Nigeria already getting out of recession – Finance Minister

The Minister of Finance, Mrs. Kemi Adeosun, has said the country is already getting out of the economic recession, given the pragmatic approaches the Federal Government is taking to reverse the trend.

She said this on Wednesday while fielding questions from journalists at the end of a two-day National Council of Finance and Economic Development conference held at the Green Legacy Resort, Olusegun Obasanjo Presidential Library, Abeokuta.

It was held in conjunction with the Federal Ministry of Finance with the theme: ‘Enhancing revenue generation and obtaining best value for money in expenditure.’

Commissioners of finance from the 36 states across the country were in attendance.

She noted that since the problems have been identified, and steps are already being taken to block waste, the road to recovery was sure.

She said, “We are already getting out of recession because of the actions the Federal Government is taking.

“We are investing more in capital than we have ever invested. We are sorting out infrastructure, we are stopping wastage and so the signs of recovery are already there.”

She explained that agriculture and solid minerals are already starting to grow, as they are responding to government’s policy initiative.

Adeosun said stakeholders from 36 states across the country had brainstormed for two days while resource persons also delivered papers, adding that the economic recovery would be driven at the state and local government levels.

She advised finance commissioners and the accountant-generals in the states to compute their balance sheets, which would show their assets and liabilities.