Nigeria’s Minister of Finance, Kemi Adeosun says the government has a clear economic strategy. And that is a focus on capital projects.
She says the economy is in its current state because oil revenue wasn’t invested but spent on recurrent expenditure.
In her words, “The NBS statistics are clearly showing that the level of investment has gone up so we are moving away from consumption to investment. So we have to invest in capital [projects]. That is what this administration has said was our economic strategy. No we are not confused. The times are confusing but we are not confused. We are extremely focused”.
She also points out that those criticizing the governments approach to reviving the economy haven’t proffered an alternative.