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Published On: Thu, Dec 4th, 2014

Oil price drop won’t distort economy, Jonathan assures

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…Confers 2014 National Merit Award on Osundare

By Lawrence Olaoye

President Goodluck Jonathan has assured Nigerians and foreign investors that the current slide in the crude price at the international market would not adversely affect the nation’s economy.

Jonathan gave the assurance yesterday while receiving a delegation of multinational industrial giant, General Electric (GE), led by its Vice Chairman and CEO, Mr. John Rice, at the Presidential Villa.

The President said that the government would do everything possible to maintain domestic economic stability, and urged the company to maintain its confidence in the country.

“We promise our people that even with the drop in oil prices, the economy will be stable.

“I urge you to maintain the confidence you have in this country before the oil price drop, and even expect better management from us.

“Sometimes, it is when you are challenged that you do better than when everything looks good.

“So, I assure you, other investors in this country and all Nigerians that the government will do everything necessary to stabilise the economy and that the drop in the price of crude oil will not create so much distortion in our economy,’’ he said.

The President thanked GE for its commitment to increase its investment in Nigeria with the attendant benefit of job creation for many more Nigerians.

 The GE boss expressed his company’s appreciation of the support and encouragement being extended by the Federal Government to foreign investors and assured the President that fluctuations in global oil prices will not affect the commitment of GE to the country.

President Jonathan also yesterday conferred the 2014 National Order of Merit Award on a renowned poet, Prof. Niyi Osundare, at the Presidential Villa, Abuja.

Osundare emerged the 71st recipient of the award which commenced in 1979 with the investiture of the late renowned author, Chinua Achebe.

He was presented with a medal and certificate while the award also has a N10million cash reward which the President said would be made available to the winner electronically.

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