Kemi Adeosun, Nigeria’s minister of finance, has alluded to the view
in many quarters that the country is in recession. She said this while
briefing Senators on Thursday about measures adopted to bail out the
economy. But she believes the economic challenges facing the country
won’t last long as countermeasures have been put in place by the federal
government to reverse the trend. According to her, the federal
government has released N247.9 billion in the last two months for
capital expenditure while an additional N60 billion will soon follow.
She added that out of the N247.9 billion, N74 billion has been allocated
to works in the last two months, compared to N19 billion the ministry
received for the whole of 2015. Agriculture has received the sum of
N21.9 billion, compared to the N4 billion the ministry got last year.
“We have been extremely disciplined around our spending, we are
investing in essential infrastructure…we are doing everything possible
to avert and to manage the situation which we didn’t create
unfortunately but which we inherited and as a nation must all get out
of,” she said, adding that progress is been made in other sectors as
well.
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