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Tag: Wale Edun

  • Edun: Fed Govt to settle pension arrears before Dec 31

    Edun: Fed Govt to settle pension arrears before Dec 31

    • N22b paid already

    The Federal Government has promised to settle the N88 billion budgeted for pension arrears in 2024.

    Minister of Finance and Coordinating Minister of the Economy, Wale Edun made the promise in Abuja yesterday when hundreds of retirees from the Contributory Pension Scheme (CPS) stormed the headquarters of the Federal Ministry of Finance, protesting prolonged delays in pension arrears payments.

    The retirees, frustrated by the lack of action, blocked the ministry’s main entrance, insisting that the minister must speak with them.

    Edun said from the N88 billion budgeted for pension arrears in 2024, N22 billion has already been paid, saying that the balance would be disbursed by year’s end.

    He said payments would commence next week.

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    He attributed the pension backlog to issues within the older pension system and assured them that the federal government is committed to resolving the delay.

     “There has been a committee under the Head of Service which has met with the Minister of Budget and myself. We have a plan for dealing with the backlog under the Contributory Pension Scheme,” he stated.

    For a long-term solution, Edun disclosed that the government is considering raising funds through the capital market to address the backlog fully. “We’re working on a viable solution using the financial market to take care of the huge backlog under the Contributory Pension Scheme,” he said.

    Earlier, the National Chairman of the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS), Sylva Nwaiwu expressed concerns on the lack of responses from the ministry, despite repeated letters.

    He emphasized the union’s demand for a consequential pension adjustment following the 2024 National Minimum Wage Act, with a call for a N32,000 pension increment.

  • Tinubu’s bold reforms will usher in new economic era, says Edun

    Tinubu’s bold reforms will usher in new economic era, says Edun

    President Bola Ahmed Tinubu has been hailed as the first  leader in decades to implement critical economic reforms that were long overdue.

    This commendation was made by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, when he welcomed  the Minister of State, Dr. Doris Uzoka Anite, to the ministry.

    Edun noted the significance of the President’s twin reforms—introducing a market-based foreign exchange rate and deregulating the pricing of petroleum products.

     According to  him, these measures reflect Tinubu’s exceptional courage, boldness, and political acumen.

    “We now have, for the first time in decades, a foreign exchange rate that is market-based, and market pricing for petroleum products,” Edun said.

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    “These reforms were necessary, long overdue, and President Tinubu had the determination to implement them and ensure their continuity.”

    Stating the anticipated benefits, Edun expressed optimism about  the nation’s economic prospects.

    “We are standing on the threshold of a new dawn,” he noted. “These reforms will enhance our economy’s ability to attract investment, increase productivity, grow GDP, create jobs, and reduce poverty.”

    Welcoming Dr. Uzoka Anite, Edun assured her of full support and collaboration from the ministry. He noted the administration’s commitment to teamwork and consultation, inspired by President Tinubu’s leadership philosophy.

    Replying, Dr. Uzoka Anite expressed gratitude for the opportunity to serve and expressed her readiness to support Edun in achieving the government’s economic objectives. Reflecting on her previous collaborations with Tinubu, she appreciated his vision and acknowledged the significant responsibility that comes with her new role.

  • Govt gives nine-month ultimatum to deposit dollars, others in banks

    Govt gives nine-month ultimatum to deposit dollars, others in banks

    Do you have foreign currencies, especially dollars, outside the banking system?

    If yes, you have a grace period of nine months to deposit them in the bank without facing penalties, taxes or questioning.

    This measure is one of the main aspects of a new scheme to resolve the country’s long-standing foreign exchange (forex) crisis.

    The scheme was unveiled by Minister of Finance and Coordinating Minister of the Economy Wale Edun yesterday in Abuja.

    The initiative, announced under the Foreign Currency Voluntary Disclosure, Depositing, Repatriation, and Investment Scheme, became effective yesterday.

    Edun explained that the scheme was primarily designed to enhance transparency in the financial sector and boost Nigeria’s economic resilience, adding that it would also attract substantial foreign currency inflows, thus strengthening the nation’s financial stability and enabling productive investments in Nigeria’s economy.

