As year 2019 draws near , the minister of finance, Zainab Ahmed has said that Nigeria is yet to recover from rapid commodity crash witnessed between the year 2014 and 2016 which was caused by crash down in global oil prices.
Ahmed who attributed the economic recession experience to inability of the previous administration’s failure to save for the raining days despite stable oil prices of 100 dollars per barrel also, assured federal government’s commitment towards more revenue generation through focus on full remittance by Government own enterprises and agencies.
The finance minister made this known in Abuja while speaking to journalists on the key activities in the ministry within the last three and half years.
Ahmed said the federal government led by President Muhammadu Buhari is committed to diversify the economy from over reliance on oil adding that there will be improvements in revenue performance and growing more revenue to reduce need for borrowing.
Zainab stressed that the Federal Government has paid inherited debt liabilities received in 2015 which include Paris club over deductions, pensioners and refunds to states government.