By Modupe Gbadeyanka
Minister of Finance, Mrs Kemi Adeosun, has assured Nigerians that they would soon begin to see the economy gain shape due to be steps mapped out for this.
Mrs Adeosun said it won’t be long for the country to get out of recession.
According to the Minister, “We have a strategic plan that will take us out of the recession we have found ourselves in; we want to make sure the recession is as short as possible because we do not want a prolonged recession.
“From what we are looking at we do not think that it will be a prolonged recession; we think that some of the initiatives that we are working on will now begin to bear fruits.
“We are on course and are confident that the plan we have put together will work and put the economy back on track.
“It is a long term plan that would reposition the economy so that we do not go into this boom and burst circles that are driven by the oil price.
“The economy has to be more resilient than that so that we do not find ourselves back where we are,” Mrs Adeosun said at a press conference in Abuja on Friday.
She further said the government was looking in the area of agriculture, saying the sector has “received significant funding because of the time sensitivity of agriculture and because of the fact that food prices were rising, we needed to intervene so that we could get food prices down.”
“There is activity resuming on roads, power projects and health projects and we have released money to water resources and solid minerals,” she added.
“There would also be funding of about N60 billion for the Special Intervention Programme and that is very important in putting money into people’s pockets.
“The school feeding programme and the N-Power teachers corps we will cash back today as part of the N350 billion additional release which would take our total capital spending to about N700 billion,” she also said.