Nigeria’s minister of finance, Mrs Kemi Adeosun, yesterday, June 24, lamented over the culture of waste in Nigeria’s finances over the years.

The minister made the comment while speaking as one of the guest speakers at the 10th Annual Conference of the Nigerian Bar Association (NBA) Section on Business Law in Abuja, Daily Trust reports.

According to Adeosun, only financial discipline and diversification could pull Nigeria out of its present economic situation.

She told her audience that the Muhammadu Buhari administration’s way of tackling the issue is to diversify revenue sources in the country in order to gain economic stability against the unstable oil market

Her words: “We are not an oil economy that can afford to be wasteful. Even those that have lots of oil are not wasteful.

“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. Because 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 applauded President Buhari’s unwavering commitment to fight corruption and improve transparency in the country’s business environment, saying it will attract more investments in the country.

Adeosun was recently embarrassed by workers in the ministry of finance who staged a protest on Monday, June 20, over what they said is her constant maltreatment of workers in the ministry.
The workers who were chanting songs and also carried placards with various inscriptions accusing the minister of negligence.

Some of the placards read: “Inflation is 15% courtesy of Adeosun”; “Adeosun score card is zero”; “You are destroying Federal Ministry of Finance” and “Kemi Adeosun must go” among others.