Economists divided over ex-minister Edun’s tenure, set agenda for Oyedele
Economic experts have given mixed assessments of the tenure of former Minister of Finance and Coordinating Minister of the Economy, Wale Edun, while outlining priorities for his successor, Taiwo Oyedele.
The experts spoke in Abuja on Monday.
Mr Oyedele was recently elevated to the position of Minister of Finance and Coordinating Minister of the Economy in a major cabinet reshuffle.
He officially assumed office on April 24, succeeding Mr Edun.
While acknowledging Mr Edun’s efforts at macroeconomic stabilisation, the economists stressed the need for deeper reforms to sustain growth and ease citizens’ hardship.
Dr Gloria Phillips, a development economist, said Mr Edun’s tenure was marked by fiscal discipline and improved revenue drive, but noted inflationary pressures remained high.
“Stabilisation policies were evident, but transmission to household welfare was weak,” she said.
Ms Phillips commended the government’s coordination of fiscal and monetary policies during Mr Edun’s period.
She, however, urged the new minister to prioritise exchange rate stability and boost investor confidence.
Simon Audu, an economist, said reforms initiated under Mr Edun laid a foundation for long-term growth.
Mr Audu said that consistency and policy clarity would be critical for the incoming administration.
He said that the business environment improved moderately, while calling for stronger support for small and medium enterprises to drive job creation.
Lydia Emerson, a public finance expert, said that debt management strategies were strengthened during the period.
She urged the new minister to focus on reducing debt servicing costs and expanding non-oil revenue sources.
Ms Emerson also emphasised the need for comprehensive tax reforms to widen the revenue base.
She urged the incoming minister to simplify tax administration and improve compliance.
The experts collectively agreed that the new finance minister must prioritise inflation control, economic diversification, and social protection programmes.
They also stressed the importance of transparency, policy continuity, and inclusive growth to consolidate gains recorded in recent years.
(NAN)
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