Address by His Excellency, President Umaru Musa Yar’Adua (GCFR) at the 2009 Appropriation Bill signing ceremony held March 10, 2009.
I ASSENT to the 2009 budget today, with a clear appreciation of the seriousness of the challenges we face as a nation. Our revenue base is dwindling with the drastic fall in the price of crude oil. As at today, the Naira has lost about 25 per cent of its value against the United States Dollar. Our stock market, once a choice investment destination, has not escaped the adverse effects of the economic downturn. These developments have grave implications for macro-economic stability, economic growth and sustainable development in our country. (more…)