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Recession: “The day you start to step towards progression, you are already getting out of it” – Kemi Adeosun

BellaNaija.com

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Minister of Finance, Kemi Adeosun

Minister of Finance, Kemi Adeosun

Kemi Adeosun, the Minister of Finance, on Wednesday said that the nation was already getting out of recession, saying the Federal Government had taken steps that were in the best interest of the citizens.

Adeosun disclosed this in her closing remarks at a two-day conference of National Council of Finance and Economic Development (NACOFED) in Abeokuta.

“We are already getting out of recession because of the actions the Federal Government is taking, if you are in a problem, the day you start to step towards progression, you are already getting out of it.

The government is investing more in capital than we have ever invested, we are sorting out infrastructures, we are stopping wastage and so the sign of recovery is already there.

Agriculture and solid mineral are already starting to grow and so they are responding to our policy initiative and we are expected to continue in that direction.

Nigeria is getting out of the trouble that we have found ourselves, we are turning things around and I believe everybody is united and everybody that was here represented the 36 states,” she said.

Adeosun also urged all the State Commissioners for Finance, Accountant-Generals and all finance professionals to always take stock and also compute their own balance sheet, saying it would assist them before decisions were taken.

She explained that the move would allow the states to know their liabilities, strengths and ways to go about their finances in the future,  adding that it would in no small measure helped the Federal Government.

“We need to take stock, one of the most important thing I want to encourage all to do is to compute your own balance sheet, what are your assets, what are your liability, know your position.

What are those pension liability, contractors liabilities that are hidden, bring them out, compute them, know them, it is very important.

One of those things we have realised in the Federal level is that if that had been done we would have probably made better decisions in the past.

If you don’t have the data you can carry on spending as if all is well only for a problem to come out as it has done in our own case to affect us.

I just want to charge everybody to quietly compute your balance sheet and know it so that you can make decisions that really have the full picture,” she said.

8 Comments

  1. Obi

    September 29, 2016 at 9:18 am

    This is absolutely correct. If the data was well interpreted then better decisions would have been taken and we would have been in a much better situation. Anyways lets alll keep working to ensure that we have the Nigeria of our dreams. We would get there soon and also lets pray and support our amiable Finance Minister. Her job is very difficult and its not easy at all. We can and will do better.

  2. Mondela

    September 29, 2016 at 9:23 am

    This woman should STFU already and stop talking…just like many nigerians,i hate her!!!

    • tunmi

      September 29, 2016 at 2:29 pm

      Why do you hate her?

    • nnenne

      September 29, 2016 at 3:42 pm

      [email protected] Mondela… Try not to hate, dear . It doesn’t change a thing rather it drains your energy and makes you sick .
      We just need to reform our system . The way we do business. That’s all

  3. Prince

    September 29, 2016 at 1:09 pm

    Can someone tell this woman to SHUT THE HELL UP!!!

  4. tunmi

    September 29, 2016 at 2:31 pm

    And actually the average Nigerian likes her. Average, as in those who have been feeling the poverty and scarcity for close to a decade now.

    You mean to tell me they were not creating balance sheets? Hold up!!!!! We’re there any financial statements at all? The federal govt can actually do something here. They can make it a requirement for financial statements to be created and publicized in order to receive federal funds. But isn’t this just common sense though, to create at least a balance sheet? This isssue is bigger than we thought. No one is paying attention to the local govt or the state budget

  5. Philip

    September 29, 2016 at 4:40 pm

    The best way forward is to re-evaluate our previous mistakes and make corrections where necessary. Insulting people who are helping us do that will not solve our problems.
    Kemi Adeosun has been honest enough to tell us where we are and how we got there. She has explained how we can move forward and how we can better the economy, not for ourselves but for our children and our children’s children. But instead of encouraging her we are hauling insults at her, call her names and wish her evil. My people we have to apply discipline in not just our lives but in the way we think and the way we speak.

  6. Lacey

    September 30, 2016 at 3:06 am

    Any professional that keeps dilly dallying on whatever they are doing is confused! This is the end of the 3rd quarter ,2016! Why can she not just focus on the job and keep mute until end of December 2016, so Nigerians can actually take stock for themselves! Is she now a journalist that needs to update Nigerians with daily news?

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