No going back on forex and subsidy reforms — Wale Edun, Finance Minister declares

Wale Edun, Nigeria’s Finance Minister and Coordinating Minister of the Economy, has affirmed the government’s commitment to reforms in the foreign exchange and oil and gas sectors, insisting there will be no reversal of President Bola Tinubu’s economic strategies.

Edun made the statement during a meeting with the newly appointed Minister of State for Finance, Doris Uzoka Anite, at the ministry’s headquarters on Monday, 4th of November 2024.

He said,

“Nigeria now has 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,” Edun said, underscoring the significance of these policies for the nation’s economic direction.

“Therefore, as Coordinating Minister of the Economy, we stand on a threshold of a new dawn to implement these reforms, increase productivity, create jobs, and reduce poverty,” he continued.

“We are glad to have a Minister of State who will help in actualizing the President’s reforms.”

Edun emphasized that achieving these ambitious reforms requires robust collaboration between public and private sectors, pointing out that current economic policies are already showing signs of sustainability and success.

“Consultation and collaboration is key to achieving these key reforms both from the public and private sector,” he added.

Minister of State Doris Uzoka Anite, in response, pledged her dedication to work with stakeholders across both sectors to ensure that Nigeria’s economic growth objectives are realized.

She reiterated her commitment to fostering a cooperative environment to drive economic transformation under President Tinubu’s administration. [CONTINUE READING HERE]>>>>>