Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that President Bola Tinubu has approved an emergency economic plan to stabilize the economy within the next six months.
Gatekeepers News reports that Edun disclosed this during the presentation of his ministry’s performance, a year into President Tinubu’s administration in Abuja, the nation’s capital, on Tuesday.
“A fresh intervention approval from Mr. President today is the economic emergency plan for stabilising the economy and to be implemented over the next six months,” Edun said.
The minister also stated that the government now has enough to clear debts, thanks to the implementation of technological changes and procedures that have substantially increased the country’s revenue.
“What that means is that the government can now pay its way. The government is paying its debt service without resulting in Ways and Means, particularly international debt service,” the minister said.
Edun also highlighted that Nigeria’s economy is experiencing a positive gross domestic product (GDP) growth rate of 2.98 percent, and the agricultural sector is showing marginal growth.
“This growth in agriculture provides the monetary authority with the leverage needed to stabilise foreign exchange (FX) rates,” he said.
