The Federal Government has announced its proactive measures aimed at fostering growth in the real sector as part of a broader strategy to bolster the country’s revenue streams. Wale Edun, who serves as both the Minister of Finance and the Coordinating Minister of the Economy, unveiled the government’s initiatives during a recent podcast hosted by Bruit Costaud in collaboration with Ballard Partners of the U.S.A., held in Abuja.
Edun emphasized the pivotal role of sectors such as mining, agricultural processing, and industry in driving economic expansion, alongside increased investments in the power and gas sectors. Speaking on the podcast platform, he highlighted recent fiscal incentives introduced to stimulate investment in the gas sector, underscoring the government’s commitment to fostering a conducive business environment.
The podcast, attended by prominent figures including the former Minister of Information and Culture, Alhaji Lai Mohammed, who serves as the Managing Partner of Bruit Costard, served as a forum for discussions on strategies for economic advancement and revenue generation.
Edun reiterated the government’s determination to diversify revenue sources, focusing on the non-oil sector and initiatives to enhance tax revenue. He stressed the importance of a robust market infrastructure to facilitate domestic fundraising activities, asserting that a well-functioning market is vital for Nigeria to meet its financial needs efficiently.
Furthermore, Edun outlined plans to attract both domestic and foreign investors by exploring avenues to link and ease foreign currency securities within the Nigerian market.
These announcements underscore the government’s commitment to driving economic growth and resilience beyond traditional oil-dependent revenues. As Nigeria navigates challenges and opportunities in the global economic landscape, these initiatives signal a proactive approach towards sustaining long-term economic stability and prosperity.
Credit: News Agency of Nigeria (NAN)
