Nigeria’s economic outlook is strengthening, with the Federal Government targeting 7% economic growth and large-scale job creation, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has announced.

Speaking at the conclusion of the 2025 IMF and World Bank Spring Meetings in Washington, D.C., Edun highlighted that, despite a challenging global environment marked by high debt, rising interest rates, and geopolitical tensions, Nigeria remains firmly on the path of reform, stability, and growth.

*We are focused on creating sustainable jobs for young Nigerians, supported by investment in critical infrastructure such as digital connectivity, access to data, and fibre optic networks,* Edun stated. *By crowding in the private sector and driving domestic revenue mobilisation, we are stabilising the economy and creating an environment where businesses can thrive.*

The Minister reaffirmed that the government’s economic strategy, anchored by President Bola Ahmed Tinubu’s administration, is delivering results, with international partners acknowledging Nigeria’s policy direction.

*At both the IMF and the World Bank, Nigeria’s reform programme — spanning fiscal, monetary, and structural policies — has been recognised as being on the right track. Despite global uncertainty, Nigeria is poised for resilient, inclusive growth,* Edun added.

He also emphasised the government’s pragmatic approach to fiscal planning:

*A budget is a statement of intent; it must be continually recalibrated to reflect on-ground realities and available resources.*

The Central Bank Governor, Mr. Olayemi Cardoso, echoed these sentiments, noting the CBN’s firm commitment to reducing inflation sustainably:

*Inflation remains the most disruptive force against the economic welfare of Nigerians. Our focus is to bring it down to single digits over the medium term,* Cardoso said.

Highlighting growing investor confidence, Cardoso referenced Nigeria’s recent high-level investment forum at the Nasdaq Market Site in New York, showcasing the country’s reform momentum and rising interest from global investors and the diaspora.

Nigeria’s delegation to the Spring Meetings was led by Mr. Wale Edun and included:

• Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN),

• Mr. Muhammad Sani Abdullahi, Deputy Governor, CBN Economic Policy Directorate,

• Distinguished Senator Mohammed Sani Musa, Chairman, Senate Committee on Finance,

• Hon. Saidu Musa Abdullahi, Deputy Chairman, House Committee on Finance,

• Mrs. Lydia Shehu Jafiya, Permanent Secretary, Federal Ministry of Finance,

• Mr. Faruk Yusuf Yabo, Permanent Secretary, Federal Ministry of Communications, Innovation and Digital Economy,

• Ms. Patience Oniha, Director General, Debt Management Office (DMO),

• Mrs. Sayande Okoli, Special Adviser to the President on Finance and Economy,

as well as other senior government officials.

As the Federal Government deepens its reform efforts, it remains committed to building a transparent, inclusive, and prosperous economic future for all Nigerians.

by Ijeoma Chigbu

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has wooed international investors to make Nigeria their destination of choice, highlighting the country’s robust economic growth and potential for private sector investment.

Speaking during the meeting with investors on the sidelines of the IMF/World Bank Spring Meetings in Washington DC, HM Edun highlighted the significant economic reforms introduced by President Bola Ahmed Tinubu’s administration, aimed at driving robust economic growth.

With a 3.8% growth recorded last year, the Minister said that the government is targeting 7% annual growth, driven by strategies to boost agricultural productivity, digital infrastructure, and oil production. He highlighted the government’s commitment to creating an enabling business environment, citing recent reforms such as subsidy removal and market pricing of petroleum products.

*We believe we have started to lay the foundations for a strong, economically strong Nigeria that can attract private sector investment,* Edun stated.

He informed that Nigeria offers vast opportunities for private sector investment and participation.

*We have huge opportunities to crowd in the private sector, particularly in infrastructure development, agriculture, and digitalization,* he maintained 

At the meeting, which was also attended by Chairman Senate Committee on Finance, Distinguished Senator Mohammed Sani Musa; the Deputy Chairman of the House of Representatives Committee for Finance, Hon. Saidu Musa Abdullahi; the Governor of the Central Bank of Nigeria Mr Olayemi Cardoso; the Permanent Secretary Federal Ministry of Finance Mrs Lydia Shehu Jafiya, the Special Adviser to the President on Finance and the Economy Sayande Okoli as well as Director General of the Debt Management Office (DMO), Ms Patience Oniha, HM Edun emphasized that Nigeria is looking inward to navigate global economic uncertainties, leveraging its large African market and potential for manufacturing growth. 

With a focus on private sector-led growth, Nigeria is poised to achieve sustainable economic development, thus lifting millions of its citizens out of poverty.

by Ijeoma Chigbu

The Federal Government of Nigeria will pursue diversification of its revenues and adopt greater prudent resource allocation measures to mitigate the impact of low oil prices should it continue, according to Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy.

Speaking at a meeting with investors during the ongoing IMF/World Bank Spring Meetings in Washington DC yesterday, Mr Wale Edun emphasized that with the recent reforms embarked upon by the present administration, Nigeria is better positioned to deal with global economic uncertainties.

The meeting was also attended by the Chairman, Senate Committee on Finance, Senator Mohammed Sani Musa; the Deputy Chairman of the House of Representatives Committee for Finance, Hon. Saidu Musa Abdullahi; the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso; the Permanent Secretary of the Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya and the Director General of the Debt Management Office, Ms. Patience Oniha 

The Minister outlined the government’s strategy to cope with lower oil prices, including prioritizing government expenditure, expanding non-oil exports, and optimizing assets through public-private partnerships. He also highlighted the importance of maintaining fiscal congruence, ensuring timely payment of statutory obligations, and boosting revenue through increased oil production.

With Nigeria’s brent crude currently trading at US $68 compared to the US $75 2025 budget benchmark, the Minister emphasised that the priority of the government will be to ensure that government expenditure continues to meet the priorities of Nigerians, especially on critical infrastructure such as roads, power, and food security. 

*Nigeria is diversifying its economy away from dependence on oil prices, and the extensive work on tax reforms is almost concluded, * Edun stated. *We will do all we can to create an enabling business environment, provide incentives, and implement structural reforms to attract private sector investment, drive growth, and generate revenue,* the Minister added 

With a focus on prudent resource allocation and diversification, Nigeria is poised to navigate the challenges of low oil prices and achieve sustainable economic growth.