The Honorable Minister of Finance and Co-Ordinating Minister of the Economy, Wale Edun disclosed that the current administration has put measures in place to checkmate economic challenges, reduce inflation and improve the living conditions of Nigerians.
Edun made the disclosure on Friday during a Press Briefing at the headquarters of the Federal Ministry of Finance in Abuja.
According to the Minister, the economy is going through a challenging time which has a negative impact on the citizens and this has necessitated the present administration to strategize measures that will help to cushion the effects of hardship inflicted on Nigerians.
Wale added that, the purpose of the briefing was to throw more light on the Renewed Hope Agenda of the President Bola Ahmed Tinubu led administration and the initiatives put in place to achieve the agenda.
Edun said, “We are not where we should be, the economy is barley going above the rate of a rapidly growing economy. If we look back, we now have double digit inflation with depreciating exchange rate that is resulting in an economy that is not growing or lifting Nigerians out of poverty.”
Edun also highlighted the key areas of the Renewed Hope Agenda of Mr. President which include: food security, economic growth to reduce poverty reduction and increase job creation, inclusivity, increase literacy and reduction of out of school children in a safe playing ground for all.
Assuring that Government was determined to reduce the present economic challenges by encouraging private investment in Nigeria by Nigerians in the Diaspora which will allow private sector funding such as foreign direct investment, increasing huge flow of investors, noting that it was a pointer to Mr. President’s commitment to grow the economy.
The Minister added that automation and digitalization of processes are part of the measures of the current administration to block leakages, improve productivity and thereby creating more job opportunities and reduce poverty in Nigeria.
The Permanent Secretary Finance, Aliyu Ahmed, in his remarks applauded the media for their prompt response to the Press Briefing despite a short notice which is an indication of the importance the media attaches to getting proper information for dissemination.
Ahmed added that the two Ministries of Finance and Budget and Economic Planning are like siemens twins that cannot do without each other in joining forces together in achieving the agenda of the current administration.
Ahmed noted that every Ministry, Department and Agencies (MDAs) is relevant in contributing to the overall achievement of the Federal Government Agenda.
Some of the dignitaries that were in attendance at the event included: the Honourable Minister of Budget and Economic Planning, Senator Abubakar Bagudu, the Special Adviser to the President on Revenue, Zaccheaus Adedeji, the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, the GMD/CEO NNPCL, Mele Kyari, the Accountant – General of the Federation, Dr. (Mrs.) Oluwatoyin Madein, the Permanent Secretary Special Duties, Federal Ministry of Finance, Mr. Okokon Ekanem Udo, the Director- General Debt Management Office, Ms Patience Oniha , the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, the MD of Ministry of Finance Incorporated, Dr. Armstrong Takang and Directors of the Ministry of Finance among others.
Stephen Kilebi
Director (Press & Public Relations)