    At the end of the 145th meeting of the National Economic Council (NEC),  Edun told reporters that with the scheme, Nigerians with legitimate foreign exchange holdings to repatriate and invest can do so without restrictions.

    He said the primary condition for participation in the scheme is that the funds must not be proceeds of crime or illicit money.

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    He added that individuals would only need to meet the standard ‘’Know Your Customer’’ (KYC) criteria of banks to qualify.

    According to him, the programme’s objectives are two folds. Firstly, it provides an opportunity for individuals to legitimise their holdings, making them safe and secure. Secondly, it enables the government to inject these funds into the financial system, thereby boosting the country’s reserves and potentially stabilising the exchange rate.

    He said: ‘’The Ministry of Finance will release the programme’s details, followed by guidelines from the Central Bank of Nigerian (CBN). This initiative is expected to encourage compliance with laws and normal business practices, ultimately contributing to Nigeria’s economic growth.

    “There is going to be a release today, details by the federal government through the Ministry of Finance, in conjunction with the Central Bank, a programme, starting today, 31st of October, and lasting nine months, that will allow people to bring in cash that is outside the banking system.

    “They will allow forbearance to bring dollars cash. Let me emphasise once again, it is to bring dollars that they are holding outside the system to be able to bring them in and credit it to their bank accounts, as long as it is not proceeds of crime or illicit money.

    ‘’There will be no penalty, there will be no taxes, there will be no questions.

    “They just meet the normal Know Your Customer criteria of banks and they have an opportunity to bring in those funds, make them safe, make them secure, and make them available through normal, economic activity.

  • Edun: 25 million Nigerians get N25,000 conditional cash transfers

    Edun: 25 million Nigerians get N25,000 conditional cash transfers

    • 11,000 receive N3.5b Consumer Credit facility in last five days

    • 500,000 students take N90b loan

    The social investment programme has expanded its reach to 25 million vulnerable Nigerians from five million households, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said yesterday.

    The programme involves direct cash transfers to individuals on the social register, verified through biometric identification and paid through bank accounts or mobile wallets.

    According to Edun, who spoke with reporters at the State House, Abuja after the 145th meeting of the National Economic Council, the first and second payments have already been made to beneficiaries.

    “There are direct transfers to the people on the social register that has been put together by all levels of government and have been verified.

    “People are paid after they have been uniquely identified biometrically, and they are paid digitally through a bank account or mobile wallet.

    “Those payments have been rolled out. They’ve now reached five million households, 25 million Nigerians, and first and second payments are being made.

    “That process of having a robust social register, where you can reach people directly and help them with payments that allow them to choose what their priority is and go and then deal with that priority, is something that will be ongoing.

    “A society always needs to help its poorest and its most vulnerable because relatively you’re always going to have people who need help,” Edun said.

    To address food affordability, he said the government has introduced a programme allowing millers to import duty-free and levy-free brown rice to bridge the 2.5 million metric tons supply gap.

    He said 600,000 farmers will receive subsidised fertilizer, herbicide, and improved seeds for wheat and rice cultivation.

    Edun also highlighted other initiatives aimed at supporting citizens, including the Consumer Credit Scheme, which has benefited 11,000 individuals with N3.5 billion in the last five days.

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    The credit scheme enables workers to afford essential goods, such as CNG kits to convert cars to cheaper fuel.

    Edun also said the Student Loan Scheme had reached over half a million students, with N90 billion in interest-free loans to institutions disbursed for fees and student upkeep.

    The CNG initiative is also underway, providing cheaper fuel for mass transit and personal vehicles, he said.

    He added that small-scale businesses are being supported with cheap loans at nine per cent interest, up to N1 billion, while micro-enterprises have received N50 billion in grants.

    The minister stressed the government’s commitment to helping its poorest and most vulnerable citizens.

    He said these initiatives demonstrate the administration’s efforts to mitigate the impact of economic challenges on Nigerians, providing a safety net for those in need and promoting economic growth.

