The Minister of Finance and Coordinating Minister of the Economy, Dr. Wale Edun, has declared that the road is now clear for private investors to invest the Nigerian economy.
According to the minister, President Bola Tinubu is charting the way to move a lot of Nigerians out of poverty.
He said the President is leaving no stone unturned in order to ensure that life is made easy for Nigerians by coming up with policies and programmes that would be beneficial to all.
The minister said key policies of the Tinubu-led administration have helped to stabilize the economy and created opportunities for investment and development.
Speaking at the opening ceremony of the National Council on Finance and Economic Development (NACOFED) 2024 Conference, hosted in Bauchi on Monday, the minister further stressed that the measures put in place by the government have set the country on a sustainable path towards industrialization and poverty reduction.
He explained that the administration inherited significant economic challenges but wasted no time in addressing them.
Edun added that critical reforms, such as the removal of fuel and foreign exchange subsidies, were implemented to halt an annual economic drain of five percent of GDP.
“These subsidies were benefiting only a few people and neighboring countries, while the majority of Nigerians saw no value from them,” the minister noted.
The savings from the reforms, the minister added, are now being channeled into infrastructure development and essential social services like education and healthcare.
“The Federation Account is already benefiting from increased resource flows to federal, state, and local governments, enabling broader investment opportunities,” he declared.
