Nigerians could begin to feel greater relief from economic hardship as ongoing reforms deliver improvements in inflation, foreign reserves, economic growth and investment, according to the Presidency.
Special Adviser to the President on Economic Affairs, Tope Fasua, says inflation declined to 14.63 per cent in September.
He adds that Nigeria secured more than six billion dollars in private capital commitments during investment engagements in Thailand.
Speaking on the sidelines of the IMF and World Bank Annual Meetings, Fasua acknowledges that improvements in economic indicators have yet to translate into relief for many households.
He says rising fuel prices continue to put pressure on families and businesses.
The presidential aide says the government is developing a social protection package to support vulnerable Nigerians, including older people, children and persons unable to support themselves.
He adds that direct cash assistance will remain necessary for those who need immediate support.
Fasua also says the government is targeting economic growth of six per cent, up from the current rate of 4.43 per cent, with the possibility of reaching seven per cent in subsequent years.
He maintains that the administration will not reverse its economic reforms, arguing that a stable economy is necessary to improve household welfare.
He also urges the media to communicate economic developments accurately as the government works to deliver on its promises to Nigerians.
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