Finance Minister says Nigeria's economy is resilient

The Minister of Finance, Mrs Kemi Adeosun, on Friday, reaffirmed Federal Government’s commitment to return the economy to the path of sustainable growth.

The minister’s Special Assistant, Festus Akanbi, said in a statement that Adeosun made this known when the U.S. Ambassador to Nigeria, Mr Stuart Symington, paid her a visit in Abuja.

Akanbi stated that the minister explained that in spite of the oil price shock and drop in production volumes, Federal Government had succeeded in utilising the situation to reposition the Nigerian economy to the advantage of the nation.

She said the lack of adequate investment in infrastructure had been the bane of the Nigerian economy in the past, noting that the present administration had begun to correct this anomaly.

She added that over N1 trillion had been released for various infrastructure projects across the country and emphasised the critical role of power on job and wealth creation.

The minister further explained that investment in public infrastructure would begin to attract private sector funding which would enable diversification and growth in priority areas like agriculture and housing.

The U.S. ambassador said finance was to growth and prosperity, what oxygen was to life.

He, therefore, stressed the centrality of the Federal Ministry of Finance to the ongoing efforts to turn the Nigerian economy around and commended the efforts of the Buhari administration in that regards.