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

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.