The Minister of Finance, Mrs. Kemi Adeosun, on Monday said if Nigeria was to achieve sustainable economic growth, it would need a planned approach to financial discipline, targeted investment and economic diversification.
“The government’s economic plan is strong on fiscal discipline, because people know we need to get our country working. And to do that we need to do three things: get the country’s spending in check with firm financial controls, raise money for targeted investment in much needed infrastructure; and see us diversify the economy from a damaging dependence on oil,” Adeosun said in a Channels Television programme, Sunrise.
However, she noted that the state government had a key role to play in diversifying Nigeria’s economy. “We see the states as strong partners in diversifying our economy away from oil and getting Nigeria working again.
“This is one of the key drivers behind the administration’s fiscal sustainability plan with states. It is about improving accountability and transparency, increasing public revenue, effective expenditure, improving public financial management and managing debt sustainably.”
The minister described these measures as a true reform which starts with discipline and ends with diversification of the economy.