Minister of Finance Kemi Adeosun made this statement at a press conference on Thursday in response to calls World Bank President Dr. Jim Yong Kim and the IMF managing director Ms. Christine Lagarde for massive investment in infrastructure for African countries.
According to Adeosun,
“Nigeria is too big to fail and too significant in the region to underperform.
“What we are trying to do is to rewrite Nigeria’s economic story so that we can grow, and to grow we need critical infrastructure like power, transport, housing.
“These are where we are redirecting expenditure from our recurrent where we thought there have been a lot of waste and leakages.
“Government is redirecting spending to capital to create long term value.It’s tough in the short term but the long term benefits will be there for the future generation, we are confident of getting back to growth.
“If we invest in critical infrastructure there will be increased productivity, which will lead to job creation and prosperity for our people and it is very comforting to hear this coming from the highest levels that that is the way to go.
“Government is investing heavily in education and as part of our social intervention programme we aim to engage more young graduates into primary schools because education,I’m sure, we will be soon start seeing improvements in our education indices.”