Minister of Finance, Mrs Kemi Adeosun, Thursday, accused previous governments of “extreme wastefulness” in spending.
She spoke at the 10th Annual Conference of the Nigerian Bar Association (NBA) on Business Law in Abuja.
According to her, only financial discipline and diversification will save Nigeria.
“We are not an oil economy that can afford to be wasteful. Even those that have lots of oil are not wasteful,” she said.
The minister added that “We’ve been extremely wasteful. So we have got to be disciplined and invest in the things that will drive the wider economy.
“We have had GDP growth without development. That is extremely dangerous. You look at the GDP numbers that say eight per cent, nine per cent and everybody will feel very excited. But poverty and inequality has been growing.”
She, however, noted that President Muhammadu’s “unwavering commitment to fight corruption, improve transparency and the business climate will attract more investments”.
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