Adeosun Highlights Details Of IMF World Bank Springs Meetings With CBN Governor

Here are some of the Highlights of the Joint Press Briefing of the Minister of Finance, Mrs Kemi Adeosun and the Central Bank of Nigeria CBN Governor, Mr Godwin Emefiele on the sidelines of the 2018 IMF World Bank Springs Meetings.

Here are some of the highlights as posted on Adeosun’s verified Twitter Handle @HMKemiAdeosun.

The @MBuhari Administration has succeeded in building macroeconomic resilience for Nigeria, particularly revising funding mix, rebuilding fiscal buffers, enhancing foreign exchange reserves and focusing on import substitution strategies.

We will continue to efficiently and effectively manage public sector costs and plug leakages, and make sure that every money that is earned comes in and delivers full value to the Nigerian people.

We are refinancing our inherited debt portfolio from short-term Treasury Bills to longer tenured debt, which has resulted in huge savings and reduction in costs of funds for the Government. We will continue along this path.

The @MBuhari Administration has raised Nigeria’s taxpayer base from 13 million in 2015 to 17 million currently.

The sum of US$322,515,931.83 Abacha funds recovered from the Swiss Government and deposited into a special account in @cenbank, has been earmarked for the National Social Safety Nets programme of the Government @NSIP_NG.

At the Briefing @cenbank Governor Godwin Emefiele disclosed that Nigeria’s foreign reserves have now risen to US$47.93 billion.

The CBN Governor and I jointly affirmed that Nigeria’s positive growth outlook will be sustained. We have come a long way from 2015/16. inflation rate is slowing; foreign reserves are rising. And by 2019, Nigeria’s growth will be far more robust than the present level.