Better Life For Nigerians, Jonathan’s Target – Minister

The Minister of Finance, Mr Olusegun Aganga, says a major priority of President Goodluck Jonathan was to make a difference in the life of an average Nigerian.

Addressing journalists after a closed-door meeting with members of the Nigerian Economic Summit Group in Lagos, Aganga said government had identified three key areas to positively impact on Nigerians.

He listed the areas as sourcing and allocation of capital to critical sectors of the economy, jobs creation and increased national productivity.

The minister said that government would overhaul its policy on small and medium enterprises and focus more on creating enabling environment for better allocation of resources.

He commended the “courageous” banking sector reform being carried out by the Central Bank of Nigeria (CBN).

“Banking reform is necessary and the governor of CBN is courageous in confronting the issue, but in spite of the unintended consequences Nigeria need to move ahead like other jurisdictions,” Aganga said.

He lamented the current low productivity in the country, saying that the economy needed between six and eight per cent annual growth rates to meet economic goals.

The minister said that government was facing challenges of epileptic electricity, multiple taxation, poor revenue base and lack of financial instruments to hedge the volatile oil prices and providing enabling environment for investors.

Earlier, the Director-General of the NESG, Mr Frank Nweke, said that the meeting with the minister was to enable members to understand policy thrust under Aganga’s leadership.

“It was a fine interaction that provided Aganga and the organised private sector opportunity to fellowship and appreciate the commitment of all in growing the economy,” Nweke said.

Nweke, a former Minister of Information, said that NESG members had raised the issues of power, unemployment and national competitiveness with Aganga.