JUST IN: Nigeria ‘ll place among 20 largest economies under Tinubu — Ministerial nominee

Shuaibu Audu, a ministerial nominee from Kogi has expressed optimism that Nigeria will emerge among the 20 largest economies in the world, under the administration of President Bola Tinubu.

Shuaibu, a son of the late Kogi governor, Alhaji Abubakar Audu, said this when he appeared for screening at the Senate on Saturday.

He expressed confidence that the economy would bounce back from the current setback due to naira devaluation, saying that the economy was massive with a total size of the GDP at 470 billion dollars.

“This has made us the largest and most important economy in Africa. Currently we are the 30th biggest economy in the world.

“I believe with some of the measures that President Bola Tinubu has put in place, I believe we can significantly tap into the potential of Nigeria.

“And increase our ranking and move closer to being the top 20 and being part of the G-20 economy over the President’s eight-year tenure,” he said.

Shuaibu said that liberalising the apex bank policy was one of the most brilliant decisions that the President could have taken and he took that decision on day one of this new administration.

“This is because the apex reserve was bleeding and a lot of money was been expended on defending the naira when the parallel market was trading at a much higher rate.

“And creating an opportunity for people to take money where it’s discounted and make super normal profit and I think the President with his experience has done a great deal.

“I believe that over time, some of the key things are been put in place whether it’s in terms of vamping up production capabilities in agriculture, exporting various commodities from Nigeria.

“This will help mitigate the devaluation problem. I believe the devaluation problem is a problem that the president will tackle effectively over time,” he said.