Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced significant progress in the country’s economic recovery and growth.
Speaking on Monday during the 2025 budget defense before the Senate Committee on Finance in Abuja, Edun highlighted the federal government’s critical reforms and fiscal policies as key drivers of this transformation. 
The Minister, accompanied by the Minister of State for Finance, Dr. Doris Uzoka-Anite, and other top officials, explained that President Bola Tinubu’s administration is committed to stabilizing the economy through targeted initiatives.
These include the liberalization of the foreign exchange market, deregulation of petroleum pricing, and expansion of domestic refining capacity.
“These reforms are driving fiscal stability, reducing inefficiencies, and creating a more sustainable economic framework,”
Edun stated, adding that while the measures may cause short-term discomfort, their long-term benefits will include job creation, poverty reduction, and enhanced economic resilience.
Furthermore, Edun outlined the government’s focus on infrastructure development, especially in energy and digital networks, to boost productivity and attract private sector investment.
He noted that these efforts align with the administration’s broader goals of reducing inefficiencies and promoting sustainable economic growth.
The Senate Committee on Finance approved the Ministry of Finance’s ₦38 billion 2025 budget, commending its leadership for maintaining fiscal discipline.
Expressing optimism, the Finance Minister emphasized that these reforms will transform Nigeria’s economic landscape.
“These reforms will improve the standard of living for citizens and create a more resilient economy,” he added.
However, with an emphasis on addressing structural inefficiencies, the administration aims to ease the economic hardships faced by Nigerians and foster a more inclusive and prosperous future.
