Minister of Finance, Wale Edun and the Central Bank Governor, Yemi Cardoso have wooed foreign investors at the ongoing Annual Meeting of the World Bank in Washington D.C.
They both told Diasporans and would-be investors of the good turns of economic policies and its attendants effects associated with the country since the commencement of the administration at a Session of Meeting held at The Willard Hotels, Washington D.C.
The Minister stated that their efforts aim at maintaining financial consistency, emphasizing that this is why the newly appointed team at the Nigerian National Petroleum Commission (NNPC) has been tasked with boosting production and reducing expenses.
Edun noted that the admistration is diversifying the economy, assuring of stabilizing the economy in order for the private sector to invest in.
This was just as he stated that optimization of asset is another route to closing the gap in the budget.
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We must guarantee that we keep our financial alignment consistent. NNPC’s mission is to boost output and reduce expenses. Additionally, we are working on diversifying the economy.
We are dedicated to stabilizing the economy to make it appealing for the private sector to invest.
“Another way to bridge the budget deficit is through optimizing assets. The government upholds the integrity of contracts,” he stated.
The CBN Governor also mentioned that the challenging reforms implemented have started producing positive outcomes, noting further that the nation has managed to stabilize its macroeconomic conditions.
He reassured the nation that they would not let up on their efforts despite having faced a crisis lasting the past 18 months.
Cardoso mentioned that these initiatives are primarily aimed at fostering confidence and trust.
The challenging reforms initiated are starting to yield positive outcomes. We’ve managed to stabilize the macroeconomic situation. Recently, Fitch upgraded our status. There is no question that we are currently experiencing an era marked by increased uncertainty.
For the last 18 months during a time of crisis, our approach has been to dive into action and guarantee that we develop a more robust economy, enhancing both resilience and capability for individuals and institutions alike.
This revolves around fostering confidence and trust while steering towards greater self-assurance and optimism for the betterment of Nigeria.
If we continue in the direction so far, we will achieve our set goals,” he said.
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