Finance Minister Kemi Adeosun has said that Nigeria was already getting out of the economic recession as a result of some positive measures the Federal Government was putting in place.
Adeosun, who spoke with journalists after the closing ceremony of the 2016 National Council of Finance and Economic Development (NACOFED) conference in Abeokuta, the Ogun State capital, said the economic recovery process would be driven by local, state and federal governments.
She disclosed that the recovery plan of the government was to invest more infrastructure and stop wastage in government, stressing: “We are investing more in capital expenditure than we have ever invested. We are sorting out infrastructure, we are stopping wastage and so the sign of recovery is already there.
“We are already getting out of recession because of the actions the Federal Government is taking. If you are in a problem, the day you start to step towards progression, you are already getting out of it.”
The minister, who expressed optimism that the efforts of the government towards diversification of the economy from oil to agriculture and solid minerals were already yielding positive results, further said:
“Agriculture and solid minerals are already starting to grow and so they are responding to our policy initiative and we are expected to continue in that direction.
“Nigeria is getting out of the trouble that we have found ourselves; we are turning things around and I believe everybody is united and this recovery will be driven from the state and local governments.”
She, therefore, urged the finance commissioners from the 36 states and other stakeholders that attended the conference not to see the task of economic recovery as that of the Federal Government alone but rather join hands to save the economy.