The Federal Government’s commitment to economic reform and development took center stage today as the Federal Ministry of Finance held its Citizens and Stakeholders Engagement on the Implementation of Presidential Priorities and Ministerial Deliverables for second quarter of 2025 in Abuja. 

This quarterly engagement is designed to foster transparency, accountability, and inclusive growth, providing a platform for stakeholders to engage with the Ministry on its progress and challenges.

The Ministry’s efforts were highlighted in the keynote address by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who provided a comprehensive update on the implementation of presidential priorities and ministerial deliverables. 

He outlined progress across key reform pillars, stabilising foreign exchange markets, expanding fiscal revenues, driving industrial investment, and improving social outcomes for Nigerians.

*We are now in the third phase of our reform agenda, focused on accelerating investment-led growth that delivers jobs, reduces inflation, and lifts millions out of poverty,* the Minister said.  He added that *Our trajectory is clear: from macro-economic correction to national transformation.*

The Minister cited a substantial rise in external reserves, from under $4 billion to over $23 billion, and noted renewed investor confidence, evidenced by credit rating upgrades and major energy investments.

Speaking at the event, the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite underscored the importance of stakeholder engagement in delivering reform dividends: *This platform enables citizens and the private sector to hold us accountable while shaping a more responsive and transparent economy,* she said. 

She assured of the Ministry’s  dedication to delivering on its mandate through effective policy implementation and stakeholder engagement with a view to driving economic growth and development that is equitable and sustainable.

Mr. Raymond Omenka Omachi, Permanent Secretary Special Duties, Federal Ministry of Finance, added that institutional collaboration and disciplined execution remain critical to sustaining reform momentum: *We are working across ministries and agencies to ensure that reforms are not just announced, but effectively implemented with measurable impact*, he stated 

The event drew participation from industry leaders, civil society organisations, and development partners. The second quarter 2025 Citizens and Stakeholders’ Engagement Session marked a significant step towards achieving the Federal Government’s economic objectives. With a clear roadmap for investment-led growth and a commitment to transparency and accountability, the Ministry of Finance is poised to drive meaningful progress and deliver tangible benefits to Nigerians.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Wednesday, attended a key meeting of the Federal Executive Council’s Steering Committee on Domestic Crude Oil and Refined Products Sales in Naira.

The session brought together senior officials from the Federal Inland Revenue Service, NNPC, Dangote and NNPC Refineries, the Central Bank, NMDPRA, NUPRC, and the Nigerian Ports Authority.

The meeting underscored the importance of ongoing collaboration through the One Stop Shop mechanism, with a focus on accelerating Nigeria’s transition to a self-reliant energy market. The crude-for-naira framework is central to stabilising the FX market, supporting local industry, and reducing reliance on imports—offering long-term benefits for both Nigerians and the private sector.

Steering Committee’s review marks a significant milestone in Nigeria’s journey towards energy market reforms, paving the way for increased economic stability and growth.

In a significant step towards strengthening Nigeria’s economy and achieving sustainable growth and development, the Federal Government has launched the Revenue Optimization and Assurance Project (REV-OP). This strategic initiative aims to address revenue leakages, enhance transparency, and drive economic development. 

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun officially unveiled the project, a flagship initiative designed to strengthen Nigeria’s public financial management and revenue systems when he chaired a high-level session today in his office in Abuja.

The REV-OP initiative introduces a bold new framework grounded in transparency, efficiency, and digital transformation. *This is not a rebrand, but a clean break,* the Minister stated. He added that the project *marks the start of a more secure and accountable financial future for Nigeria.* 

The session brought together representatives from the Federal Inland Revenue Service (FIRS), the Central Bank of Nigeria (CBN), and the Office of the Accountant General, alongside key private-sector technology partners.

To ensure robust oversight and delivery, a two-tier governance structure has been established, comprising a Steering Committee and a dedicated Project Management Team, with daily coordination meetings to drive momentum and execution. This structure is expected to enhance accountability, facilitate effective decision-making, and ensure timely implementation of project objectives. 

The REV-OP initiative aligns closely with President Bola Ahmed Tinubu’s economic vision to increase domestic revenue, plug leakages, and build a stable, investor-friendly fiscal environment.

As Nigeria embarks on this transformative journey, the Revenue Optimization and Assurance Project is poised to drive economic growth, improve revenue collection, and enhance transparency in public financial management. With REV-OP, the Federal Government is committed to building a more prosperous and sustainable future for the nation.