Nigeria is targeting more than $100 billion in incremental economic value from expanding the country’s credit economy as the government seeks to convert macroeconomic stability into investment, productivity and shared prosperity, Taiwo Oyedele, minister of Finance and coordinating minister of the Economy, has said.
Oyedele disclosed this at the 14th BusinessDay Annual CEO Forum in Lagos, saying making the credit economy work more effectively was one of the key opportunities identified by the government in its plan to achieve a $1 trillion economy by 2030.
“We have identified the growth sectors. We have identified the new economies. We have identified what actions we need to take, by whom, by when, and what incremental value will be created,” he said.
“For example, just making the credit economy work for us will create an incremental increase of more than $100 billion.”
He said the government’s economic transition strategy was built around moving from macroeconomic stabilisation to growth and then shared prosperity.
