In a statement on Monday in Abuja, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, voiced his optimism about the nation’s economic trajectory, citing recent reforms by President Bola Tinubu as transformative. Edun made these remarks during the formal reception of Dr. Doris Uzoka-Anite, the newly appointed Minister of State for Finance, as she assumed office at the Ministry of Finance.
Edun lauded President Tinubu’s bold economic policies, notably the removal of the fuel subsidy and the floating of the foreign exchange rate, which he described as overdue reforms. He commended the President for his “courage and boldness” in enacting these measures, which past administrations had hesitated to implement. Edun argued that these reforms are positioning Nigeria for increased investment, job creation, and GDP growth, promising a brighter economic future.
### Key Economic Reforms: A Step Towards Stability and Growth
According to Edun, Nigeria now has, for the first time in decades, a market-based foreign exchange rate and market pricing for petroleum products. These changes, he explained, are already showing positive signs and are essential for attracting foreign investment. He emphasized the need for collective effort to sustain these reforms for the benefit of the economy, highlighting that they mark the beginning of a new economic era for Nigeria.
“All will be well as we go forward together to help complete the ongoing economic reforms which are showing sustainability and signs of success,” Edun said. “We stand on a threshold of a new dawn, enhancing the economy’s ability to attract investment, increase productivity, grow the GDP, create jobs, and reduce poverty.”
### Welcoming Dr. Uzoka-Anite: A New Addition to the Finance Ministry Team
Edun expressed confidence in Dr. Uzoka-Anite’s capabilities and dedication, praising her diligence and commitment to hard work. Describing her as a “woman of elegance, substance, refinement, and diligence,” Edun extended a warm welcome on behalf of the Finance Ministry. He assured her of full support, highlighting the President’s emphasis on “consultation, cooperation, collaboration, and teamwork” as foundational to the Ministry’s success.
He added, “You will be like a duck going to the water,” affirming that Dr. Uzoka-Anite would quickly acclimate to her new role.
###Dr. Uzoka-Anite’s Commitment to Nigeria’s Economic Vision
In her remarks, Dr. Uzoka-Anite acknowledged the challenging task ahead, particularly in a critical sector like finance. Formerly the Minister of Industry, Trade, and Investment, she admitted feeling initial apprehension about her new role. However, she pledged her full support to Edun and the Ministry’s goals, expressing eagerness to contribute to Nigeria’s economic development.
“It’s a big privilege for me to be here to contribute to the development of Nigeria in this crucial sector—the finance sector,” she stated. “I am here to complement the efforts and responsibilities that CME (Coordinating Minister of the Economy) has been handling, particularly since May 29, 2023, when the President assumed office and tasked us with steering the economy towards stability and prosperity.”
Dr. Uzoka-Anite emphasized her commitment to upholding the President’s mandate and vision, reiterating her dedication to collaboration and teamwork. She added, “I look forward to cooperation and collaboration because when we succeed, Nigeria succeeds.”
Edun’s address and Dr. Uzoka-Anite’s pledge reflect a shared commitment to advancing Nigeria’s economic reform agenda. Both ministers expressed optimism that, under Tinubu’s leadership, these reforms would create a more prosperous and resilient Nigeria, ultimately benefiting all citizens.
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