By Elizabeth Christopher
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has called for greater private sector involvement and underscored the importance of public-private partnerships in key sectors like mining, power, and agriculture to enhance the economy for the future.
The Minister disclosed this in his keynote address at Access Bank’s Corporate Customer Forum 2024, held in Lagos, Southwest Nigeria.
Mr. Edun stated that key reforms introduced by President Bola Ahmed Tinubu’s administration have helped stabilise the nation’s economy, reduce poverty, and foster sustainable development.
“This renewed emphasis on collaboration and private investment is expected to drive economic progress, create jobs, and reduce poverty—a vision that aligns with the federal government’s shift towards leveraging domestic resources and internal revenue generation.”
He added that encouraging signs of economic progress, including improvements in GDP growth, stabilised exchange rates, and increased government revenue, indicate that the nation is on the right track.
However, he acknowledged ongoing challenges such as inflation and foreign exchange pressures, assuring that initiatives like the Accelerated Stabilization and Advancement Program (ASAP) are being implemented to address these issues.
The Minister also detailed plans to boost agricultural production, including a program to support 360,000 farmers, aiming for a yield of 1.4 million metric tons of key crops.
The event, themed “Nigeria’s Economic Rebirth: Hopes and Implications,” brought together stakeholders from various sectors to discuss the country’s growth prospects. The forum also highlighted Access Bank’s sustainability initiatives, including its commitment to green projects and recent expansion into Kenya.
He commended Access Bank for facilitating crucial discussions on leveraging technology, adopting sustainable practices, and promoting inclusivity to drive Nigeria’s economic progress. “Leveraging technology, adopting sustainable practices, and promoting inclusivity will be crucial in driving Nigeria’s economic progress. It will also maximize resources, provide opportunities for job creation, and ultimately pave the way for Nigeria’s economic transformation.”
Mr. Edun reiterated the importance of addressing ongoing challenges, such as inflation and foreign exchange pressures, and assured that initiatives like the Accelerated Stabilization and Advancement Program (ASAP) are being implemented to tackle these issues. He also detailed plans to support agricultural production, which includes a program for 360,000 farmers aiming for a yield of 1.4 million metric tons of key crops.
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