Nigeria’s economy is showing strong signs of recovery and growth, according to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
He made this statement on Monday in Abuja during the 2025 budget defense before the Senate Committee on Finance.
Joining Edun at the budget defense were Dr. Doris Uzoka-Anite, Minister of State for Finance, Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, Dr. Oluwatoyin Sakirat Madein, Accountant General of the Federation, and other senior officials from the Ministry. During the presentation, Edun outlined the key economic reforms being implemented by the President Bola Ahmed Tinubu-led Administration aimed at stabilizing the economy.
Edun emphasized the impact of significant reforms such as the liberalisation of the foreign exchange market, deregulation of petroleum pricing, and efforts to expand domestic refining capacity. He explained that these measures are designed to drive fiscal stability, reduce inefficiencies, and build a more sustainable economic framework for the country.
Despite acknowledging that the reforms may cause short-term discomfort, Edun highlighted the long-term benefits, including job creation, poverty reduction, and enhanced economic resilience. The Minister also underscored the government’s dedication to investing in infrastructure development, particularly in digital networks and energy, to boost productivity and attract private sector investment.
In a related statement, Mohammed Manga, Director of Information and Public Relations in the Federal Ministry of Finance, announced that the Senate Committee on Finance had approved the Ministry’s N38 billion 2025 budget. The committee praised the Ministry’s leadership for its commitment to fiscal discipline and efforts toward economic recovery.
Edun expressed optimism about Nigeria’s future, noting that the ongoing reforms are expected to transform the nation’s economic landscape and significantly improve the standard of living for its citizens.
