Finance Minister unveils economic agenda to boost economy

Minister of Finance and Coordinating Minster of the economy Wale Edun has unveiled an economic agenda aimed at job creation, boosting revenue, cutting down on borrowing, prudent use of financial resources and blocking leakages.

This also includes food security, increased access to funding for businesses and more economic inclusiveness amongst others.

The Nigerian economy has over the years grappled with several challenges bordering on high inflation, weak currency, unemployment and poverty amongst others.

The present administration has already put a number of strategies in place to address the situation.

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The finance minister and coordinating minister of the economy is now unveiling an economic agenda towards driving growth and development.

Key highlights of the agenda are fiscal measures aimed at cutting down on borrowing and pushing up revenue, job creation, improved access to credits ,blocking leakages and more judicious use of financial resources by way of automation and digitization amongst others.

The minister is hopeful these interventions will aid the apex bank’s naira stabilisation efforts alongside other strategies to encourage more forex inflows into the economy

He is also optimistic the benefits of subsidy removal will materialise with time.

The NNPC limited on its part says oil production output at the moment is 1.67 million barrels per day ,with a 46 million litre daily fuel consumption, since the removal of subsidy and this includes cross border leakages.

It also adds that the recent three billion dollar deal with Afrexim bank to help stabilize forex , is a forward sale and not a loan as reported and the transactions cannot collapse as speculated.

The country’s tax reform committee as well adds that tax incentive reviews are imminent alongside the removal of disincentives in the country’s tax system and the expansion of existing tax income sources.

Food security , economic inclusiveness with emphasis on youths and women as well as exploring human resources to enhance development are also areas of the economic agenda’s concentration .

This is alongside regular evaluations of the various ministers progress on the job.