The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that Nigeria’s economy is making substantial progress in recovery and growth.
According to reports, Edun made this statement on Monday in Abuja during the 2025 budget defense before the Senate Committee on Finance.
The Ministry’s spokesman, Mohammed Manga, noted that Edun was accompanied by the Minister of State for Finance, Dr. Doris Uzoka-Anite, Permanent Secretary Mrs. Lydia Shehu Jafiya, the Accountant General of the Federation (AGF), Dr. Oluwatoyin Sakirat Madein, and other Ministry directors.
He detailed the efforts of the President Bola Tinubu-led administration to stabilize the economy through critical reforms and fiscal policies.
Edun emphasized the wide-ranging impact of these reforms, including the “liberalization of the foreign exchange market, deregulation of petroleum pricing, and the expansion of domestic refining capacity.”
While acknowledging the discomfort caused by some of these measures, the Minister stressed their positive long-term effects on economic growth.
“These reforms are driving fiscal stability, reducing inefficiencies, and creating a more sustainable economic framework. Though they may bring short-term discomfort, their long-term benefits will include job creation, poverty reduction, and enhanced economic resilience,” he said.
He also highlighted the government’s focus on infrastructure development, particularly in digital networks and energy, as part of efforts to boost productivity and attract private sector investment.
The Senate Committee on Finance approved the Ministry’s ₦38 billion 2025 budget, commending its leadership for upholding fiscal discipline and supporting economic recovery.
Expressing optimism about Nigeria’s economic future, Edun stated, “These reforms will transform the country’s economic landscape and improve the standard of living for its citizens.”
