Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reaffirmed Nigeria’s commitment to bold economic reforms aimed at restoring stability, strengthening investor confidence, and laying the foundation for inclusive growth.
Speaking at the 31st Nigerian Economic Summit in Abuja, Edun described the country as being at “a pivotal moment” where decisive action will shape its economic future. He highlighted notable progress, including the stabilisation of the naira, improved foreign exchange management, higher federal allocations, and early signs of easing inflation.
The Minister outlined four key priorities to sustain the reform momentum: fiscal policy overhaul, increasing Nigeria’s tax-to-GDP ratio through automation and technology, curbing inflation, and unlocking private sector investment. With tax revenues at just 13 per cent of GDP compared to 50–60 per cent in peer economies, he stressed the urgency of widening the tax base to fund critical infrastructure and social programmes.
On social investment, Edun disclosed that the Direct Benefit Transfer Scheme has already reached over eight million Nigerians, with a target of 15 million households by the end of the year. He noted that every beneficiary is biometrically identified and digitally paid, ensuring transparency and impact.
DON'T MISS
Reiterating the central role of the private sector, the Minister said ongoing reforms are creating a more competitive environment for investment in energy, agriculture, transport, and digital infrastructure. “Nigeria’s demographic advantage means our youth will form a major part of the global workforce by 2050. Our task is to equip them to seize that opportunity,” he said.
Edun also underscored President Bola Ahmed Tinubu’s commitment to policies that deliver fiscal stability, attract investment, and ensure that prosperity is broadly shared.
Please follow and like us:
