Nigeria safe for investment – Finance Minister, Edun

Nigeria safe for investment – Finance Minister, Edun

 Minister of Finance and Coordinating Minister of the
Economy, Wale Edun, has assured investors that Nigeria is safe for investment.

 

Edun said this at the Nigeria Investment Forum, at the
ongoing World Bank/International Monetary Fund, IMF, Meetings in Washington
D.C. on Wednesday.

 

He said efforts were geared towards maintaining fiscal
congruence.

 

“That’s one of the reasons for the new team at the Nigerian
National Petroleum Company Limited, NNPCL, and their mandate is to increase
production and save costs,” he said.

 

According to him, the administration was intensifying
efforts to diversify and stabilise the economy, adding that optimisation of
assets was another route to closing the gap in the budget.

 

“We need to ensure that we maintain fiscal congruence, the
mandate of NNPCL is to increase production and save cost, we are also
diversifying the economy.

 

“We are committed to stabilising the economy so that the
private sector will find it attractive to invest.

 

“Optimisation of assets is another route to closing the gap
in the budget, the government believes in the sanctity of contracts,” the
minister added.

 

He said that the administration of President Bola Tinubu had
implemented foundational reforms that were now yielding results, with the
country’s economy expanding.

 

Edun further said that macroeconomic stability was gradually
returning as reflected in narrowing budget deficits, improved trade balance,
and a stabilising exchange rate, stressing that the government was now shifting
its focus to targeted sectoral growth.

 

According to him, the government top list is agriculture as
the entire value chain, with the goals of boosting food security and enhancing
productivity.

 

The minister reiterated that about 90,000km of fiber optic
cable to enhance digital connectivity has been rolled out; it is important to
empowering Nigeria’s youth and tech entrepreneurs.

 

Edun said that additional 4,000km of roads have been
tendered for private sector participation, with the first 1,000km already
signed off for delivery.

 

Source: Nigeria safe for investment – Finance Minister, Edun

 - NigerianEye

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