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FG Unveils Economy Recovery Plan

Kemi Adeosun economy plan

By Dipo Olowookere

Minister of Finance, Mrs Kemi Adeosun, says the Federal Government has mapped out strategies to get the Nigerian economy out of recession.

Mrs Adeosun, while addressing newsmen on Wednesday after the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari, declared that the FG was not confused about how to get the nation out of the woods.

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Though she admitted that the country was presently in the worst possible time, but the Minister stressed that the government was extremely focused and working hard to revamp the economy.

Mrs Adeosun assured Nigerians that these tough times would soon be a thing of the past, urging them to bear with the administration of President Buhari.

The Minister, however, insisted that the Nigerian economy could not grow if the country continues to rely on oil whose price and production remain low.

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She harped on the importance of growing other sectors at these tough times so as to get out of the woods.

“We must make sure that we diversify our economy. There are too many of us to keep on relying on oil. We knew what happened at the output data of the oil and gas sector.

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“What’s happening in the Niger Delta has dragged down the GDP of the entire economy. We’re too dependent on oil whereas, 87 percent of our GDP is non-oil. So, let us drive those other areas. We have to invest in capital projects,” Mrs Adeosun said.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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