Exclusive: Finance Minister Edun On How FG Will Solve Economic Hardship, Other Issues
Exclusive: Finance Minister Edun On How FG Will Solve Economic Hardship, Other Issues
In this Channels TV exclusive, the Minister of Finance, Wale Edun, speaks about a wide range of issues including the cost of living, inflation, cash disbursements to households, food security and collaboration with the Central Bank of Nigeria, interest rates and more.
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What are these guys doing? Is giving 25k to households really the way out of fixing the economy?. Economies are not built through the government transferring payments to people to buy basic needs, not even in a kind stiffened with inflation. These shouldn't be priorities on the list. I am even surprised it is at the top of the list. Govt needs to fix the structures to make the private sector produce more to cut down all of the inflationary pressure. And the basic here is security to start with
i will be honest with Africans,
we need to stop receiving a politico practice from outside, take a look at the suitation for the last 5 years and it will help to see the vision of what to do with ourselves in the content of Africa and without this everything their were tell us to do is just to take us back in to their hands because this ideas of technology you were talking about hasn't pretice by you, also first thing we need to do is to growing a food therefore stop receiving an ideal form outside their were only there for they owned interest and the
more u keeps following them and mistakes
I don't actually buy this idea of money supply inflation. The inflation we're getting now is from the removal of oil subsidy and international event as well as lack of confidence in the govt. Ever since the subsidy removal and other cuts e.g education in addition to govt bonds, there's less money in the non-govt sector. The govt need to run a proper deficit linked to job program, linked to public needs and subsidize locally produced food, as well as ramp up oil production. Also guarantee exchange rate risk for those that save in naira instead of exchanging to dollar. This would help in the short term. It's great that the govt is looking inward, all those foreign trips have yielded little. Then reduce the interest rate and stop borrowing to stabilize the naira coz it ain't really working and would just cost the citizens. You can't control money supply if the banks are still lending and inflation is money chasing few goods, we have the opposite right now. Please tell the cbn gov to establish an infrastructure bank for state govt and even the fed to borrow from. Industrial policy. 😭😭
Confused fellow
Expenditure management that makes federal government pay state or local expenditure is contrary to what the government stands for which is democratization of governance. What the government is doing will further federalize Nigeria when we are all clamouring for devolved government.
75k for a house hold Wic consist of 5 persons lol
Una wan still steal again
Na wah oh
The reasons why you struggle to continue telling lies is because your principal was the Jagaban and part of the government which is the most corrupt in the history of Nigeria (The Buhari Government). When he was using bullion vans to move funds to rig elections he never knew he was digging a grave 😂😂😂 for himself. As a MOF what measures can you tell me you have in place now to upscale and sustain an economic policy that can fight inflation 😢 You have none. So, please Edun stop lie lie.
The Federal Government should pay workers of all 36 States and Abuja directly instead of sending their payments through States Governors.
Mr minister, you have nothing to say. Follow the advise of San. Ned. It's high time we're done with the dollar. It's not our currency. Make the naira valuable.
There can’t be viable economic solutions with FGN president Bola Tinubu, throwing Naira – rate to free floats markets.
President Bola Tinubu must cut-down, on frivolities, reduced bloated cabinet size to reduced costs of governance.
Grant of 50000 Naira ia aimed to achieve what exactly?
Great ideals , but we want actions and less talks
These guys must not be taking seriously. We don’t want to pay subsidy on power and petrol but we can pay to 75m people. Nigerians are asking for a country where light is stable, hospitals are equipped and affordable, education is adequately reformed and accessible to the children of the average citizen, access to quality roads and water, and job creation part of what necessities the revamp of our refineries. Your policies are not worthy sir, it is criminality!
All I see Wale Edun doing is reading from economics texts books which cannot take us out from the hardship we found ourselves. This government is full of vampires from the president to the ministers which will make it difficult if not impossible for all he's talking to be achieved. Wale Edun never mentioned anything of the reckless spending of this illegitimate government.
Only Peter Obi and Datti got what it takes to lead this country to greatness and that's HONESTY. As long we have illegitimate president who is not honest to himself, there will be no end of this hardship. Like Betta Edu, all the ministers are waiting for their chance to grab whatever they can ley hand on. All I see Wale Edun doing is reading from a text book. Wale Edun has nothing to offer.
in this case we need to take a look at the vision of what their were creating for the people of Africa does work? what their were creating is a humanities take a look at the vision all their were creating is for their own interest
From the way this man is talking, he's not even a sound Economist. Sir, with due respect, what you're saying is not the solution of the country's inflationary and economic problems.
