The Minister of Finance, Mrs. Kemi Adeosun, while fielding questions from journalists at the end of a two-day National Council of Finance and Economic Development (NACOFED) conference in Abeokuta, the Ogun State capital, claimed that Nigeria was already walking out of the economic recession due to the pragmatic approaches the Federal Government had taken to reverse the trend.
Adeosun pointed out the nation was already on the road to recovery since the problems had been identified, adding that the recovery plan was to invest more in infrastructure and stop wastage in governance.
“We are investing more in capital expenditure than we have ever invested. We are sorting out infrastructure; we are stopping wastage and so the sign of recovery is already there.”
“We are already getting out of recession because of the actions the Federal Government is taking. If you are in a problem, the day you start to step towards progression, you are already getting out of it; we are getting out of it.”
The Minister explained that agriculture and solid minerals were already starting to grow in response to the government’s policy initiative and it’s expected to continue in that direction.
“Nigeria is getting out of the trouble that we have found ourselves. We are turning things around and I believe everybody is united and everybody that was here (conference) represented the 36 states of Nigeria and this recovery will be driven from the state and local governments,” she added.
The event which took place on Wednesday, September 29, had Commissioners for Finance from the 36 states of the federation attended the conference.
It should be recalled that the Finance Minister had earlier stated that she does not know when the ongoing recession will come to an end.