The Federal Government, on Thursday, said that the economic policies it embarked upon had started bearing fruitful results in the economy, assuring that citizens would soon begin to feel the impacts in their lives.

This was because the government also appreciated the endurance of Nigerians on the side effects of economic reforms that brought serious hardship to the people.

The Federal Government made the expression when the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun had an interactive session with the Senate Committee on Finance at the National Assembly Complex, Abuja.

According to the Minister, the excruciating problems from the reforms are over for Nigerians as positive indicators for better days, are already emerging.

He said: “The two critical reforms on market-based price of Premium Motor Spirit (PMS) and foreign exchange, are now at the stage of results delivery and by extension, the viability of the Nation’s economy through restoration of fiscal viability.

“These two pillars of the economic reforms that have taken positive shape now, portend additional revenue for the government, recovery of the finances of NNPCL and a strong basis for growing the economy, in terms of attracting investment and creating jobs.

“I think we need to commend Nigerians for staying the cause to this stage of getting benefits”, he said.

Earlier in his address of welcome to the nation’s economic managers, the Chairman of the Committee, Senator Sani Musa said the session was a fact-finding one on workability or otherwise of the various reforms.

He said: “Today we gather to deliberate on the pressing matters related to the sales of crude oil to domestic refineries in Nigeria, in Naira and its implication on the approved medium-term expenditure framework and fiscal strategy paper for 2024-2026 and what we should expect for 2025-2027.

"Additionally, we will examine shortfalls in NMPCL revenue remittances, focusing on key areas such as foreign and domestic excess crude accounts, the signature bonus accounts, NMPCL cash call account and any outstanding or remitted revenue linked to under-recoveries.

"This meeting underscores our commitment to transparency, accountability and the responsible management of our national resources.

“I am confident that with the collaboration of the Ministry of Finance under the able leadership of the coordinating Minister of the Economy, the Office of the Accountant General of the Federation, the Central Bank of Nigeria and Revenue Mobilization and Physical Commission and other critical stakeholders present here, we will identify solutions and ensure that due process are upheld for the benefit of our economy and the Nigerian people”.

Aside from the Finance Minister, the Group Executive Officer ( GCEO) of Nigerian National Petroleum Company Limited (NNPC) Mele Kyari, the Director General of Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, representatives of the Governor of the Central Bank etc, also attended the session which was later joined by the President of the Senate, Godswill Akpabio while in closed door.