The Managing Director of the African Development Study Centre, ADSC, Amb. Victor Oluwafemi has said President Bola Tinubu’s choice of a seasoned economist, investment banker, and former Finance Commissioner of Lagos as Finance Minister and Coordinator of the Economy will help to rapidly transform Nigeria’s economy within a short period of time.
Speaking at a roundtable on the state of the Nigerian economy with business associates in Abuja on Thursday, Amb. Oluwafemi said:
“The capabilities of Wale Edun, who within eight years transformed the economy of Lagos in active collaboration with the then governor of Lagos, Tinubu, and his World Bank accomplishments, are definitely a sound choice.
“He has done it at a micro level in Lagos State, and he can excellently deliver at the federal level, which definitely is at a macro level.
“Wale Edun, as a minister of finance, definitely has all it takes to help galvanise the Nigerian economy to greater heights.
Amb. Oluwafemi explained that Edun’s expertise and experience in economic management and transformation have been exemplary, adding that his character, competence, capacity, ingenuity, and professionalism contributed to the transformation of the economy of Lagos State from a paltry sum of N600m in internally generated revenue (IGR) in 1999 to billions of Naira during the administration of President Bola Tinubu as Governor of the State.
“This is what I call the affirmative transformation from nothing to something great, as bringing IGR from the million to the billion benchmarks, which Lagos State has continued to improve upon to date, is remarkable.
“With such a man with impeccable track records as manifested in the investment banking sector of the Nigerian economy and Lagos as a melting pot, Edun will help to invigorate the ‘Renewed Hope’ agenda of President Tinubu to prosperity for all and sustained economic development, thereby enhancing the welfare, wellbeing, and wellness of the masses”.
Edun’s background in merchant banking, corporate finance, economics, and international finance and development at both sub-national and national and international levels are great assets for the speedy recovery of the Nigerian ailing economy.
Wale Edun, until his recent appointment as finance minister, was the Chair of ChapelHillDenham Group, Lagos, a leading investment bank.
He was an executive director of Lagos Merchant Bank, Investment Banking & Trust Company Limited, now Stanbic IBTC.
Wale is the founder and Chair of the Lagos Boxing Hall of Fame, a registered not-for-profit organisation that runs amateur boxing in Lagos.
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