Minister of Finance, Kemi Adeosun, has affirmed that the country’s positive growth would be sustained.

The Minister alongside the CBN Governor, Godwin Emefiele, gave this assurance at a joint press briefing at the end of the 2018 International Monetary Fund and World Bank Spring Meeting in Washington DC, United States.

Mrs. Adeosun expressed satisfaction that the present growth outlook contrasted with the outlook in 2015, noted that inflation rate was slowing down while the foreign reserves were rising.

Bua group

In her words:

“By 2019, the growth will be far more robust than the present level in 2018. We are therefore very optimistic in sustaining Nigeria’s economic growth. We are going to use this opportunity to grow our fiscal buffers, particularly aggressively growing our revenue base.”

VAIDS Deadline

She disclosed that the Voluntary Assets and Income Declaration Scheme (VAIDS) deadline was extended by three months till June 30, 2018, due to the appeals from taxpayers for more time to regularise their tax status.

She revealed that the present Administration has raised the taxpayers’ base from 13 million in 2015 to 17 million as at 2018.

Recovery of Abacha’s loot

The minister confirmed the recovery of the sum of US$322,515,931.83 Abacha funds from the Swiss Government into a special account in the CBN.

The funds, according to her, have been earmarked for the National Social Safety Nets programme of the Government.

On his part, the CBN Governor revealed that the country’s foreign reserves had risen to US$47.93 billion.

Coronation Research

He emphasized on the need to save for the raining day and also continue to grow the foreign reserves.

He assured that concerted efforts were ongoing to realize the 80 percent target for financial inclusion by 2020.


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