The Nigerian Government has vowed to do everything required to bring Nigeria back to the path of growth with the right support; saying that Nigeria will not fail.
Speaking on the sidelines of the plenary session of the 2016 IMF/World Bank meeting in Washington DC, the Minister of Finance, Mrs Kemi Adeosun stated that “Nigeria is too big to fail and too significant in the region to under perform.”
Adeosun said that the government was determined to rewrite Nigeria’s economic story by growing critical infrastructure like power, transport, housing.
“This is why we are redirecting expenditure from recurrent where we thought there have been a lot of wastages and leakages.
“Redirecting spending to capital to create long term value, is tough in the short term but the long term benefits will be there for the future generation.
“We are confident of getting back to growth with the right support,” she said.
Adeosun said that if we invest in critical infrastructure, there would be increased productivity, which will lead to job creation and prosperity for the people.
Adeosun said that Nigeria have aligned with the views of the IMF and World Bank with regards to inclusive growth, stating that inclusive growth was one of the objectives of this administration to end poverty.
“Government is investing heavily in education and as part of our social intervention programme, we aim to engage more young graduates into teaching in primary schools.
“I am sure that we will soon start seeing improvements in our education indices.
“We are also pumping money into agriculture. We also try to encourage women in agriculture; Women are the key especially in agriculture so we are giving small business loans on agriculture.
“Bank of Industry has assured that it will start disbursing micro loans to women so there is a great focus on women,” she said.