The Minister of Finance, Wale Edun, has said that the 2024 budget signalled a new direction in the economic landscape of the country, adding that the federal government needs to move out of the way and allow private investors to grow the economy.
Edun, who was speaking on the sidelines of the World Economic Forum (WEF) , told newsmen that the federal government is relying on private investors to help grow the economy, create job opportunities and reduce poverty.
The minister noted that about N300 billion in revenue projection from the private sector has been included in the 2024 budget.
Edun said,
Speaking on the recent investment trips of the government, Edun noted that the most advanced countries are determined to maintain a higher interest rate to battle inflationary pressure, resulting in an expensive debt financing for most emerging economies like Nigeria.
Subsequently, the minister said that this trend has pushed most developing countries to focus on domestic resource mobilization and internally generation of revenue, as opposed to borrowing.
He said,
