The current reform of President Bola Tinubu’s administration is reshaping the nation’s economy, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has said.
He spoke at the Nigerian Economic Summit Group (NESG) National Economic Dialogue, in Abuja, Friday.
He challenged members of the Organised Private Sector (OPS) to join the government in its efforts towards the diversification of the economy.
The minister noted that the US Dollar domestic bond, designed to attract Nigerian savings from abroad and also fuel domestic economic growth for the betterment of the economy, as such initiative.
While acknowledging existing challenges in the agricultural sector, Mr. Edun reaffirmed the government’s dedication to curbing food inflation and improving food security.
His words, “We are making progress in controlling inflation and our immediate goal is to make food more affordable. ”
He also stressed the value of consistent strategic planning and the importance of learning from successful international models.
The minister commended NESG for its crucial role in facilitating vital economic discussions and reiterated President Tinubu’s unwavering commitment to advancing comprehensive economic reforms.
According to him, the present administration remains committed to attracting foreign investment and taking all necessary steps to achieve positive outcomes in various sectors of the economy.
In his keynote address, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, acknowledged that the country faced significant challenges but that the current strategy of the federal government was yielding positive results.
“Although we have not achieved all our goals, our population has grown, and we are not where we used to be. I want to assure everyone that we have a strategy in place, and it is working.
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“We understand that tough choices are necessary, and we are seeking resources to offset their impact. Our message is clear: we need to do more, do better, and do it quickly,” said Senator Bagudu.
The Chief of Staff to the President, Femi Gbajabiamila, underscored the need for collective responsibility in shaping Nigeria’s future. He emphasized that while the government plays a crucial role, the future of the nation cannot be determined by the government alone.
“The responsibility of answering the hard questions that confront us today lies not only with the federal, state, and local governments but with every Nigerian. The future of our nation is a collective endeavor,” Gbajabiamila asserted.
NESG Chairman, Mr. Olaniyi Yusuf, highlighted the ongoing challenges that continue to hinder the country’s development.
His words, “Our democracy has matured, and our economy has evolved, reflecting our collective efforts to diversify and create opportunities for millions of Nigerians.
However, we must also recognize the challenges we still face, such as policy inconsistencies, governance deficits, and economic vulnerabilities. These issues have contributed to the rising cost of living and doing business, and they must be addressed for us to achieve sustainable growth.”