THE NATION
The Federal Government yesterday painted a positive economic picture of the days ahead.
The policies of the Bola Ahmed Tinubu Administration are yielding fruits, key members of the economic team assured.
Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun, his Budget and National Planning counterpart Atiku Bagudu, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso and Federal Inland Revenue Service (FIRS) Chairman Mr Zacch Adedeji promised an imminent drop in the high cost of living and inflation.
They spoke when they appeared at the sectoral debate organised by the House of Representatives for the finance sector in Abuja.
Edun said it was expected that there would be challenges with the withdrawal of petrol subsidy.
According to him, retaining it would have left the country on the path to economic disaster.
The minister assured that President Tinubu was committed to protecting the poorest and the vulnerable.
Edun stressed the need to increase crude oil production and boost foreign exchange inflow.
He said: “Where we are as a nation economically is a much better place than we were on the 29th of May 2023.
“Before the implementation of the 8-point agenda of the President began, we were in an unsustainable place in terms of the fiscal situation of Nigeria. We were on the road to economic disaster.
“We had expenditure which was wasteful and unsustainable by way of the subsidy.
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