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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

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    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

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Nigeria: Country On the Way Out of Recession – Finance Minister

bycitibusinessnews
September 29, 2016
in Africa, Top Stories, West Africa
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Mrs Kemi Adeosun, the Minister of Finance, on Wednesday said that the nation was already getting out of recession, saying the Federal Government had taken steps that were in the best interest of the citizens.

Adeosun disclosed this in her closing remarks at a two-day conference of National Council of Finance and Economic Development (NACOFED) in Abeokuta.

“We are already getting out of recession because of the actions the Federal Government is taking, if you are in a problem, the day you start to step towards progression, you are already getting out of it.

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“The government is investing more in capital than we have ever invested, we are sorting out infrastructures, we are stopping wastage and so the sign of recovery is already there.

“Agriculture and solid mineral are already starting to grow and so they are responding to our policy initiative and we are expected to continue in that direction.

“Nigeria is getting out of the trouble that we have found ourselves, we are turning things around and I believe everybody is united and everybody that were here represented the 36 states, “she said.

Adeosun also urged all the State Commissioners for Finance, Accountant-General and all finance professionals to always take stock and also compute their own balance sheet, saying it would assist them before decisions were taken.

She explained that the move would allow the states to know their liabilities, strengths and ways to go about their finances in the future, adding that it would in no small measure helped the Federal Government.

“We need to take stock, one of the most important thing I want to encourage all to do is to compute your own balance sheet, what are your assets, what are your liability, know your position.

“What are those pension liability, contractors liabilities that are hidden, bring them out, compute them, know them, it is very important.

“One of those things we have realised in the Federal level is that if that had been done we would have probably made better decisions in the past.

“If you don’t have the data you can carry on spending as if all is well only for a problem to come out as it has done in our own case to affect us.

“I just want to charge everybody to quietly compute your balance sheet and know it so that you can make decisions that really have the full picture, “she said.

–

Credit: All Africa

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