The Federal Government has called for the strategic deployment of the nation’s pension assets to accelerate national development, describing the industry as a key engine for long-term growth.

Speaking on Friday at the 2025 Pension Industry Leadership Retreat in Lagos, themed *Sustainable Retirement – Strategic Blueprint for Economic Development and Inclusion*, the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun emphasized the critical role of the pension industry in driving Nigeria’s economic growth and development. 

He commended the National Pension Commission (PENCOM) for convening a timely and forward-looking dialogue.

With pension assets now exceeding ₦23 trillion—roughly 8.6% of GDP—the Minister stressed the need to align investments with national priorities such as infrastructure, housing, energy, and digital inclusion. *We must harness the transformative power of pension funds to support sustainable growth—without compromising the security of retirees’ savings,* he said.

HM Edun noted that while the Contributory Pension Scheme has become one of Africa’s most successful savings platforms, Nigeria still lags behind global pension penetration benchmarks. He urged stakeholders to consider well-regulated, de-risked vehicles that balance impact with safety and returns.

Reflecting on macroeconomic trends, he cited Q1 2025 GDP growth of 3.84%, stronger reserves, and a more stable exchange rate, but said faster expansion—at least 7% annually—is essential to reduce poverty. *The budget accounts for just 10% of GDP; institutional investors like pension funds must now take centre stage,* he added.

The Minister reaffirmed President Bola Ahmed Tinubu’s commitment to building an inclusive and resilient financial system that supports Nigeria’s long-term ambitions.

By strategically deploying pension assets, Nigeria can unlock new opportunities for economic growth, job creation, and improved living standards. 

Thus, the Federal Government looks forward to collaborating with stakeholders to harness the full potential of the pension industry for national development

The follow-on meeting of the Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative convened earlier today under the chairmanship of the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

The session reviewed implementation milestones and recorded notable progress since the last engagement. The meeting was attended by the Executive Chairman of the Federal Inland Revenue Service and Chairman of the Technical Sub-Committee, Mr. Zacch Adedeji; the Special Adviser to the President on Energy, Ms. Olu Verheijen; as well as senior representatives of the Nigerian National Petroleum Company Limited (NNPCL), local refining operators, and key regulatory institutions including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Ports Authority (NPA).

Stakeholders reaffirmed their shared commitment to the effective and seamless execution of the policy, which remains a critical component of President Bola Tinubu’s broader strategy to strengthen the Naira, enhance energy security, and promote local value addition within the sector.

The Coordinating Minister of the Economy commended the continued collaboration across agencies and partners and will provide further updates in due course.

In a significant step towards boosting Nigeria’s agricultural sector and driving economic growth, the Federal Government has expressed its commitment to partnering with Propcom+, a UK Aid-funded programme, to enhance agricultural productivity and improve livelihoods. 

This initiative was underscored when the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, received in his office in Abuja today a delegation from Propcom+, the UK Aid-funded programme focused on climate-resilient and market-led agricultural development.

HM Edun highlighted the government’s commitment to driving inclusive economic growth through strategic investments in agriculture. 

He noted that efforts are being coordinated in partnership with the Federal Ministry of Agriculture, the African Development Bank, and other stakeholders to expand access to subsidised inputs and finance for smallholder farmers across both wet and dry seasons. 

The Minister also underscored the importance of efficiency and transparency, citing the use of biometric systems for direct benefit transfers to vulnerable populations, and ongoing initiatives to connect farmers with viable markets—ensuring that interventions deliver measurable value to communities across the country. 

Led by Dr Adiya Ode, the Political Director and Team Leader, the Propcom+ team expressed interest in supporting Nigeria’s ongoing reform efforts, with a particular emphasis on enhancing agricultural productivity and improving livelihoods in conflict- and climate-affected regions.

This partnership marks a crucial milestone in Nigeria’s quest for sustainable agricultural development and economic growth and is expected to have a lasting impact on the lives of millions of Nigerians.