“Why we are reflating the economy,” says Finance minister

Finance minister, Kemi Adeosun has explained why the Federal Government has decided to reflate the Nigerian economy to cure the current economic recession.

In a recent chat with Pulse, Adeosun disclosed that reflation of the economy by the FG will create more job opportunities and encourage the Nigerian businesses to favourably compete with international counterparts.

She said: “We are trying to reflate the economy and get it back on the period of growth. And the strategy we are adopting is to inject more money and funds into the economy particularly in the area of capital projects. This is because we believe that in doing this we will do two things in the short term.

“One is job creation, better roads and bridges, improvement in power supply and more importantly unlock the productivity of the Nigerian economy by creating infrastructure which we know at the moment is missing,” she said.

Continuing, Adeosun said: “The latter is really the reason why Nigerian businesses are not competitive against their foreign counterparts. We believe that if we invest in the right things we will be able to unlock the growth of our economy in the right direction and get us out of our current situation.”

Adeosun also appealed to Nigerians to help in the restructuring of the nation’s battered economy by patronizing Nigeria made product.

She stressed that if and when Nigerians patronise locally made products, it will help the manufacturers up their game and make them better at what they do, hence, it helps grow the business and the economy.