Financial experts say fixing challenges facing Nigeria’s economy must be the primary responsibility of the newly inaugurated Minister of Finance and Coordinating Minister of the Economy, Olawale Edun.
Nigeria’s fiscal, monetary policy, inflation, unemployment, foreign exchange and debt burden and other economic problems have now become the immediate headaches of Edun following his inauguration on Monday by President Bola Ahmed Tinubu.
The country’s July inflation figure skyrocketed to 24.08 per cent, with N77 trillion debt burden and increased poverty level. Cost of living has also hit harder on Nigerians occasioned by fuel subsidy removal amid foreign exchange crisis.
Meanwhile, President Tinubu, during his speech at the inauguration of his 45-member ministerial cabinet, urged the ministers to address all the challenges facing the country.
“In this moment of abundant promise and peril in equal measure, all of you that have been sworn in have been called to distinguish yourselves. Nigerians are highly expectant of excellence in service delivery, accountability, and transparency,” he said.
Corroborating Tinubu’s charge to the Ministers, experts have urged Edun and his team at the Ministry of Finance and its agencies to fight inflation head-on, poverty, unemployment, and depreciation of the Naira against other currencies.
Speaking with DAILY POST in an interview on Monday, an accounting and financial development Don at Lead City University, Ibadan, Prof Godwin Oyedokun said for the country’s economy to work, the newly inaugurated Minister of Finance must follow the path of ‘business unusual’.
He stated that Edun must ensure equitable distribution of fuel subsidy removal palliative to all Nigerians.
Credit: dailypost.ng
