Wale Edun
HighlightTrending Story

Edun outlines Tinubu’s vision, road map for Nigerian economy

366

Mr Olawale Edun, the Minister of Finance and Coordinating Minister of the Economy, has outlined President Bola Tinubu economic vision and road map aimed at improving the lives of Nigerians.

The Minister, however, acknowledged that the last time Nigeria’s economy looked stable was about a decade ago, hence the resolve of the President to partner with private sector to generate revenue.

Edun, who made this known during his inaugural news conference in Abuja on Friday, said the key priorities of the renewed hope agenda “are to improve the lives of Nigerians by providing food security by ending poverty.”

He said: “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.

“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.”

He pointed out that government expenditures will be curtailed to maximize revenue, to execute government plans and achieve the President’s agenda.

Edun added: “On the one hand is by increasing tax revenue not by increasing taxes but by bringing greater efficiency and to maximise the revenue.

“There will be an emphasis on efficiency in government expenditure and effective debt management so that borrowing has linked to it, the effective debt management.

“Overall, the President is going to provide a better life for all by encouraging investment that improves productivity, grows the economy and thereby creates jobs and reduces poverty.”

Persecondnews recalls that at the end of the maiden Federal Executive Council meeting in Abuja on Monday, Edun revealed that Tinubu administration wanted to bring back the sluggish nature of the economy back to life.

The crave for debt in the Buhari administration was “addictive and insatiable” as the administration plunged the country into about N80 trillion debt, he said.

Edun pointed out that unlike the previous government, the Tinubu administratoon did not intend to borrow from any local or foreign organisation to stimulate the economy.

 

Leave a comment

Related Articles

NNPC Ltd. hosts NSC boss, pledges support for revitalization of Nigerian football

In a significant move to boost Nigerian football, the Nigerian National Petroleum...

Nigerian youths essential to repositioning Africa, says VP Shettima

Vice President Kashim Shettima has reaffirmed the federal government’s commitment to youth...

Just in: Simon Ekpa ‘ll be extradited to Nigeria to face charges – Defence Headquarters

The Nigerian Defence Headquarters, Abuja, has announced plans to extradite Simon Ekpa,...

NPA’s CEO Dantsoho Makes History as First Nigerian Chairman of PMAWCA

In a groundbreaking achievement, Dr. Abubakar Dantsoho, Managing Director of the Nigerian...

Save for rainy day, Federal Accountant General urges state govts, emphasizes transparency, accountability

In a bid to ensure financial stability during adverse situations and economic...

Sacked UNIZIK VC Odoh to Tinubu: You can’t fire me through press release

Sacked Vice-Chancellor of Nnamdi Azikiwe University (UNIZIK), in Awka, Anambra State, Prof....

UBA to empower MSME’s with wealth management strategies at its ‘Built to Last’ series

As part of its commitment to deepen the growth and sustainability of...

Olopade assumes office as NSC DG, promises new lease of life for Nigerian sports

Bukola Olopade had assumed office as the Director General of the resuscitated...

Amid High Inflation Rate, IMF Pledges Support for Nigeria’s Economic Reforms

International Monetary Fund (IMF) President Kristalina Georgieva and her team met with...

Nigeria’s Super Falcons Ajibade, Nnadozie, Nominated for 2024 CAF Women’s Player of the Year

The Confederation of African Football (CAF) has announced the nominees for the...

Just in: FG announces reshuffle of governing councils at FUOYE, Kogi varsity

The Federal Government has made changes to the governing councils of Federal...

Exclusive: Eguavoen Opens Up on Declining NFF Contract Extension, Reveals Reasons

Super Eagles Coach, Austin Eguavoen, has revealed why he declined the Nigeria...

Boost for Nigeria’s Oil Production As NNPC’s Utapate Crude Grade Hits Global Oil Market

In a major boost for Nigeria’s crude oil production, revenue generation, and...

Just in: FG sacks varsity Pro-Chancellor for misconduct

The Minister of Education, Dr. Tunji Alausa, has announced the removal of...

Just in: INEC presents Certificates of Return to Ondo Gov. Aiyedatiwa, deputy

The Independent National Electoral Commission (INEC) has presented Certificates of Return to...

Breaking: Senate sacks Danladi Umar, Code of Conduct Tribunal chairman  

Following proven allegations of gross misconduct and unacceptable behaviour, the Senate on...

Just in: South Africa takes over G20 Presidency from Brazil, first African nation to lead the bloc

South Africa has taken over the presidency of the G20 from Brazil,...

Tinubu submits 3 INEC REC, federal commissioner-nominees for Senate’s approval

President Bola Tinubu has sent the name of Ondo Resident Electoral Commissioner,...

Just in: After a night in custody, DSS in Ogun releases Ladi Adebutu

Mr. Ladi Adebutu, the 2023 People’s Democratic Party (PDP) governorship candidate in...