In a strategic move to propel Nigeria’s economic resurgence, the Economic Management Team (EMT) has set its sights on achieving rapid and sustained growth, building on recent stabilization successes, while also focusing on the country’s path towards accelerated and inclusive economic development for the benefit of the citizenry. 

Chairing a strategic session of the EMT in his office in Abuja today, the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun  highlighted emerging signs of macroeconomic stabilisation — including a narrowing budget deficit, and improved fiscal revenues.

 He also noted Nigeria’s recent credit rating upgrade as a clear sign of international confidence in the reform agenda.

*That is a clear, objective indication that things are moving in the right direction,* he affirmed 

The Minister praised the Central Bank of Nigeria (CBN) for its pivotal role in restoring confidence in the external sector, noting further, the positive impact of a more transparent exchange rate regime and rising foreign reserves, recording a net foreign exchange reserve of US $23 billion in 2024, and closing the exchange premium from 65% in 2023 to 1% in 2024.

*High commendation goes to the Central Bank — not just for results, but for the clarity and transparency of their actions,* he said. 

Referencing discussions at the recent IMF-World Bank Spring Meetings, the Minister acknowledged ongoing global uncertainty and domestic fiscal constraints, including a recent drop in oil prices. He, however, stressed that these challenges underscore the need to accelerate private sector investment and job creation.

The Minister urged all public agencies to embrace data-driven, evidence-based policymaking, commending the Central Bank’s approach as a model of transparency. EMT subcommittees were tasked with continuing their work to shape the next phase of Nigeria’s economic roadmap, to be presented to the President, focusing on unlocking rapid and sustained inclusive growth, with the government targeting 7 percent in the medium term.

 The EMT also seeks to further improve the country’s sovereign ratings to bring down the costs of debt while building stronger GDP growth through sector and specific growth policies.

This includes seeking to unlock pension funds for infrastructure, increases in oil production, and reduction in the cost of crude oil production, while strengthening existing and new domestic and foreign investments through effective communication of the government’s economic agenda. The EMT recognizes the progress and acceleration of investments in telecoms infrastructure that will serve as the basis of strong contributions from the sector in the coming quarters and recognized that technology has a big role to play in driving growth in other sectors such as agriculture. 

The meeting also provided an opportunity for the EMT to discuss how the data on poverty can be disaggregated so the government is able to provide targeted economic opportunities and improve the effectiveness of current government expenditure levels.

With these strategic initiatives, Nigeria is poised to achieve rapid and sustained inclusive growth, transforming the lives of millions of Nigerians and cementing its position as a major player in the global economy.

The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite has held strategic bilateral talks with Ms. Diane Janse, Swedish State Secretary for International Development Cooperation, on the sidelines of the 2025 UN Meetings held in New York, USA.

The meeting focused on strengthening Nigeria’s partnerships with Sweden in key areas, including technology innovation, digital ecosystems, and green economy partnerships, exploring opportunities for collaboration that would drive sustainable development and economic growth in Nigeria, underscoring  Nigeria’s commitment to leveraging international partnerships to achieve its development goals.

The Federal Government looks forward to working closely with Sweden and other development allies to implement impactful projects that will transform the lives of millions of Nigerians in line with the Renewed Hope Agenda of the present administration.

The bilateral engagement is part of Dr. Uzoka-Anite’s engagements at the 2025 UN Meetings in New York, showcasing Nigeria’s proactive approach to global development partnerships.

In pursuit of its development agenda, the Federal Government has urged the World Bank Group to prioritize targeted investments in critical sectors that drive sustainable development aimed at elevating Nigeria’s Development Agenda.

The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, made the urge in New York when she participated in the thematic session on the World Bank Group’s Contribution to Financing for Development (FFD), where she underscored the need to match the Bank’s expanded financial capacity with targeted, transformative investments in key sectors of the economy.

Dr. Uzoka-Anite emphasized the importance of investments in agriculture, energy access, and human capital, citing impactful World Bank-supported programmes like the Agriculture Sector Recovery and Sustained Livelihoods Programme (ACReSAL) and ANRiN.

The Minister highlighted these programmes as examples of effective cooperation between Nigeria and the World Bank Group, demonstrating the potential for strategic investments to yield meaningful development outcomes.

By prioritizing targeted investments in key sectors, the World Bank Group can play a more impactful role in supporting countries like Nigeria to achieve their development goals. The Federal Government reaffirms its commitment to partnering with the World Bank Group to drive sustainable development and improve the lives of Nigerians in line with the Renewed Hope Agenda of the President Bola Ahmed Tinubu-led Administration