Wale Edun has come out to make a rather controversial statement, despite the present economic situation of the country.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the Nigerian economy is experiencing a positive growth rate of 2.99 percent.
This surpasses the 2.3 percent growth seen in the first quarter of 2023.
According to him, the Tinubu administration is on track to lift many Nigerians out of poverty.
Edun stated this during the presentation of his ministry’s performance one year into the administration of President Bola Tinubu in Abuja on Tuesday, May 27.
In addition, he said the improvement in economic growth highlights the effectiveness of President Bola Tinubu’s economic strategy.
Wale noted that agriculture, a critical sector of the economy, is showing marginal growth.
He said the sector’s progress is expected to play a significant role in combating inflation, especially through a favourable wet-season harvest that should stabilize food prices.
Also, he highlighted that, by managing the food price index effectively, the government aims to alleviate one of the major pressure points on inflation.
“This growth in agriculture provides the monetary authority with the leverage needed to stabilise foreign exchange (FX) rates.
Also Read: Nigeria Now Moving To Prosperity, No Longer Bleeding – Tinubu
“By continuing on this path and intensifying our efforts, we are on track to lift many Nigerians out of poverty,” he said.
In addition, Wale Edun indicated that revenue collection has also seen significant improvements.
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