Lawan to IMF: Nigeria on path of growth despite challenges

Senate President Ahmad Lawan has expressed optimism that Nigerian economy is being steered on the path of growth despite the prevailing challenges.

Lawan spoke on Thursday at the Nigeria/International Monetary Fund Article lV Consultation virtual exercise.

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He said the exercise was a “veritable platform to share our experiences on steering our economy on the path of growth, despite challenges.”

Lawan catalogued efforts being made by the Nigerian government at promoting economic growth and reducing poverty in the country.

He told the participants at the virtual exercise that Nigeria had to confront the challenge of limited resources, not just because of unpredictable revenue from oil, but also because of the COVID-19 pandemic.

“The problems have made us improve our efforts in the prudent management of resources, and in transparency and accountability.

“Our focus has been on sustaining investments in infrastructure and utilities, trusting in their capacities to stimulate economic activities, enhance growth, and thereafter improve the people’s standard of living.

“Government has continued with its anti-corruption crusade, aside a pledge to ensure discipline in the public expenditure process.

“Our recent experiences call for further caution in the management of resources, just as it has been another reminder of the need to increase the drive for diversification.”