Agency report
Finance minister Wale Edun says President Bola Tinubu has stopped Nigeria’s economy from bleeding and is charting a way to move a lot of Nigerians out of poverty.
He stated this in Bauchi on Monday during the opening ceremony of the 2024 National Council on Finance and Economic Development conference.
Mr Edun said that the president is leaving no stone unturned to ensure that life is made easy for Nigerians by coming up with policies and programmes that would benefit all.
“President Tinubu’s administration inherited assets and liabilities, and there is no looking back. But it’s a question of charting a way of looking forward and making plans in order to first of all stabilise the economy.
“He is working hard to get investments through private sector investors, both domestically and foreign direct investors, to increase the productivity of Nigeria, grow the economy, create jobs, and, of course, move a large number of people out of poverty,” said the minister.
Mr Edun added the major macroeconomic reforms “are in place,” claiming that Mr Tinubu “has stopped the bleeding” that was costing five per cent of the country’s GDP every year that was adding no value except to a few people and neighbouring countries that were benefiting from what was happening with the fuel subsidy and a related foreign exchange subsidy.
The minister said crude oil was being shipped abroad and refined locally to give petroleum products and raw materials for industry. He urged Nigerians to be encouraged that the country now has a more stable, sustainable macroeconomic environment that is friendly to investors.
He said this would make it possible not only for them to produce competitively for the domestic market but also to export. NAN