Key stakeholders in the Nation’s economy, including the Nigerian National Petroleum Company Limited (NNPCL), the Central Bank of Nigeria (CBN), and others, convened in the senate wing of the National Assembly on Monday to discuss the country’s economic outlook.
During the interactive session with the National Assembly joint committees on finance, the stakeholders expressed optimism that the economy is showing signs of recovery.
The Ministers of Finance, Budget and National Planning, Petroleum, and the Group Chief Executive Officer of NNPCL, Melle Kyari, assured the committee that the economy is on the path to recovery.
Kyari highlighted emerging indicators in the energy and gas sector, predicting that Nigeria will become a net exporter of petroleum by December 2024.
He cited the upcoming production at the Port Harcourt, Warri, and Kaduna refineries, which will boost oil production to 2 million barrels per day in the coming months.
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The stakeholders expressed confidence that these developments will revitalize the economy and position Nigeria for growth
The Central Bank of Nigeria Governor, represented by the Deputy Governor (Economic Policy), Sani Abdullahi, expressed optimism that the challenges of rising inflation, foreign exchange rate fluctuations, and food inflation will soon subside, citing emerging indicators.
In his presentation , the Minister of Budget and National Planning, Atiku Bagudu, reported that the 2024 budget is already being implemented and that negotiations with labour leaders on the minimum wage are ongoing to prevent further economic disruptions.
In his remarks chairman senate committee on finance sani mus appealed to Nigerians to persevere, assuring that the government is working tirelessly to stabilize the economy.
The meeting thereafter entered a closed session
(Editor: Paul Akhagbemhe)