    The NEC also yesterday deliberated on the authentication of the National Social Register (NSR) devoid of politics.

    At the post-meeting briefing, Oyo State Governor Seyi Makinde said: “What we’ve done with the social register is to say look, it will not be politicised because when you see us play politics, in the middle of the night we talk to ourselves.

    “When it comes to governance, it is a serious business, because the lives of millions of Nigerians are involved. Getting the correct social register devoid of politics is what we have tried to do.”

  • Edun: Improved oil production will boost FX inflows

    Edun: Improved oil production will boost FX inflows

    By Collins Nweze, Washington DC

    • IMF cuts Nigeria’s economic growth to 2.9%

    Nigeria needs improved oil production to beat forex supply challenges and reduce pressure in the foreign exchange market, Minister of Finance and Coordinating Minister for the Economy, Wale Edun said in the United States yesterday.

    The minister spoke during the G-24 news conference at the ongoing World Bank/IMF Annual Meetings in Washington DC, U.S.

    Edun, who is the 2nd Vice Chair of the G24, said that addressing forex supply issues will be a major step in fixing Nigeria’s forex challenges.

    The minister spoke on a day that the International Monetary Fund (IMF) threw its weight behind Central Bank of Nigeria (CBN’s) monetary tightening measures to tame inflation.

    The IMF, however, downgraded Nigeria’s economy growth this year by two point from 3.1 per cent to 2.9 per cent.

    He said: “The key issue about foreign exchange shortage is supply. As an oil producing country, we just need to get our oil production up, and we will deal with that forex shortage and foreign exchange pressure.

    “Of course, the Western world – the rich countries have effectively defeated inflation and that’s why the interest rates can come down. The governor of the central bank in Nigeria, in context of high inflation is continuing with monetary tightening to tackle inflation.”

    Edun noted that some of the countries reforming their economies, domestically, work on achieving better debt sustainability measures in terms of debt to Gross Domestic Product (GDP) ratio.

    He said, in many of such countries, there could be forex liquidity constraints, particularly foreign exchange in relation to debt, servicing of the foreign and domestic debt.

    The minister said that the IMF is specifically focusing on how to help countries bridge financing gap by ensuring that such countries get their fundamentals right.

    According to him, there is currently reversal in localisation of trade and the issues around corruption limits the opportunities of developing countries for investment and to effectively tackle poverty.

    He said developing countries will continue to ask for improved global financial architecture, more concessionary funding and macro-economic reforms that will lead to better life for their people.

    The G-24 Chairman Ralph Recto, Secretary of Finance, The Philippines, noted that rising geopolitical pressures keep the threat of commodity prices high and elevated interest rates despite the downward inflation trend.

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    He said: “These risks, affect capital flows, fiscal stability and the very survival of economies on the brink. One thing is clear, any slowdown in the global economy due to these realities is bound to hit developing countries the hardest. But while current circumstances have made it more difficult for us to achieve a sustainable and inclusive future by 2030, we believe that it remains possible with the right priorities and concerted international cooperation.”

    Recto said the G-24 will continue to call for a more agile and strong willed IMF and World Bank, calling for heightened development cooperation, scale of support and innovative solutions.

    The G-24 boss said: “We must therefore critically assess if the Bretton Woods system is adapting fast enough to the rapidly changing and increasingly volatile global environment, this end, the G-24 key reforms that will enhance the system’s effectiveness and empower both the IMF and the World Bank Group to better serve their members.”

    Insisting that the IMF must create a new mechanism to support countries with sound fundamentals during liquidity crisis, Rector added: “To meet its vision of eradicating poverty on a livable planet, the World Bank needs more ambitious goals for its concessional and non-concessional windows, commensurate with the challenges of achieving inclusive and sustainable development by 2030.”

    G-24 is a club of finance minister and governors of apex banks in some of the IMF member countries.

    IMF backs CBN policies on inflation

    The IMF gave its backing to the measures taken so far by the apex bank in Nigeria to tackle inflation.

