The Minister of Finance, Mrs. Kemi Adeosun has assured Nigerians that the Federal Government is doing everything possible to bring the country’s economy out of its present economic hardship.
Speaking at the monthly Federation Account Allocation Committee (FAAC) meeting in Abuja, on Wednesday, the minister announced a set of robust plans to improve the nation’s Gross Domestic Product (GDP).
This is coming just days after the National Bureau of Statistics (NBS) report showed that the nation’s economic recession worsened in the third quarter, with the Gross Domestic Product (GDP) contracting by -2.24%.
On the FGN debt, Adeosun explained that the Muhammadu Buhari led-administration inherited various debt from previous administrations, which are currently under management, adding that the government is set to commence payment of these debt.
“We are working in conjunction with the Central Bank and we have already consulted the National Assembly on what we are doing to solve the problem,” she said.
She pointed out that issues like cash calls, contractor debts, among others, have been discussed within the administration and solutions implemented already.
The Minister further explained that the National Assembly has been duly informed on what the Federal Government proposes to do as she was upbeat that the new fiscal roadmap of the present administration will boost the revenue and the nation’s GDP.
Mrs. Adeosun explained that the National Assembly is being carried along on what the administration proposes to do. She expressed the confidence that the Federal Government’s fiscal roadmap will boost the revenue and the nation’s GDP.
She however warned that there is no short cut to recovery, stating that the government is bent on investing in infrastructure in order to be able to create jobs and boost the economy.