The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has stated that Nigeria’s economy is making significant strides in recovery and growth.
He made the disclosure Monday in Abuja during the 2025 budget defence before the Senate Committee on Finance.
Edun, who was joined by the Minister of State for Finance, Dr. Doris Uzoka-Anite, the Permanent Secretary, Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya, the Accountant General of the Federation, Dr. Oluwatoyin Sakirat Madein, as well as the Ministry’s Directors, outlined the President Bola Ahmed Tinubu-led Administration’s efforts to stabilise the economy through key reforms and fiscal measures.
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Edun highlighted the broad impact of the reforms to include the liberalisation of the foreign exchange market, deregulation of petroleum pricing, and the expansion of domestic refining capacity.
He explained that these measures are driving fiscal stability, reducing inefficiencies, and creating a more sustainable economic framework.
The Minister acknowledged, however, that while the reforms may bring short-term discomfort, their long-term benefits will include job creation, poverty reduction, and greater economic resilience.
He emphasised the government’s commitment to infrastructure development, particularly in digital networks and energy, to improve productivity and attract private sector investments.
In a statement, Mohammed Manga, Director, Information and Public Relations in the Federal Ministry of Finance said the Senate Committee on Finance approved the Ministry’s N38 billion 2025 budget.
They commended the Ministry’s leadership for its commitment to fiscal discipline and economic recovery.
Edun expressed confidence in Nigeria’s brighter economic future, noting that the reforms will transform the country’s economic landscape and improve the standard of living for its citizens.
