The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has reaffirmed Nigeria’s position as a stable and attractive destination for investment.
Speaking at the Nigeria Investment Forum during the ongoing IMF and World Bank Spring Meetings in Washington, Edun outlined the country’s commitment to fiscal reforms and economic stability.
Addressing international investors, Edun stated that the Federal Government is implementing policies aimed at sustaining macroeconomic stability, increasing productivity and encouraging private sector participation.
He emphasized that recent structural reforms have started yielding results with visible improvements in key economic indicators.
According to Edun, one of the major steps taken by the administration is the overhaul of the Nigerian National Petroleum Company Limited.
The restructured NNPCL has been mandated to increase oil production and reduce operating costs. This is part of a broader effort to improve public revenue and drive efficient asset management.
He added that the optimisation of government assets is central to closing fiscal gaps and boosting economic performance.
The government remains committed to maintaining fiscal discipline while prioritising growth and investment.
Edun also stressed the importance of respecting the sanctity of contracts as a foundation for investor confidence.
“Our goal is to maintain and accelerate economic momentum. We are targeting seven percent annual GDP growth and we believe the policies introduced under President Tinubu’s administration have laid the groundwork to achieve this” Edun said.
The minister noted that Nigeria is beginning to see signs of macroeconomic stability, a narrowing fiscal deficit, a stabilising exchange rate and an improving trade balance.
He highlighted agriculture as a top priority for sectoral growth with an emphasis on scaling domestic production to enhance food security.
He said the government is focusing on enabling local producers to expand rather than relying on imports. The full agricultural value chain is being developed as a means of boosting productivity and creating jobs.
In the area of digital infrastructure, Edun revealed that 90000 kilometers of fibre optic cable have been laid nationwide to strengthen broadband connectivity.
He added that 4000 kilometers of roads have been tendered for private sector participation with 1000 kilometers already signed for implementation.
Meanwhile, the Governor of the Central Bank of Nigeria Mr Yemi Cardoso, said that the difficult policy decisions made over the past 18 months are beginning to yield results.
He confirmed that macroeconomic conditions are stabilising and investor confidence is gradually returning.
Cardoso referenced Nigeria’s recent credit rating upgrade by Fitch as a sign of progress. He added that despite operating in a period of global uncertainty, the economic team is focused on building a stronger and more resilient economy.
The Federal Government’s strategic reforms continue to attract attention from global financial institutions and investors as Nigeria positions itself for long-term sustainable growth.
