Tinubu’s Minister Wale Edun Indirectly Reveals The Last President To Stabilise Nigeria’s Economy

Tinubu’s Minister Wale Edun Indirectly Reveals The Last President To Stabilise Nigeria’s Economy

Olawale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, has stated that the country’s economy was last stable approximately a decade ago.

A decade ago will be around 2013 which falls under the tenure of former President Goodluck Jonathan.

He made these remarks during his first press conference as finance minister in Abuja.

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Edun highlighted that during that period, from 2013 to 2014, Nigeria experienced a stable foreign exchange rate and consistent interest rates. The country also had an adequate foreign exchange reserve, enabling the government to provide funds for investments, importation of raw materials, and machinery.

He pointed out that during this period, Nigeria’s economic growth was around six percent, and the government was earning over $80 billion annually, in contrast to the current annual earnings of approximately $25 billion.

Edun also discussed President Bola Tinubu’s economic vision, agenda, and strategy, acknowledging that Nigeria’s economic growth has been slow, barely outpacing population growth, resulting in challenges such as double-digit inflation, a weak/depreciating exchange rate, and security concerns.