    Speaking during the presentation of the Global Financial Stability Report (GFSR), IMF Deputy Chief of the World Economic Studies Division, Jean-Marc Natal said the IMF is taking steps to ensure that banks are well capitalised and monetary policy framework is sound.

    Senior Financial Sector Specialist at IMF, Caio Ferreira described as appropriate the inflation targeting measure of the CBN, said it will help in reducing rising inflation and keeping exchange rat stable.

    He said that overtime, inflation will come down, and interest rate further normalize in many emerging economies.

    The IMF, however, downgraded Nigeria’s economic growth in 2024 from 3.1 per cent to 2.9 per cent.

    In April, the IMF projected Nigeria’s growth to be 3.3 per cent but lowered its projection to 3.1 per cent in July.

    The Fund, in its Global Economic Outlook report, reduced Nigeria’s growth forecast on the basis of insecurity in oil-producing areas, the impact of floods and lower-than-expected activity in the first half of the year.

    During the report’s presentation, IMF’s Director of Research Department, Pierre-Olivier Gourinchas and IMF Division Chief, Daniel Leigh, acknowledged the impact of flood on the economy.

    They said: “However, notable revisions have taken place beneath the surface since April 2024, with upgrades to the forecast for the U.S. offsetting downgrades to those for other advanced economies, in particular, the largest European countries.

    “Likewise, in emerging market and developing economies, disruptions to production and shipping of commodities – especially oil – conflicts, civil unrest, and extreme weather events have led to downward revisions to the outlook for the Middle East and Central Asia and that for sub-Saharan Africa.

  • Fed Govt scales up social investment program to 20m Nigerians

    Fed Govt scales up social investment program to 20m Nigerians

    The Federal Government’s social investment programme through which cash transfers are made to the vulnerable has now covered 20 million Nigerians.

    Minister of Finance Wale Edun stated this yesterday during a plenary session at the ongoing 30th Nigerian Economic Summit (#NES 30) in Abuja.

    Speaking on the government’s reforms and expenditure priorities, Edun said the programme targets the poorest 60 percent of the population. “Currently, 20 million people, spread across 4 million households, have benefited from the programme, with plans to extend it to 15 million households in the coming months,” he said.

    Edun also noted the government’s interventions in education, with student loans amounting to $239,000 currently being processed. “About 20-30 percent of these loans have already been funded, providing essential support to students,” he added.

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    Additionally, workers are benefiting from consumer credit, enabling them to afford essential items such as household goods and vehicle conversion kits for cleaner fuel.

    In the agricultural sector, Edun reiterated that 1 million small-scale businesses have received grants totaling N75 billion, while larger companies facing foreign exchange challenges have access to loans of N1 billion each at nine percent interest.

    World Bank Country Director Ndiamé Diop commended the government’s efforts in resource management but warned of increasing spending needs due to population growth, urbanization, and climate change.

    “Nigeria’s spending requirements are high and rising, especially in areas like education, healthcare, and infrastructure. Without increasing revenue, the country could face severe financial strain,” Diop cautioned.

    He also advised against relying on debt to finance these needs, describing it as unsustainable in the long run. “If revenue remains low and debt continues to rise, particularly from expensive commercial loans, debt service costs will escalate rapidly, as witnessed in 2022 before the current administration’s reforms,” Diop concluded.

  • Success of SAPZ-1 programme will boost food security, says Edun

    Success of SAPZ-1 programme will boost food security, says Edun

    The success of the Special Agro-industrial Processing Zones (SAPZ-1) Programme is crucial to food security, Minister of Finance Mr. Wale Edun has said.

    He spoke on the need for a successful wet and dry season harvest to address inflation, stabilize the exchange rate and lay the groundwork for future investment, a statement by the Ministry of Finance said.

    Edun explained that the success of the SAPZ-1 programme will directly impact inflation, interest rates, and the overall investment climate, making it a critical component of Nigeria’s broader economic strategy.

