The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced that the federal government has introduced a comprehensive economic plan aimed at sustainable development.
Mr. Edun revealed this in a statement released by the ministry’s Director of Information and Public Relations, Mohammed Manga, on Tuesday in Abuja.
Speaking at the 2025 KPMG ARISE TV Budget News Day, the minister outlined Nigeria’s fiscal priorities and economic direction for the upcoming year.
Mr. Edun emphasised the government’s dedication to fiscal discipline, revenue mobilisation, and fostering an improved investment climate.
According to him, the government projects a GDP growth rate of 4.6% for 2025, with a long-term goal of 7% annually — a critical target for poverty reduction and sustainable development.
The minister highlighted that macroeconomic stability remains a priority, with exchange rate stability, trade surplus, and increased oil production positioning Nigeria as a stronger global player.
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Mr. Edun noted that the country’s foreign reserves had surpassed $40 billion, which he described as a sign of confidence in the nation’s economic policies and financial management.
He stressed the essential role of the private sector in driving economic growth, underlining public-private partnerships (PPPs) as key mechanisms to close Nigeria’s $100 billion annual infrastructure investment gap.
According to him, major projects like the Benin-Asaba Highway and Lagos-Abeokuta Road will be developed under PPP frameworks to cut travel time and boost productivity.
The minister also pointed to the importance of domestic refining in the oil and gas sector, stating that the Dangote Refinery now leads local crude petroleum processing.
He explained that this shift would reduce dependency on imports, bolster energy security, and strengthen economic resilience.
Mr. Edun further discussed fiscal policy reforms, highlighting the government’s push to expand the tax base, streamline revenue collection, and create a business-friendly tax system.
He noted that the government would adopt a balanced approach to taxation — one that encourages investment while ensuring adequate funding for national priorities.
As Nigeria moves forward, Mr. Edun reaffirmed the government’s commitment to economic transformation through policies focused on growth, stability, and private sector participation.
He concluded by stating that by building on strategic reforms, Nigeria is poised to unlock new opportunities for prosperity, accelerate national development, and secure a brighter future for the next generation.
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