By Hillary Asemota
Nigeria’s economic future took a significant step forward on Monday as the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun unveiled a comprehensive economic plan at the 2025 KPMG Arise TV Budget News Day.
The Minister at the meeting outlined Nigeria’s fiscal priorities and economic direction for the coming year, charting it’s road map, stability and growth.
Edun, reaffirmed the government’s commitment to fiscal discipline, revenue mobilization, and an improved investment climate.
He highlighted a projected GDP growth of 4.6% for 2025, with a long-term ambition of 7% annually, a crucial target for poverty reduction and sustainable development.
He emphasized that macroeconomic stability remains a top priority, with exchange rate stability, trade surplus, and increased oil production positioning Nigeria as a stronger global player. Foreign reserves have exceeded $40 billion, signalling confidence in economic policies and financial management.
On driving private sector investment and infrastructure growth, the key theme of Edun’s address was the role of the private sector in driving economic expansion.
The Director of Public Affairs at the Ministry, Mr. Mohammed Manga, said the Minister highlighted public-private partnerships (PPPs) as a critical tool to close Nigeria’s $100 billion annual infrastructure investment gap.
Landmark projects such as the Benin-Asaba Highway and Lagos-Abeokuta Road are set to be developed under PPP frameworks, reducing travel time and boosting productivity.
In the oil and gas sector, HM Edun emphasized the importance of domestic refining, with the Dangote Refinery now leading local crude petroleum processing. This shift will significantly reduce reliance on imports, strengthen energy security, and enhance economic resilience.
Edun also addressed fiscal policy reforms, stressing the government’s drive to expand the tax base, streamline revenue collection, and create a business-friendly tax system. He noted that a balanced approach to taxation will encourage investment while ensuring adequate funding for national priorities.
According to him, the government’s dedication to economic transformation, driven by policies that foster growth, stability, and private sector participation.
Building on strategic reforms, Nigeria is poised to unlock new opportunities for prosperity, accelerate national development, and secure a brighter future for generations to come.
