The Minister of Finance, Mrs. Kemi Adeosun, on Friday said that over N1trn had been released by the government for the implementation of various capital projects across the country.
She said this during a courtesy visit to her office by the United States Ambassador to Nigeria, Mr. Stuart Symington.
She emphasised the importance of investment in infrastructure, noting that the lack of adequate investment in infrastructure had been the bane of the Nigerian economy in the past.
The minister in a statement issued by her Media Adviser, Mr. Festus Akanbi, noted that the low investment in infrastructure in the past is currently being corrected by the present administration.
The statement read in part, “Over N1trn has been released for various infrastructure projects across the country. She emphasised the critical role of power on job and wealth creation.
“The minister further explained that investment in public infrastructure will begin to attract private sector funding which will enable diversification and growth in priority areas like agriculture and housing.”
She reaffirmed the commitment of the administration of President Muhammadu Buhari to return the economy to the path of sustainable growth having weathered the storm of a difficult macroeconomic environment over the years.
Adeosun said in spite of the oil price shock and drop in production volumes, the Federal Government had succeeded in utilising the situation to reposition the Nigerian economy.
The US Ambassador, in his response, stressed the central role of the Federal Ministry of Finance to the ongoing effort to turn the Nigerian economy around and commended the efforts of the Buhari’s administration in that regards.
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