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FG restates commitment to stabilise economy

The Federal Government has restated its commitment to continue to take measures to stabilise the economy.

Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy said this in Abuja at a Podcast hosted by Bruit Costaud in collaboration with Ballard Partners of the U.S.A.

The News Agency of Nigeria (NAN) reports that the immediate past Minister of Information and Culture, Alhaji Lai Mohammed, is the managing partner of Bruit Costard, a lobbyist and public relations firm and an affiliate of Ballard Partners.

In the podcast monitored by NAN, Edun said President Bola Tinubu inaugurated the micro-economic reform aimed at stabilising the economy.

“Currently, we are in a state of micro-economic reform. We have a drive towards the stability of the economic environment.

“It started on May 29, 2023, when President Bola Tinubu inaugurated the first of a couple of very important, bold, and necessary micro-economic measures to put the economy on a sound footing,’’ the minister said.

According to him, with the present state of the economy, Nigeria “is not where it should be, given its land mass and population’’.

“When you look at the natural resources and, of course, the quality of human resources in Nigeria, we are not where we should be.

“We are the largest in Africa and soon to be the second or third largest populations in the world,’’ he said.

On foreign direct investments (FDIs), Edun said that efforts were being made to stabilise the environment for investors, both foreign and local.

“We must admit that Nigerian investors, whether in the banking system or fast-moving consumer goods, can give anybody a run for their money.

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“The improvement will not only be for the foreign investors, but for all investors.

“As we go abroad and talk of attracting foreign investors, we also look for opportunities for Nigerian businesses to be able to invest efficiently and profitably in those markets abroad.

“So, it is a two-way thing. The key to growing the economy is, first of all, stabilising it, and once it is stable, things will fall into place,’’ he said. (NAN)

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