Forensic audit of NNPCL will commence soon – Edun

Edun, who was speaking at the Nigerian Investor Forum, which is holding on the sidelines of the IMF/World bank spring meetings in Washington DC, explained that the recent rejigging of the management of the NNPCL is part of the cleansing the Federal Government has taken to audit the company

Addressing a group of investors drawn from renowned global financial institutions, including J.P. Morgan, the Minister outlined critical reforms the Federal Government has implemented to reset the economy and restore confidence.

Edun told the foreign investors that the government, through its veracious reforms, have laid the foundation that would make the country the desired destination for private investors as he said the country is on the road to 7 per cent annual growth, calling for investments in infrastructure, manufacturing, and agriculture.

This is as the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said Nigeria’s economy is on a path of stabilisation and recovery following months of tough but necessary reforms.

The minister of Finance and CBN governor both spoke with global investors at a high-profile investment forum in Washington DC on Tuesday.

Edun said the administration of President Bola Tinubu has implemented foundational reforms that are now yielding results, with the Nigerian economy expanding 3.84 per cent in Q4 2024 and 3.4 per cent overall for the year.

“Our goal is not just to maintain this momentum, but to accelerate it. We are targeting seven per cent annual growth, and we believe the policies we have implemented have laid the groundwork to achieve this.”