APC Convention: Edun Credits Tinubu’s Reforms for Growth, Poverty Reduction

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has credited President Bola Tinubu’s ongoing reforms for driving economic growth and helping to reduce poverty in the country.

Edun said this on Friday at the 8th All Progressives Congress National Convention in Abuja, where he delivered a speech on behalf of the members of the Federal Cabinet.

The minister said that the administration’s policies are beginning to stabilise the economy and improve overall confidence, revealing that Nigeria was on track to become a one-trillion-dollar economy.

“There are 31 APC governors now, whereas you started just a little over two and a half years ago with about 21. Mr President, you have made Nigeria a more unified country. And whilst we all believe in democracy, that unity of purpose at this critical time will allow you to lead us and propel us further, particularly in terms of economic gains and reducing poverty.

“You are quoted as saying you inherited the assets and the liabilities of your predecessor in office, and that that is fair enough. But you face the reality. For many years, there was neglect of those economic realities that meant that the economy was going in the wrong direction. We did not have the refining of local crude. We did not have a free market in foreign exchange or even petroleum products, and so on. However, what that meant was that we could not attack poverty, and more and more mouths needed to be fed, and poverty was not reducing.”

Edun added that with the reforms of the president, the broken system is being fixed, saying, “With your courage to act, we have, Mr President, faced the moment of reckoning. We did not continue with a broken system, and you took bold steps to fix it. So, by choosing to act, you chose courage over comfort, you chose reform over delay, and you chose Nigeria and the people of Nigeria over politics. These were not easy decisions, but they were necessary.

“We have built economic foundations, removed distortions, improved the fiscal situation, and rebuilt credibility, both among Nigerians, the women, the youth, the ordinary people, as well as our international partners and investors. The cost of correcting imbalances. And what matters, as he said, is the direction of travel, because now the economy is improving. Growth has strengthened.

“It has doubled from 2% previously before your time to now; the economy is growing at a rate of 4% per annum, which is still not enough. Your target in the medium term is 7%, so that millions of Nigerians can be taken out of poverty in a reasonable time. Stability is returning. Confidence is rebuilding.”

Thirty-one governors, party leaders, and 8,453 delegates are gathered for the 8th APC National Convention being held in Abuja at Eagle Square. They are expected to endorse the party members who will serve as the 25-member National Working Committee.