Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has unveiled an ambitious, and comprehensive economic plan for the country.
This was announced in a statement issued by the Director, Information and Public Relations of the ministry, Mohammed Manga.
The minister outlined Nigeria’s fiscal priorities and economic direction for the coming year, to include a commitment to fiscal discipline, revenue mobilization, and an improved investment climate.
He highlighted a projected Gross Domestic Product (GDP) growth of 4.6percent for 2025, with a long-term ambition of 7 percent annually, a crucial target for poverty reductionz and sustainable development.
Edun emphasized that macro-economic stability remains a top priority, with exchange rate stability, trade surplus, and increased oil production positioning the country as a stronger global player.
“Foreign reserves have exceeded $40 billion, signalling confidence in economic policies and financial management,” he declared.
Aleo, the minister highlighted the importance of public-private partnership, as a critical tool to close Nigeria’s $100 billion annual infrastructure investment gap.
He said landmark projects, such as the Benin-Asaba Highway, and Lagos-Abeokuta Road are set to be developed under public-private partnership frameworks, reducing travel time and boosting productivity.
In the oil and gas sector, Edun emphasized the importance of domestic refining, with the Dangote Refinery now leading local crude petroleum processing.
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“This shift will significantly reduce reliance on imports, strengthen energy security, and enhance economic resilience,” he added.
Edun also addressed fiscal policy reforms, stressing the federal government’s drive to expand the tax base, streamline revenue collection, and create a business-friendly tax system.
He noted that a balanced approach to taxation, will encourage investment, while ensuring adequate funding for national priorities.
The minister reaffirmed the government’s dedication to economic transformation, driven by policies that foster growth, stability, and private sector participation.
“Building on strategic reforms, Nigeria is poised to unlock new opportunities for prosperity, accelerate national development, and secure a brighter future for generations to come,” he stated.
