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Saturday, May 07, 2016

FG to inject N350bn quarterly to revamp economy – Adeosun

The Minister of Finance, Mrs. Kemi Adeosun has said that the Federal Government (FG) would from this quarter inject the sum of N350 billion every quarter to revamp the economy, reports ITRealms.

"… We are going to pump N350 billion into the economy in this quarter and we are going to do so every quarter until we stimulate growth,” she said.

Adeosun also said that Nigerians will see growth if spending is on needs, reassuring “We will see growth if we spend money on those things that would create jobs.”

Speaking on Sunrise, a programme on Channels TV, Adeosun was quoted as saying that there is an economic team chaired and managed by the Vice President.

“I am a member. Others include the two ministers in the Budget and National Planning ministry, the Minister of Trade and Investment, the Minister of Information & Culture, Head of the Debt Management Office and the Director General of Budget, among others,” she said, insisting there is an economic team.

Adeosun explained that the current team is just a different structure from having a Coordinating Minister of the Economy (CME), recalling that under the CME system, Budget was under the Ministry of Finance.

“But Budget has now moved to National Planning," she declared, emphasing that the economic blueprint is very clear as they are determined to invest in capital projects to ensure that the economy is diversified.


“We have been talking about diversification since I was a child and we haven’t achieved that,” she said, adding the government is focused on revamping domestic production as part of efforts to diversify the economy.

Chuks Egbuna/GEE
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