Nigeria’s finance minister sees economy growing 7% in next 2-3 years

Kemi Adeosun, Nigeria’s finance minister seeing the country’s economy recovered quickly from a recession, said there are potentialities to achieve a seven percent economic growth in the next two to three years.

The minister disclosed this Tuesday at the 4th Ogun State Investors Forum in Abeokuta, saying the country’s economic outlook for 2018 and beyond was positive.

At the forum, which also had in attendance Yemi Osinbajo, Vice President; Governor Ibikunle Amosun of Ogun State; Felipe Calderone,former Mexican President, and eminent persons and captains of industry, Adeosun said the current administration had succeeded in building macroeconomic resilience for the country through revising the funding mix, rebuilding fiscal buffers, enhancing foreign exchange reserves and focusing on import substitution strategies.

She said: “President Muhammadu Buhari has laid the foundation for the repositioning of the economy with a series of reforms, which are being sequenced to ensure maximum impact and benefits to Nigeria and the citizens.

“These include massive investments in infrastructure and social welfare across the country, improved revenue mobilisation, the rebuilding of foreign reserves and stabilisation of exchange rate.”

“The Nigerian economy had returned to growth in the second quarter of 2017 after five consecutive quarters of negative growth.

“The country exited recession with a growth of 0.72 per cent, which was further consolidated with growths of 1.40 per cent and 1.92 percent in the third and fourth quarters of last year, respectively.”