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FG Strengthens  Economic Ties  With  World  Bank As Reforms Gain Momentum

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The Federal Government has reaffirmed its commitment to implementing the various economic reforms of the President Bola Ahmed Tinubu-led Administration aimed at improving the lives of Nigerians.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, gave the assurance on Monday in his office in Abuja when he received a high-level delegation from the World Bank, led by Ousmane Diagana, Vice President for Western and Central Africa.

The Minister reiterated the government’s focus on three key areas: improving project delivery speed, scaling up biometric verification for 15 million individuals on the national social register, and accelerating the implementation of the Mission 300 initiative. He announced the establishment of a Compact Delivery and Monitoring Unit and requested a status update to ensure the nation stays on track to set new records in project approval and execution.

Key areas of collaboration include increased agricultural productivity, improved access to finance for SMEs, enhanced digital transformation, and broader financial inclusion.

Speaking earlier, Ousmane Diagana stated that their visit was to reaffirm support for President Bola Tinubu’s economic reform agenda and development priorities.

Diagana praised Nigeria’s recent GDP growth of 3.4% — the strongest since 2014 — and commended the government’s progress in stabilising the economy and improving portfolio performance. He stressed the need to maintain reform momentum to achieve inclusive, job-creating growth and highlighted Nigeria’s position as the World Bank’s largest portfolio in Africa, with commitments totalling around $17 billion. He also welcomed Nigeria’s leadership on the Mission 300 initiative — a pan-African drive to expand energy access to 300 million people — and urged faster implementation of social protection measures, particularly targeted cash transfers.

With the World Bank’s continued support and commitment to Nigeria’s economic reforms, the country is poised to achieve significant milestones in its development journey. The Federal Government’s focus on inclusive growth, job creation, and social protection measures will undoubtedly improve the lives of Nigerians, particularly the most vulnerable.

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Edun Champions Nigeria’s Fiscal Reset  At The UN Finance Summit 

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In a bid to drive economic growth and development, the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun has today emphasized the need for fiscal reform and international cooperation when he delivered the country’s statement at the 4th International Conference on Financing for Development (FFD4), holding in Sevilla, Spain. 

Speaking at a high-level roundtable on domestic public resource mobilisation, HM Edun called for a rebalancing of global finance to better reflect the realities of developing economies. He highlighted Nigeria’s reforms to improve tax administration, drive fiscal discipline, and create an enabling environment for private sector investment.

*In today’s evolving global landscape, self-reliance is essential. We are prioritising digital infrastructure, transparency, and institutional reform to deliver more for Nigerians with every naira spent,* the Minister noted. 

He also stressed the urgent need for stronger international collaboration on tax fairness and illicit financial flows, areas where African economies continue to face systemic disadvantage.

The event brought together senior officials from the United Nations, OECD, EU, and development banks, alongside finance ministers from countries including Nepal, Malawi, and Uruguay.

As the Nigerian government continues to drive economic reforms, HM Edun’s message at the UN Finance Summit underscores the country’s commitment to achieving sustainable economic growth and development for the benefit of all Nigerians

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Nigeria Emerges As Pan -African  Trade  Powerhouse  As Edun  Charts Path  To Economic Dominace  At Afreximbank  Meetings 

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The 32nd Annual Meetings of the African Export-Import Bank (Afreximbank) provided a platform for Nigeria to showcase its economic prowess, with the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlighting the country’s emergence as a regional hub for trade, development finance, and industrial growth.

Speaking during a high-level session of delegates from across Africa and the diaspora at the Annual Meetings in Abuja on Friday, the Minister underscored Nigeria’s partnership with Afreximbank as a model for effective collaboration between governments and development finance institutions. *We are not just participating in a summit. We are advancing a shared vision for Africa’s prosperity, with Nigeria playing a leading role in its delivery,* Edun said.

He highlighted further that Nigeria has secured over $52 billion in Afreximbank financing, with targeted interventions across energy, infrastructure, healthcare, and SME development, including the Africa Trade Centre in Abuja, the African Medical Centre of Excellence, and the proposed Africa Energy Bank, with $5 billion in capital, to be headquartered in Abuja.

The Minister also pointed to Nigeria’s recent formal adoption of the Pan-African Payment and Settlement System (PAPSS), calling it a game-changer for intra-African trade and financial independence. *With PAPSS, Nigerian businesses can settle cross-border transactions in local currencies, reducing foreign exchange pressures and creating a more stable trade environment,* he stated.

HM Edun applauded the innovative leadership of Afreximbank President Prof. Benedict Oramah and urged the Nigerian private sector to leverage the full suite of Afreximbank instruments, including FEDA, AQAC, and CANEX, to expand market access and scale impact. *The enabling institutions are in place. The infrastructure is growing. Now is the moment for Nigeria’s entrepreneurs and investors to go bigger, bolder, and regional,* he added.

The 32nd Afreximbank Annual Meetings convened top public and private sector leaders to advance dialogue on trade integration, financing solutions, and industrial growth across Africa.

As the African economy continues to evolve, Nigeria’s emergence as a pan-African trade powerhouse positions the country for sustained growth, investment, and prosperity. With strategic partnerships and innovative solutions, Nigeria is poised to play a leading role in shaping the continent’s economic future.

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Nigeria, Rwanda Sign Double Taxation Treaty To Unlock Cross-Border  Investment

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On the sidelines of the 32nd Afreximbank Annual Meetings, holding in Abuja, Nigeria, the Federal Republic of Nigeria and the Republic of Rwanda today signed a landmark Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, reinforcing their shared commitment to deepening economic cooperation and facilitating private sector-led growth across Africa. 

The high-level signing ceremony, held in Abuja, was presided over by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, alongside his Rwandan counterpart, Yusuf Murangwa, Minister of Finance and Economic Planning.

HM Edun hailed the agreement as a strategic milestone following the recent passage of four landmark tax reform bills in Nigeria. *This agreement is a critical tool for promoting cross-border investment, ensuring tax certainty, and eliminating the risk of being taxed twice on the same income,* he stated. Edun added that the agreement *supports our broader objective of unlocking private sector capital, accelerating intra-African trade, and positioning Nigeria as a competitive destination for investment under the African Continental Free Trade Area (AfCFTA).*

The treaty simplifies tax administration, improves transparency, and aligns Nigeria with global standards, ensuring that both governments can protect taxpayers, reduce loopholes, and combat fiscal abuse. It is expected to bolster confidence among investors operating in both countries, particularly in sectors such as technology, finance, agriculture, and logistics.

Rwanda’s Finance Minister, Yusuf Murangwa, echoed the sentiment of partnership and long-term ambition: *This agreement is a testament to the strong partnership between Rwanda and Nigeria, and a critical step in creating a unified, investor-friendly Africa. We believe this will serve as a model for deeper regional integration and shared prosperity.*

Both ministers acknowledged the dedication of their technical teams, whose professionalism and foresight shaped the framework for this outcome. The agreement not only cements bilateral tax cooperation but also opens the door for enhanced trade, technology collaboration, and capital flows, laying the foundation for a more resilient, integrated African economy.

As Africa continues to evolve, partnerships like this pave the way for a brighter economic future, fostering growth, investment, and prosperity across the continent.

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