The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, says President Bola Tinubu is working hard to lift millions of Nigerians out of poverty. He spoke at the opening ceremony of the 2024 National Council on Finance and Economic Development (NACOFED) conference in Bauchi on Monday.
According to Edun, the president is putting in place plans and policies to make life better for Nigerians. Tinubu’s administration is focused on stabilizing the economy, creating jobs, and encouraging investments.
One of the key steps taken by the government is removing fuel and foreign exchange subsidies. Edun said these subsidies only benefited a small group of people, leaving most Nigerians without any gain. By stopping the subsidies, the government has saved money that will now be used for important things like education, healthcare, and infrastructure.
The government is also working to attract both local and international investors. These investments will help industries grow, create more jobs, and boost the economy.
A major focus is on refining crude oil locally. Instead of sending crude oil abroad, it is now being refined in Nigeria. This means the country can produce petroleum products and materials for industries right here at home.
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Edun assured Nigerians that the country’s economy is now more stable and friendly for businesses. He encouraged investors to take advantage of the better environment to produce goods for Nigerians and even export them to other countries.
The Bauchi State Governor, Bala Mohammed, praised the government’s efforts to fix the economy. He said hosting the NACOFED conference was an honor and a chance for everyone to work together for Nigeria’s progress.
The theme of the conference was:
“Fostering Economic Growth in Challenging Times: Strategies for Policies and Partnership for Fiscal Sustainability & National Development.” The event focused on finding solutions to Nigeria’s economic challenges through teamwork.