BAUCHI, (ChatnewsTV) – The Minister of Finance and Coordinating Minister of the Economy, Dr. Wale Edun, has announced that Nigeria’s economy is now primed for private investment, following significant policy shifts under President Bola Tinubu’s administration.
Speaking at the opening ceremony of the 2024 National Council on Finance and Economic Development (NACOFED) Conference in Bauchi on Monday, Dr. Edun emphasized that President Tinubu is committed to lifting millions of Nigerians out of poverty through targeted policies and economic reforms.
“The President is leaving no stone unturned in his efforts to ensure a better life for Nigerians,” the Minister said. “Key policies introduced by the Tinubu-led government have stabilized the economy and opened doors for investment and development.”
Dr. Edun highlighted several critical reforms, including the removal of fuel and foreign exchange subsidies, which he noted had been draining five percent of Nigeria’s Gross Domestic Product (GDP) annually. These subsidies, he explained, were largely benefiting a small segment of the population and neighboring countries, while the average Nigerian saw little advantage.
“The removal of these subsidies has freed up significant funds,” he added, “which are now being redirected towards infrastructure projects and essential social services like education and healthcare.”
According to the Minister, these reforms have already begun to yield dividends, with increased resources flowing to the Federation Account. This has enabled federal, state, and local governments to expand investment opportunities across the country.
Dr. Edun stated that despite inheriting considerable economic challenges, the administration has swiftly acted to set Nigeria on a sustainable path toward industrialization and poverty reduction.
“President Tinubu’s measures are creating a solid foundation for private investors to confidently engage with the Nigerian economy,” he concluded.
