The Minister of Finance and Co-ordinating Minister of the Economy, Wale Edun, expressed optimism believing the country is on the path to recovery, as Nigeria was heading to economic disaster before President Bola Tinubu came to power in May.
Edun disclosed this on Tuesday during his appearance before the House of Representatives to speak on the state of the economy. He noted that the country’s expenditure before the current administration was wasteful and unsustainable.
Tinubu under his ‘Renewed Hope’ agenda took over power from former president Muhammadu Buhari on May 29, 2023. During his campaign, President Tinubu promised to make Nigeria better but the series of reforms since then, including the removal of the much-debated fuel subsidy, has led to a hike in inflation and the cost of living.
But while acknowledging the hardship in the country, Edun reassured Nigerians of the President’s commitment to making life easier for all.
“Likewise, there have been other benefits that have accrued as a result of the changes that have been made.”
“However, inflation has increased, the cost of living has spiked, and right from the onset, Mr President is committed to making sure that the poorest and the most vulnerable are not left behind. The palliatives, the interventions have been rolled out,” Edu said.