Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has expressed confidence in the nation’s economic trajectory, projecting a decline in high inflation rates within the next few months. Speaking on Channels Television’s “Politics Today” on Sunday, Edun highlighted the impact of President Bola Tinubu’s economic reforms and policies.
The National Bureau of Statistics recently reported a rise in Nigeria’s inflation rate to 33.20 per cent in March 2024, up from 31.70 per cent in February, with food inflation climbing to 40.01 per cent.
Despite these figures, Edun assured the public that the situation is under control, attributing the positive outlook to the current administration’s strategic measures.
“Mr President has achieved relative growth and stability in his first year in office,” Edun stated.
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“The necessary measures to combat inflation, including higher interest rates to attract foreign currency, have been successful. Inflation is expected to decrease over the coming months.”
Edun emphasized the dual focus on reducing inflation and sustaining economic growth, noting that quarter-by-quarter growth has risen by nearly three per cent annually, surpassing population growth.
“We have the economy moving in the right direction, and we need to maintain this course,” he said.
The minister also underscored the importance of supporting various sectors, including farmers, consumers, and small and medium-sized businesses. He revealed that an economic stabilization plan addressing the needs of large businesses and industries would be presented to President Tinubu on Monday, aiming to foster investment, job creation, and overall economic growth.
