By Opeyemi Babalola

The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has appealed to Nigerians to be patient with the President Bola Tinubu administration, stating that the president is not unaware of the current hardship Nigerians are facing.

He assured that some underground works were being done to put the economy in a better shape.
   
Edun, who gave the assurance while speaking as a guest lecturer at the 70th anniversary lecture of the Loyola College Old Boys Association (LOCOBA) in Lagos, admitted that the last few years have been a very difficult one for many Nigerians and businesses in the country.
     
Sharing his insights on the theme of the event, ‘Restructuring the Nigerian Economy for Sustainable Growth and Investment’, Edun stated that Nigeria’s economy, which is growing at about 3 per cent GDP and above population growth that is 2.2 per cent, is a pointer to the fact that “no matter how slowly it is, we are increasing the wealth of the country.”
   
He announced that the OB3 Gas Pipeline and the $2.8b Ajaokuta-Kaduna-Kano Gas Pipeline Project, which are part of economic interventions to rejig the economy, would be completed in August and first quarter of next year respectively.
     
He emphasised the important roles investors play in poverty reduction, job creation and contribution to GDP, saying, “everywhere you look, Nigeria has opportunity for investors and entreprenuers to thrive because the philosophy and the policy of the government is that the private sector should invest, grow, create jobs while the government provide critical infrastructure.”   
   
In his remarks, Chairman of the event, Joe Keshi, urged the Federal Government to do away with palliatives, adding that it has never worked and will not alleviate poverty.
   
He said rather, it has become a source of corruption, contributing to the prohibitive costs of food in the markets.
   
“If you must deploy resources to support the most vulnerable, let’s try cash transfer, provided we have the reliable register to work with. Under Dr Akinwumi Adesina as Minister of Agriculture, farmers in the remotest part of the country had access to fertilisers,” he added.
   
Speaking on the activities lined up for the 70th anniversary ceremony, LOCOBA National President, Prof. Femi Ogunbiyi, said the old boys have intervened in addressing some of the challenges facing the school.
   
To commemorate the celebration, he said a book on the 70th anniversary would be launched as well essay competition, career talk and talent hunt for students and others.