August 3, 2025 – The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has declared that innovation is the key driver of Nigeria’s economic transformation, calling it the foundation of productivity and inclusive development.
Speaking during the NSIA Prize for Innovation (NPI) Demo Day 3.0 over the weekend, Edun stated, “Nigeria’s transformation must be built on ideas, driven by our youth and anchored in inclusivity.” He stressed that over 65 percent of Nigerians are under 30, and the nation’s shift from potential to prosperity will depend on homegrown, scalable solutions developed by this youthful population.
Edun encouraged private sector players to make long-term investments in enterprise, saying, “Nigeria’s future growth will be fuelled by long-term investments.”
He assured stakeholders of the Federal Government’s commitment to unlocking patient capital through platforms such as the N200 billion Presidential MSME Fund and by simplifying regulations. The government, he said, is also ready to act as an early adopter of tech-enabled solutions.
He further announced upcoming policy tools including National Innovation Hubs, Youth Innovation Trusts, and the integration of coding into basic education to boost enterprise development across the country.
The Minister praised NSIA’s support for startups in sectors like healthcare, agriculture, and digital learning, highlighting the role of innovation in building a post-oil economy. “Our prosperity lies in our people,” Edun said. “And the boldest ideas that will define Nigeria’s economic future are only just beginning.”