The managing director of 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 transform Nigeria’s economy within a short period of time.
Speaking at a roundtable on the state of the Nigerian economy with political associates in Abuja, 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 is 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 galvanize the Nigerian economy to greater heights.
Amb Oluwafemi explained Edun’s expertise and experience in economic management. & 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 affirmative transformation from nothing to something great as bringing IGR from the million to the billion benchmark, which Lagos state has continued to improve upon till 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 ‘Renewed Hope’ agenda of President Tinubu to prosperity for all and sustained economic development thereby enhancing welfare, wellbeing, and wellness of the masses”.
Edun background in merchant banking, corporate finance, economics and international finance & development at both sub national,national and international levels are great assets for speedy recovery of the Nigerian ailing economy.
Wale Edun until his recent appointment as finance minister is 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 Lagos Boxing Hall of Fame, a registered not for profit organisation that runs amateur boxing in Lagos.
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