    The ministry added that the object is focused  on overcoming bottlenecks and ensuring that all stakeholders align their efforts to meet the ambitious goals of the SAPZ-1 programme.

    With this initiative, Nigeria will modernize its agricultural sector, drive economic growth, and ensure food security for its citizens.

    The success of the SAPZ-1 programme will have far-reaching implications for the nation’s economic stability and prosperity.

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    The SAPZ-1 programme is being implemented in seven states and the Federal Capital Territory (FCT) with the support of international development financiers such as the African Development Bank (AfDB), Islamic Development Bank (IsDB), and the International Fund for Agricultural Development (IFAD).

    Edun noted that while temporary importation of some food items may be necessary in the short term, it should not disrupt ongoing efforts in domestic farming and food processing. Instead, these efforts are intended to ensure food availability while positioning Nigeria for export opportunities.

    He explained that the SAPZ-1 High-Level Implementation Acceleration Dialogue and States Steering/Technical Committee Workshop brought together key stakeholders from state governments, the private sector, and development partners to address implementation challenges and drive progress in agricultural transformation.

    Edun noted the strategic role of the SAPZ-1 programme in transforming Nigeria’s agricultural sector, and stressed the importance of collaboration between the Federal Government and the private sector to achieve increased domestic production, job creation, and poverty alleviation.

    He noted that the private sector is crucial for achieving President Tinubu’s vision of industrialization and sustainable economic growth.

  • Growth in food production will bring down inflation, stabilise exchange rate, says Edun

    Growth in food production will bring down inflation, stabilise exchange rate, says Edun

    The government’s efforts at food production is crucial to economic growth, Finance Minister Wale Edun said yesterday.

    According to him, food is major driver of inflation which  when  made affordable can drop inflation and stabilise the exchange rate.

    He said: “Food is 50% of the Consumer Price Index. In fact, we would say food is the core index, but it has sort of become the non-core because it has become variable, become unpredictable. But you can imagine we have inflation of over 30% as we speak now and it is coming down.

    “You can imagine what a real, successful food production outcome would do to bring down inflation, and that will bring down interest rates, that would strengthen the exchange rate, and it would enable a basis for you, the private sector amongst us here, to invest even more, because it will become affordable to borrow.”

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    Edun spoke yesterday  at the Special Agro-Industrial Processing Zones (SAPZ)-1 High Level Implementation Acceleration Dialogue and State Steering/Technical Committee workshop in Abuja.

    The workshop  was organised by the Federal Ministry of Agriculture and Food Security  in collaboration with Development Financing Institutions (DFIs), including the African Development Bank (AfDB), International Fund for Agricultural Development (IFAD) and the Islamic Development Bank (IsDB).

    Edun expressed confidence that the SAPZ programme will achieve its potential, by driving Nigeria’s agro-industrial development and modernising the economy, adding that the programme is part of President Bola Ahmed Tinubu’s macroeconomic stabilization efforts, which have already shown success in reducing inflation and growing reserves.

    He said: “So it is on the basis of successful production that we can now look at exports  and the support to the trade balance and  to the foreign exchange reserves. But in the initial phase that we are in now, it is all about providing food at affordable prices to Nigerians, but that’s the very short term, and we’re approaching it in a very determined manner.

    “Likewise, let me pivot to the fact that with inflation coming down, with growth returning to the economy, with the reserves growing, with the exchange  stabilising, success is   coming under Mr. President’s macroeconomic, macro-physical stabilisation and immediately, the pivot is to grow the economy and that’s where this SAPZ cannot, must not and definitely, will not in any way disappoint, and they will achieve their potential, because that’s the basis of Nigeria’s agro-industrial effort at modernizing the economy and growing it”, he said

    The minister also highlighted the importance of the oil and gas sector, citing the $10 billion investment by ExxonMobil as an example of growing investor interest. Domestic refining has also returned, providing a range of petrochemical-based raw materials for various industries.

    The SAPZ, supported by  IFAD  and IDB aims to increase agricultural productivity and competitiveness. With implementation already underway in seven states, the programme is expected to create 400,000 direct jobs and 1.6 million indirect jobs.

