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The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.
He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.
He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.
“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.
“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
Speaking on the key priority areas President Tinubu will focus on, the finance minister said, “The key priorities are to improve the lives of Nigerians by providing food security by ending poverty.
“His plan for the economy is economic growth, job creation, access to capital- particularly consumer credit that makes goods affordable to the average Nigerian.
“Utilising our human resources- our vast, capable human resources, by focusing on inclusivity-women, youth and making all have the opportunity to contribute to prosperity and likewise focusing on security, rule of law and corruption. He intends to create a fairer, safer playing field for all.
Peoplesmind
