The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has emphasised President Bola Tinubu’s empathy and dedication to easing the impact of economic reforms on Nigerians.
Speaking at the 2023 Annual Directors Conference of the Chartered Institute of Directors Nigeria (CIoD) in Abuja, Edun assured that the reforms, though necessary, will take time to yield benefits.
He highlighted the theme of the conference, “Driving Nigeria’s Economic Transformation and Diversification: The Role of Corporate Governance,” and stressed that while the Nigerian economy is diversified, there is an urgent need to diversify its sources of foreign revenue.
Edun further stated, “The agenda is to provide first and foremost a stable economy, growing more than population growth, with low inflation, stable foreign exchange to enable investments in productive activities.”
Dr. Doris Uzoka-Anite, the Minister of Industry, Trade and Investment, echoed the significance of ethical corporate governance as a crucial foundation for diversification and economic transformation.
Furthermore, Dr. Ernest Ndukwe, Chairman of MTN Nigeria Communications Plc, emphasised the pivotal role of corporate governance in shaping businesses and the government, underscoring the shift to diversification as a key to achieving equitable income distribution and a more resilient nation.
He stressed the need to explore potential in sectors such as agriculture, manufacturing, technology, and services, leveraging Nigeria’s comparative advantages to foster innovation and global competitiveness.
Ndukwe also highlighted the importance of inclusive, merit-based recruitment practices and investment in continuous learning, citing Nigeria’s youthful population as a reservoir of talent and entrepreneurship.
The assurances from the Minister and industry experts signal a concerted effort to prioritize the welfare of Nigerians amidst ongoing economic reforms, underscoring the imperative of sound corporate governance in driving sustainable growth and development.
