Nigeria’s Finance Minister, Wale Edun, has outlined the federal government’s strategy to revitalize the economy while prioritizing citizens’ welfare.
In a recent interview, Edun emphasized the government’s focus on food security, aiming to make nutritious food affordable and accessible by leveraging food reserves and facilitating imports.
The minister believes that reducing food prices will help lower inflation, stabilize the exchange rate, and decrease interest rates.
This improved economic environment is expected to encourage investment, boost productivity, and create jobs, ultimately reducing poverty.
The government is also providing significant financial support to businesses, including an $800 million World Bank loan with a 40-year term at 1% interest.
Additional measures include grants and low-interest loans for small and medium-sized enterprises, import waivers, and tax reliefs to reduce operational costs and support economic growth.
(The Sun)