Nigeria’s macroeconomic environment is now stable and conducive for investments, according to the Minister of Finance and Coordinating Minister for the Economy, Wale Edun. Speaking at the 2024 National Council on Finance and Economic Development (NACOFED) conference held in Bauchi on Monday, Edun emphasized that the government’s economic reforms have set the stage for industrialization and poverty reduction.
“The President has stabilized the economy and created a clear path for private and foreign investments,” Edun stated. He highlighted that the removal of the fuel subsidy and foreign exchange subsidy, which previously drained 5% of GDP annually, has redirected resources toward broader national development.
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Edun assured Nigerians of a more sustainable and investor-friendly environment, adding that reforms in the petroleum refining sector are fostering local production and positioning Nigeria for industrial growth.
Bauchi State Governor Bala Mohammed, hosting the conference for the first time in 17 years, lauded the event as a platform for collaboration to address Nigeria’s economic challenges and unlock opportunities. He encouraged participants to contribute meaningfully to advancing the nation’s financial and economic landscape.
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