect, government business is now being conducted with transparency and cynicism is waning as a result.’’
On the new ministers, the president, who reduced the number of ministries from 38 to 24, said they must proceed to work speedily and do their utmost to justify the confidence reposed in them not only by their conduct but also by their performance in their various positions.