Business

FG Charts Path To Renewed Stability, Accelerated Growth

Published

15 hours ago

August 16, 2025

The Federal Government has outlined its strategy for achieving renewed stability and accelerated growth, with a focus on private sector-led investment, job creation, and improved public services.

Speaking at a media briefing today, in his office in Abuja, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun shared the government’s vision for a more prosperous Nigeria.

He stated that the government’s economic strategy is anchored on two interrelated objectives: achieving a stable macroeconomic environment that supports private sector growth and building stronger government savings and public investment in critical sectors such as education, health, and infrastructure. This strategic approach, he explained, is designed to drive growth, create jobs, and improve public services.

*Our task is to translate this into tangible improvements in the lives of Nigerians, through principally more jobs, and quality jobs that give higher incomes, and of course better public services,* Edun said.

Despite global economic uncertainties, the Minister added that Nigeria’s economy is diversifying, with growth driven by sectors such as trade, communications, and construction. HM Edun noted that GDP growth reached 3.13% in Q1 2025, up from 2.3% in Q1 2024, while inflation moderated to 22.22% as of June 2025. Foreign exchange reserves stood at approximately $39 billion in July 2025.

He informed that the government has also settled outstanding capital budget obligations and is prioritising spending on critical sectors. The government, he added, is targeting 7% annual GDP growth, driven by private investment, infrastructure expansion, energy security, and food production. Key initiatives include implementing policies to support private sector growth, investing in critical infrastructure, and promoting agricultural development.

*Our fiscal discipline and structural reforms are designed to build investor confidence and position Nigeria for sustainable, inclusive growth,* the Minister said. *We are committed to a coordinated fiscal and monetary policy framework that can substantially and sustainably reduce inflation, enabling cheaper capital for businesses so they can invest, and of course, greater purchasing power for households,* Edun added.

The Minister also highlighted the government’s commitment to building an economy that works for everyone, with a focus on transparency, resilience, and purpose. *Nigeria’s future growth depends on effective, honest, and targeted spending. We must ensure that public resources work harder for our people and our economy,* he emphasized.

As the government continues to implement its economic reforms, it is expected that the economy will continue to grow and diversify, with a focus on private sector-led investment, job creation, and improved public services.

With this strategic approach, the Federal Government is confident that Nigeria’s economy will achieve renewed stability and accelerated growth, improving the lives of Nigerians and positioning the country for a brighter future.

Business

Lagos FA Chairman Hajji Gafar Liameed Receives Special Recognition Award

Published

15 hours ago

August 16, 2025

Stories24

The fourth edition of the Gusau Ahlan tournament, ended Friday in Lafia, Nasarawa, with aplomb and fanfare. And it saw the Chairman of the Lagos State Football Association, Hajji Gafar Olawale Liameed, was honoured with a special recognition award for his continuous support and contributions to the development of Nigerian youth, especially, in Lagos State.

Hajji Liameed was eulogised for being ever-present at all the opening and closing ceremonies of the prestigious tournament.

The amiable and hardworking LSFA boss, was presented with the award Governor of Nasarawa State, His Excellency, Alhaji Abdullahi A. Sule,with the able support of President of the Nigerian Football Federation (NFF), Alhaji Ibrahim Musa Gusau.

Business

Wale Edun Backs Economists Role In Shaping Nigeria’s Growth Path

Published

15 hours ago

August 16, 2025

Stories24

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, today in his office in Abuja met with a delegation from the Nigerian Economic Society (NES), led by its President, Prof. Adeola Adenikinju, committing to deeper collaboration aimed at shaping evidence-based economic policy.

Edun described NES as *the intellectual and statistical repository of applied economics in Nigeria,* emphasising that its research and policy recommendations are vital for guiding reforms that can unlock private sector investment and accelerate

sustainable growth.

He pledged the ministry’s full support for the Society’s upcoming annual conference, noting that stronger policy dialogue between government and economists would strengthen market confidence and improve economic outcomes.

Permanent Secretary of the Ministry of Finance, Mrs. Lydia Shehu Jafiya added: *The Society’s work helps shape a clearer, more accurate narrative of Nigeria’s economy, which is essential for attracting investment and sustaining reform momentum.*

Highlighting the conference theme, *Rethinking Africa’s Development: Pathways Forward,* Prof. Adenikinju outlined how leading economists, including Nobel laureate Prof. Roy Pearson will convene in Abuja to debate strategies for inclusive growth, fiscal stability, and innovation. The event will feature over 200 academic papers and engage 500 economics students, building capacity for the next generation of policy leaders.

Business

FG Refines Capital Budget Execution For Accelerated Growth

Published

15 hours ago

August 16, 2025

Stories24

The Federal Government has taken a significant step towards accelerating economic growth and development by refining the implementation of its 2025 capital budget. This strategic move is aimed at unlocking private sector confidence, driving infrastructure delivery, and sustaining economic growth and development.

In line with this objective, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, today in Abuja, convened senior government officials to refine the implementation of Nigeria’s 2025 capital budget.

The session addressed the integration of unspent 2024 capital funds into the 2025 budget through the GIFMIS platform, streamlining disbursements and ensuring that every naira is deployed towards productive investments.

Under the revised framework, Ministries, Departments, and Agencies (MDAs) of the Federal Government must secure warrants before entering into contracts, aligning public expenditure with cash availability and strict financial regulations.

HM Edun underscored that transparent and efficient budget execution is critical to President Bola Ahmed Tinubu’s growth agenda, which targets GDP expansion of at least 7% to lift millions out of poverty.

For the private sector, the reforms signal a more predictable fiscal environment, improved payment cycles, and stronger infrastructure pipelines, essential foundations for investment, and job creation.

*Nigeria’s future growth depends on effective, honest, and targeted spending,* Edun said. *We must ensure that public resources work harder for our people and our economy,* he emphasized

With these reforms, Nigeria is poised to unlock its economic potential and drive sustainable growth. By prioritizing transparent and efficient budget execution, the government is sending a strong signal to investors and citizens alike that it is committed to building a better future for all Nigerians.