    Edun emphasised the need for the programme  to deliver on its promise of providing affordable food to Nigerians, supporting exports, trade balance, and foreign exchange reserves. He stressed that achieving these goals would have a profound impact on the economy and improve the lives of the citizens.

     Agriculture and Food Security Minister, Abubakar Kyari said the SAPZ  is expected to revolutionise  the agriculture sector. He said  it was designed to increase food production, create jobs, and stimulate economic growth.

    The programme, which will implement the design, build and operate (DBO) model, is projected to yield significant benefits, including the creation of 500,000 direct and indirect jobs within programme operations, and 2.5 million temporary jobs along infrastructure development and related services.

    Additionally, the SAPZ programme aims to improve food security by adding metric tons of food to the nation’s food basket. Staple crop yields are expected to increase by 50 to 100%, up from current levels of 5 to 10%. Post-harvest losses will also be reduced from 45% to 20%.

    According to Kyari, the SAPZ programme is a cornerstone of President Bola Ahmed Tinubu’s agenda for food security, agro-industrialisation  and inclusive economic growth.

    “As a country, we are at a pivotal moment and the decisions we take today and tomorrow will determine the success of this initiative”, he added.

    The Director General of the Nigeria Country Department at the African Development Bank (AfDB),  Dr. Abdul Kamara, called for strengthened efforts to accelerate the implementation of the Special Agro-Industrial Ecosystem Zones (SAPZ)  in Nigeria.

    Dr. Kamara emphasised the transformative potential of the SAPZ  to boost Nigeria’s rural economy and advance industrialisation.

    He acknowledged the commitment of the Federal Government and various international development partners, including the AfDB and IFAD, in financing the first phase of the programme, which amounts to $538 million.

    He highlighted the programme’s focus on climate-adapted infrastructure, agricultural productivity, enterprise development, and job creation.

    “The SAPZ has the potential to create 400,000 direct and indirect jobs, particularly for youth and women, and reduce post-harvest losses from 50% to between 10% and 20%”, he noted.

    Noting that Phase One of the programme, launched in December 2021, covers seven  states—Cross River, Imo, Kano, Kaduna, Kwara, Ogun, and Oyo and the Federal Capital Territory (FCT). He said about 1.5 million households are expected to benefit directly from the initiative, which targets agri-businesses, smallholder farmers and agripreneurs.

    He also cited Ethiopia’s success in agricultural transformation through similar programmes, expressing confidence that Nigeria can achieve self-sufficiency in key crops and boost agricultural exports.

     “We must move towards value addition and wealth creation, and the SAPZ is the answer to that”, he stated.

    The AfDB and its partners remain committed to supporting Nigeria’s agricultural transformation, with plans for Phase Two of the programme  in development.

     Dr. Kamara encouraged stronger partnerships with the private sector to ensure the successful implementation of the SAPZ , which aims to unlock the nation’s competitive advantage in agriculture and contribute to national and regional economic growth.

    In her remarks, Country Director of International Fund for Agricultural Development (IFAD), Dede Ekoue, expressed its strong commitment to supporting the Special Agro-Industrial Processing Zones 1 (SAPZ 1).

    Ekoue also recognised the active role of  Governors of Kano and Ogun states, which are pivotal partners in the SAPZ initiative.

    Highlighting the efforts in Kano, she said IFAD is currently working with the state government on an accelerated pilot project aimed at boosting rice and tomato farming while improving the connection between farmers and off-takers.

    This effort, she said, has resulted in the signing of off-take contracts, which mark significant progress for the agricultural sector.

    In collaboration with the Islamic Development Bank, she said IFAD has also prioritised the procurement of agricultural inputs for farmers participating in the pilot program.

     Ekoue stressed that key actions such as strengthening coordination, enhancing technical capacity, and ensuring adherence to fiduciary and human resource guidelines are crucial for the successful implementation of SAPZ 1.