NOTHING IS GOING TO CHANGE WITH THIS IDEA OF GIVING OUT MONEY TO THE MARSHES.
THIS CURRENT HARDSHIP SITUATION HAS BEEN PLANNING FOR SO LONG AND WE HAVEN'T SEEN NOTHING
THE MONEY THAT SUPPOSED TO USE FOR FIXINGS OUR OWN REFINERY HAS BEEN SPENDING UNNECESSARILY FOR YEARS
Mr edun no Nigerians has received the intervention
Empty and trash talk. Grand scheme to loot the treasury by Tinubu’s cronies, just as buhari and his cronies did for 8yrs.
Insecurity oooooooo!!! Tackle the root cause!
Giving the food inflation rate in the country can the 25,000 put 3square meal on the table for a month? Cash reward to me is over rated
You are sleeping on duty Mr Wale Edun. Please wake up! Tell your boss, the President to be aggressive & ruthless in getting rid of terrorists that have taken over the forests and prevented the farmers from their farms. Nigerians are not lazy. We are self motivated.
The Minister of Finance/ the Coordinating Minister of the economy should be and running as the economic spokesman for the economy . You need to urgently come up with the short term, medium & long-term economic measures and policies with good structures that can rival our aspirational peers.
You need to embark on strategic focus in facilitating without any further delay the establishment of well capitalzed new airline and shipping line to be subscribed by private sector investors through equity or debts. The following could be encouraged to invest immediately:
-insurance companies 10%
-PFA/PFC 10%
-banks 10%
-Nigeria Sovereign Investment Authority ( NSIA) 5%
– other local investors 5%
-AfC & other international investors 5%
-other core investors/ partner 5%
The % of shareholding can be varied
Urgent top level discussion by the President with Flour Millers to moderate their selling price. waivers of import duties and VAT could be explored.
The President should have a top level discussions with Alhaji Dangote & Rabiu of Dangote and Bua to have an understanding of moderated cement price regime. He should remind the cement producers that the country gave them a concessionary exchange rates to import their plants & equipment when they are constructing their factories. The discussions already made by Minister of Works is not necessary & may not carry force.
On agriculture, special production of maize and soybeans should be encouraged & importation should be made to reduce the ever increasing cost of inputs into Poultry business .
We didn't hear anything about crops and farming production. This is February. Farmers in non restive areas of the country SW, SS, SE and parts of the NC, NW and NE can plant in February and reap well between September and October certain food crops. Food crops ought to be distributed to Farmers to augment the Cash Transfer, concerted efforts should be made to reach the OPEC quota, Cost of governance should be reduced by 75 percent across the FG and SGs. Sacrifices should be made by those in governance, Salary should be paid promptly and not owed for many months in some states, Fiscal policy should address taxing of the rich business oligarchs who has been benefiting from the oil sector for decades of which many of you in government who have these businesses are not paying no taxes, Stop the triple dipping from the State and Federal Treasury by former governors, Fiscal policy should Include Federal Audit oversight of FAC to states and774 LGAs. Fiscal reforms should include regulatory oversight of CBN and EFCC , ICPC other than the joint committee of the National Assembly. Ministry of Finance and CBN should have more collaboration. Work ethics should be part of the civil service reform and citizens responsibility to produce as against the welfare system of cash transfer which ought to be Short term targeted. Every citizen will work hard to change our current narrative if there is level playing field and justice, equity and fairness and no WE and THEM society. Rise up Nigeria the greatest black country in the world. Rise up, roll up your sleeves and rise my beloved Country.
What happened to REMITA?
Wow.. Congratulations Mr Edu..your principal administration has made all Nigerians poor and vulnerable.. Same way babuhari.. Did with trader's moni… 25k can't buy water.. You guys are not abreast with the reality, it's a pity it's this all you can offer..what happened to industrialization.. What is the position of Dagote refinery God forbid
Another avenue to embezzle money. How do you even know the vulnerable and poor? Even if you pay the so called vulnerable will this bring down the price of items in the market?
No basic data to carry out this so called palliative. Sure the word palliative is being used to pacify the populace.
God save Nigeria
Baba abeg let us hear word! Where are these grains? Where are they stored? and who are you sharing them to?
Just see a whole Wale Edun slurring his words. Mtchew, a clear indication of a man who ain't got confidence in what he's saying