The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reaffirmed the administration’s commitment to minimizing borrowing by optimizing national assets and enhancing resource mobilization.
Speaking virtually at a high-level interactive session in Abuja, which included key Senate committee members and top government officials, Edun emphasized the importance of aligning fiscal policies with monetary policies under President Bola Tinubu’s administration.
“Our primary goal is to ensure that fiscal policies remain strong, consistent, and in sync with the Central Bank of Nigeria’s (CBN) monetary policy while maximizing national interests,” he stated.
He further stressed that financial sustainability hinges on a vibrant private sector, adding that collaboration between the executive, legislature, judiciary, and private investors would drive economic stability.
To achieve this, Edun highlighted the need for transparency in budgeting, reducing waste in public finance management, and leveraging assets instead of resorting to expensive borrowing from commercial markets.
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“This optimization will reduce reliance on borrowing. Instead, we will focus on leveraging assets and attracting private sector investments, both domestic and foreign,” he explained.
Expressing optimism about the country’s economic direction, the finance minister stated that, with the right policies and collaboration, Nigeria could lift millions out of poverty.
“We must continue to uphold mutual respect, cooperation, and consultation as we navigate our economic reforms under the leadership of President Bola Tinubu,” he concluded.