Vice-President Kashim Shettima, on Friday in Abuja, inaugurated the 2024 Nigeria Economic Report, assuring that the ongoing reforms by the government would yield inclusive growth in no distant time.
Mr Shettima, while inaugurating the report at a one-day technical workshop on the 2024 Economic Review at the Presidential Villa, said the policy interventions of President Bola Tinubu’s administration were already yielding positive results.
Represented by Ibrahim Hadejia, deputy chief of staff to the president, Mr Shettima said the report “is a pragmatic synopsis of Tinubu’s bold and impactful strides under the canopy of the Renewed Hope Agenda.
“We are not just compiling statistics but constructing a narrative of economic resilience and strategic transformation.
“Every data point and every analysis represents our commitment to turning the tide of economic challenges into opportunities for national growth.
“We are laying the groundwork for sustainable economic development that will create opportunities for every Nigerian.”
Earlier, Ekperikpe Ekpo, the minister of petroleum resources (gas), said the ministry would drive Nigeria’s economic growth with the abundant gas deposits in the country.
“We have 209 trillion cubic feet of gas. Today, if Nigeria takes advantage of this, we will grow our economy to the level that would be envied.
“Nigeria will take its rightful position in the gas economy in the continent,” he stated.
He urged Nigerians to key into the Compressed Natural Gas (CNG) initiative of the Tinubu’s administration.
“This is cleaner, safer and environment-friendly,” he said pointing out that though the kits may be expensive, there were incentives provided to make them affordable.
Also, Hannatu Musawa, the minister of arts, culture, tourism, and creative economy, noted that Nigeria had an untapped creative industry potential.
Ms Musawa said the ministry was the first of its kind to focus on transforming creative content into economic opportunity.
She stressed that the creative industry represented a critical pathway for economic diversification beyond petroleum.
On his part, Taiwo Oyedele, the chairman, presidential fiscal policy and tax reforms committee, said the tax reform proposals were aimed at transforming Nigeria’s economic landscape.
Mr Oyedele emphasised that the reforms were not just a technical exercise but a commitment to equity, efficiency and economic transformation.
He acknowledged concerns raised by stakeholders, assuring that ongoing engagement would address potential challenges.
Sadiq Wanka, special adviser to the president on power infrastructure, said the foundations of a reinvigorated power sector were being laid.
“The government’s initiatives include increased liberalisation through the Electricity Act, which has decentralised the power sector.
“This allowed states to regulate and develop their own local electricity markets, and the Presidential Metering Initiative aimed at eliminating estimated billing,” he said.
Also, Dr Nurudeen Zauro, technical adviser to the president on economic and financial inclusion, emphasised that “all eight items on the Renewed Hope Agenda are built on inclusion.”
He explained that the government had significantly reduced financial exclusion, established a dedicated office, and signed the Aso Accord to accelerate financial inclusion.
(NAN)