The Federal Government has dedicated $1billion for the sovereign wealth fund as it set up three commercial courts to try economic offenders

The Minister of Finance, Mr Olusegun Aganga, while delivering a keynote address, on Monday, in Abuja, at the 51st annual conference of Nigeria Economic Society (NES), said that the sovereign wealth fund had three components, which included inter-generational savings for the future; stabilisation fund and infrastructural fund.

The infrastructural fund, he said, would reduce the cost of food, production and invest in infrastructure as well as served as catalyst for local and foreign investors.

The minister said the electricity reform, which was ongoing, would achieve 40,000 mega watts of electricity by the year 2020, adding that in the capital market, measures were being taken to punish capital market abuse.

Aganga, who appeared worried over the low ranking of Nigeria, disclosed that the government was taking the ranking seriously, adding that following this, the government was organising an economic summit next month.

To this effect, he said that the National Economic Management Team (NEMT) had been mandated to deliver on creating inclusive growth meant to create jobs.

The minister explained that the economy had no meaning if a large army of youths were unemployed.

NEMT, he said, had also been mandated to enhance productivity by removing and reducing the economic barriers.

Comments (0)

Show/hide comments

Show/hide comment form

Name

Email

Website

Title

Comment

smaller | bigger

Subscribe via email (registered users only)

I have read and agree to the Terms of Usage.

Add Comment