Nigeria’s economy is making significant strides in recovery and growth, as highlighted by the Honourable Minister of Finance & Coordinating Minister of the Economy, Mr. Wale Edun, during his 2025 budget defence before the Senate Committee on Finance.
The Minister was joined by the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, the Permanent Secretary of the Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya, the Accountant General of the Federation, Dr. Oluwatoyin Sakirat Madein, as well as directors from the Federal Ministry of Finance, as they outlined the administration’s efforts to stabilise the economy through key reforms and fiscal measures.
HM Edun highlighted the broad impact of reforms, including the liberalisation of the foreign exchange market, deregulation of petroleum pricing, and the expansion of domestic refining capacity. These measures are driving fiscal stability, reducing inefficiencies, and creating a more sustainable economic framework.
The Honourable Minister acknowledged that while the reforms may bring short-term discomfort, their long-term benefits will include job creation, poverty reduction, and greater economic resilience. He also emphasised the government’s commitment to infrastructure development, particularly in digital networks and energy, to improve productivity and attract private sector investments.
The Senate Committee on Finance approved the Ministry’s ₦38 billion 2025 budget, commending the Ministry’s leadership for its commitment to fiscal discipline and economic recovery. HM Edun expressed confidence in Nigeria’s brighter economic future, noting that the reforms will transform the country’s economic landscape and improve the standard of living for its citizens.
