Finance Minister backs austerity measures

The Minister of Finance and the coordinator of the Nigerian economy, Dr Ngozi Okonjo-Iweala, says the ongoing reforms in the country as part of the austerity measures are necessary to put the economy back on track, following the fallen price of crude all and the recent devaluation of the naira by the Central bank of Nigeria.

Speaking at the annual capital market committee retreat ongoing in Abuja, which heralded the launch of the capital market 10-year master plan, Dr Okonjo-Iweala, said good policies are needed to revive the economy.

She added that the Federal government is not relenting in its effort in ensuring stability and growth in the economy.