FG focused on economic diversification, says Ahmed

FG focused on economic diversification, says Ahmed

Minister of Finance, Zainab Ahmed

The Minister of Finance, Zainab Ahmed, has said the Federal Government will not lose focus on diversifying Nigeria’s economy from oil to other sustainable sectors like agriculture.

She stated this on Tuesday at the ongoing 24th Nigerian Economic Summit in Abuja.

Ahmed, who spoke on the topic; “Sustainable Economic Opportunities” said despite the rise in crude oil price at the international market, the Federal Government was committed to diversifying the economy by growing agriculture and other sectors.

She said, “We are not shifting our attention away from diversifying the economy, from growing agriculture, mining, as well as ensuring that the right infrastructure are put in place to support businesses.

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“What happens in the oil industry is not within our control, the price may go up today and it could go low again, and also it is predisposed to destruction.

“So what happens if production goes down, so we are not losing sight of the fact that we need to stay and focus on growing other sectors of the economy.”

The minister stressed the need to shift attention away from oil and gas, adding that government was investing revenues from oil into other sectors of the economy that were more sustainable.

The minister also said government in its Economic Recovery and Growth Plan (ERGP), had mapped out some clear target on what it planned to achieve in the economy.

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She said that government had plans to concession the four major airports in the country, adding that construction of some major road projects across the country were also ongoing.

The minister said the government was also looking at how to bring in private capital financing to match its funding to grow other sectors of the economy.