    “IFAD remains dedicated to supporting Ogun State, with ongoing discussions about finalising loan agreements that will kickstart SAPZ implementation”, she said.

    The Senior Special Adviser to the President on Industrialisation, Prof  Banji Oyelaran-Oyeyinka  expressed concern that the country has not succeeded to achieve neither the green revolution nor the industrial revolution.

    Oyelaran-Oyeyinka lamented that agriculture is characterized with  low yield, a situation where he said Europeans exited many years ago.

    “When you have all the right factors, mechanisation, high yielding varieties, fertiliser, human skills and all of that combined, you don’t need a whole army of people on the farm.

    “Nigeria can indeed double its GDP in the next 10 years, and this is why we identify the special industrial processing zone”, he said.

  • BREAKING: FEC approves establishment of Disaster Relief Fund

    BREAKING: FEC approves establishment of Disaster Relief Fund

    The Federal Executive Council (FEC) approved the establishment of a Disaster Management Fund.

    This was disclosed to journalists on Monday by Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the State House, Abuja, after the Federal Executive Council (FEC) meeting presided over by President Bola Ahmed Tinubu.

    According to the minister, in this era of climate change, no matter the prevention measures in place, disasters will still occur.

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    He emphasized the importance of pooling funds from various sectors and being prepared when disasters strike.

    Edun also revealed that the council passed the Economic Stabilization Bill, which is largely based on the recommendations of the Fiscal Policy and Tax Reform Committee.

    He explained that this bill is aimed at implementing the committee’s recommendations, including proposed amendments to the Companies Income Tax.

    Details shortly…

  • Edun speaks at Access Bank’s forum

    Edun speaks at Access Bank’s forum

    Minister of Finance and the Coordinating Minister for the Economy, Mr Wale Edun will on Thursday take a cursory look at the economy and ongoing strategic initiatives aimed at stimulating growths across key sectors.

    Edun will speak to business leaders and finance experts at Access Bank’s Corporate Customer Forum 2024, which is scheduled for Thursday  at Eko Hotels, Victoria, Island, Lagos. The theme of the event is: “Nigeria’s Economic rebirth: Hopes and implications”.

    Edun, who led the country to its first-ever domestic dollar bond issuance, a hugely successful issue, and also providing the guidance for the game-changing sale of crude oil and products in naira, will speak to the bank’s corporate and commercial business customers about the future of the Nigerian economy while addressing current economic challenges.

    Group Managing Director, Access Bank, Rosevelt Ogbonna,  said the corporate forum would serve as a key platform for thought leadership and knowledge exchange, aiming to inspire new ideas and foster collaboration across various industries.

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    According to him, the forum will focus on the dynamic intersection of growth and innovation, exploring how businesses can leverage technological advancements, sustainable practices, and inclusive strategies to thrive in today’s rapidly evolving business landscape.

    “We are excited to host the Access Bank Corporate Customers Forum 2024, which promises to be a milestone event for our partners, clients, and the broader business community.

    “In a world of constant change, it is vital that we come together to share insights, challenge assumptions, and explore new opportunities. Our theme, “Nigeria’s Economic rebirth: Hopes and implications”, reflects our commitment to not only adapting to change but also leading it.

    “The forum will feature the Honorable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, Managing Director, Financial Derivatives company, Bismarck Rewane, Director General, Federal Budget office, Dr. Tanimu Yakubu and a distinguished lineup of speakers, renowned industry experts, thought leaders, and senior executives from Access Bank.  Attendees should expect engaging panel discussions, keynote presentations, and networking opportunities designed to inspire dialogue and collaboration.

    “Key topics to be covered at the forum include: Lead Paper: Accelerated Stabilization and Advancement Plan (ASAP) for Nigeria’s Economic Rebirth, Co-Lead Paper: Making the Accelerated Stabilization Advancement Plan Deliver Economic Growth for Nigeria and more,” Ogbonna said.

    The Access Bank Corporate Forum 2024 is strictly by invitation for business leaders, entrepreneurs, policymakers, and other stakeholders who are interested in the future of the financial industry and economic development.