August 14, 2025 – The Federal Government has unveiled its plan for renewed stability and faster economic growth, placing emphasis on private sector-led investment, job creation, and improved public services.
Speaking during a media briefing in Abuja, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, outlined the administration’s vision for a more prosperous Nigeria.
He explained that the strategy is anchored on two key objectives: achieving a stable macroeconomic environment to support private sector growth and building stronger government savings alongside public investment in vital sectors like education, health, and infrastructure.
“Our task is to translate this into tangible improvements in the lives of Nigerians, through principally more jobs, and quality jobs that give higher incomes, and of course better public services,” Edun said.
Despite challenges from the global economy, the Minister highlighted that Nigeria’s economy is becoming more diversified, with growth coming from sectors such as trade, communications, and construction. He revealed that GDP growth stood at 3.13% in the first quarter of 2025, up from 2.3% in the same period last year.
Inflation moderated to 22.22% as of June 2025, while foreign exchange reserves were at approximately $39 billion in July 2025.
Edun noted that the government has settled outstanding capital budget obligations and is focusing spending on critical sectors. The administration is targeting 7% annual GDP growth, supported by private investment, infrastructure development, energy security, and increased food production.
He added that key initiatives include implementing policies to boost private sector growth, improving infrastructure, and promoting agricultural development.
“Our fiscal discipline and structural reforms are designed to build investor confidence and position Nigeria for sustainable, inclusive growth,” Edun stated.
The Minister emphasized the importance of coordinated fiscal and monetary policies aimed at reducing inflation in a substantial and sustainable manner. “This will enable cheaper capital for businesses so they can invest, and of course, greater purchasing power for households,” he explained.
Edun stressed the government’s commitment to building an economy that works for everyone, anchored on transparency, resilience, and purpose. “Nigeria’s future growth depends on effective, honest, and targeted spending. We must ensure that public resources work harder for our people and our economy,” he said.
The government believes that with these reforms, the economy will continue to grow and diversify. Private sector-led investment, job creation, and improved public services remain central to its approach.
By driving growth through critical sectors, maintaining fiscal discipline, and strengthening investor confidence, the Federal Government is confident that the country will achieve renewed stability and accelerated growth.
This vision, according to the Minister, will improve the lives of Nigerians and position the nation for a brighter future.