As Minister of Finance and Coordinating Minister of Economy, Wale Edun yarn for the 40th annual Conference of the Chartered Institute of Directors for Abuja on Thursday, the government dey plan to diversify the economy well well.
The minister talk say the economy don already diversify, but him dey fear say the money wey dey come from export never reach because oil still dey give us big money.
Him talk say, “A very important part of that na diversification. The economy don diversify as other sectors dey contribute well well. But the wahala be say we never diversify our foreign exchange revenue source.
“So, from all those sectors, whether telecommunications, transport or manufacturing, we never get enough foreign exchange earnings or savings wey go fit give us wetin we need, wey be the positive balance of trade.”
Edun talk say the current government dey ready to provide stable economy. Him talk say the economy go dey grow pass the population growth, inflation go dey low, the exchange rate go dey stable, and interest rate go dey reasonable for people to borrow and invest.
According to the minister, make the money wey dey come from export pass the one wey we dey use import so that we go get foreign exchange wey go help the currency.
He add say foreign investors no too dey reason to invest for Nigeria because inflation don dey rise well for Western countries.
Edun talk say the government fit turn to companies for solutions and investments because investors no too dey ready to put money for Nigeria. Him talk say the government dey look for ways to bring money from our own country.
He talk say the aim to attract investment na to increase productivity, make the economy grow, create jobs, and reduce poverty.
Him talk say, “The government no get money and the money no dey come from outside. Dem no really dey interested and dem dey fight inflation for the Western world, so dem go dey hold interest high, tighten money supply and no fit provide development financing wey we need.
“When we talk about investment and how to bring am into the economy, we no dey talk only about our own investors but about foreign investors, private investment, and plenty other investments wey multilateral organisations no fit offer.
“The big thing na to make our economy, institutions, and how we dey run our companies dey attractive so that people from all over the world wey get money fit invest for ventures wey go bring plenty profit.”
For him own side, former Minister of Finance, Dr Olusegun Aganga talk say Nigeria economy no strong. Him talk say the wahala wey dey the growth of the economy na say dem no dey follow policy well and no dey continue the one wey dem don start.
“The economy na number one priority for any government. For some countries, elections dey won or lost because of the economy. Our economy today dey small. E no dey grow fast and e no dey include everybody.
“E get all the signs wey weak economy dey get; we too dey depend on import, the macroeconomic environment weak, exports of primary products without adding value, and many other wahala,” him yarn.