The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says there is no going back on the current administration’s reforms in the forex and oil and gas sectors.
Edun made this known when he received the newly assigned Minister of State for Finance, Doris Uzoka Anitez at the Ministry’s headquarters, on Monday.
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“Nigeria now have a foreign exchange rate that is market based and also a deregulated oil market pricing which are two reforms that are long overdue over many decades that President Tinubu is currently implementing.
“Therefore as co-ordinating minister of economy, we stand on a threshold of a new dawn to implement these reforms and increase productivity, create jobs and reducing poverty and we are glad to have a minister of state that will help in actualizing the President’s reforms,” he said.
According to him, consultation and collaboration is key to achieving these key reforms both from public and private sector, stressing that ongoing economic policies are showing sustainability and sign of success.
The Minister of State for Finance, in her response, restated her commitment to work with stakeholders in both private and public sectors to ensure economic growth is materialized.
In other news, the Chinese government has opened up about looking at additional ways to boost the economy, Finance Minister Lan Fo’an said Saturday, but he stopped short of unveiling a major new stimulus plan that analysts and stock investors were hoping for.
Lan’s remarks left the door open for such a plan in the future but he did not divulge what is under consideration.
“There are other policy tools that are being discussed that are still in the pipeline,” he said at a news conference, adding that there is “ample room” in the government budget to raise debt and increase the deficit.
