Wednesday, August 31, 2016

It's A Difficult Time For Nigeria, But I Think We Are In The Right Hands – Finance Minister

The Minister of Finance, Kemi Adeosun, on Wednesday declared that the Nigerian economy is not in confusion.

Noting that the Nigeria economy has been heading to recession in the past six years, she however said that the economy is presently in the right hands.

She spoke with State House correspondents at the end of the Federal Executive Council (FEC) meeting presided by President Muhammadu Buhari.

Adeosun was accompanied to the briefing by the Ministers of Agriculture, Audu Ogbeh; Mines and Steel Development, Kayode Fayemi; Information, Lai Mohammed and Education, Adamu Adamu.

Responding to questions on the new economic statistics released by the National Bureau of Statistics (NBS), she said: “It’s the worst possible time for us. Are we confused? Absolutely not. How are we going to get ourselves out of this recession. One, we must make sure that we diversify our economy. There are too many of us to keep on relying on oil.

“We can see what happened at the output data of the oil and gas sector. What’s happening in the Niger delta has dragged down the GDP of the entire economy. We’re too dependent on oil whereas 87 percent of our GDP is oil. So let us drive those other areas.

“We have to invest in capital projects. No, we are not confused, the time is confusing but we are not confused. We are extremely focused. We know that if we can just bare and get through this difficult period, Nigeria is going to be better for it.

“If we rely on oil and the price of oil remains low and the quantity of oil remains low, we can’t grow. We have to grow our non-oil economy. I think we that we have a long way to go.

“We’re not confused and we’re not deceiving ourselves that everything is rosy. It’s not. It’s a difficult time for Nigeria but I think Nigeria is in the right hands and if we can stick with our strategy. We still have some adjustments to make. I think we need to make some adjustments in monetary policy. It’s quite clear we do and we will do that. We’re working on that. We need to try and find a way to support the manufacturing sector better and we will do that.” She added


  1. Right time? Even ladun has stopped hive aways

  2. idiot,fool,with ur smelling pussy which right hands is dis werey. Talkg abt

  3. Replies
    1. It is well, even inside the well abi?

  4. Right hands my foot, you lot are a bunch of confused human beings except Fashola @least light has improved sort of. Mtschewwwwwwww, to think of what most Nigerians went through during the election to vote buhari in. Thank God I ddnt vote sha, if not na curse i go dey curse una every mid night.

  5. This is the change Nigerians voted for.
    Everyday clueless Government officials open their mouth to utter rubbish.
    They blame everybody and everything under the sun for the ineptitude / incompetence.
    They have no solution offer.
    This is a shambolic, wayo-wayo, one-chance government of deceit and utter chaos.
    All available indices (forex rate, food prices, unemployment, hunger, crime, etc) confirms the failures of this government on all fronts.
    I am eagerly awaiting the next election to vote out these Vagabonds in Power (VIP).