Finance Minister Wale Edun has praised Bola Tinubu for stabilizing Nigeria’s economy and setting a course to lift millions of Nigerians out of poverty.
Speaking on Monday at the opening ceremony of the 2024 National Council on Finance and Economic Development conference in Bauchi, Edun highlighted Tinubu’s commitment to addressing the nation’s economic challenges.
He emphasized that Tinubu is sparing no effort in implementing policies and programs designed to improve the quality of life for all Nigerians.
“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 stated that significant macroeconomic reforms are now in place, asserting that President Tinubu “has stopped the bleeding” that previously drained 5% of Nigeria’s GDP annually, benefiting only a select few and neighboring countries through the fuel subsidy and a related foreign exchange subsidy.
The minister explained that crude oil is now being exported and locally refined to produce petroleum products and raw materials for industries.
He encouraged Nigerians to take heart, emphasizing that the country now enjoys a more stable and sustainable macroeconomic environment conducive to investment.
According to Mr. Edun, this improved environment will enable businesses to compete effectively in the domestic market and expand into exports.
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