NEWS
FG unveils comprehensive economic plan for Nigeria
Government is committed to fiscal discipline, revenue mobilisation, and an improved investment climate
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the Federal Government has unveiled a comprehensive economic plan for sustainable development.Edun disclosed this in a statement issued by the Ministry’s Director of Information and Public Relations, Mr Mohammed Manga, on Tuesday in Abuja.
The minister, who unveiled the plan at the 2025 KPMG Arise TV Budget News Day, also outlined Nigeria’s fiscal priorities and economic direction for the coming year.
Edun said that government was commitment to fiscal discipline, revenue mobilisation, and an improved investment climate.
According to him, the government has projected GDP growth of 4.6 per cent for 2025, with a long-term ambition of seven per cent annually, a crucial target for poverty reduction and sustainable development.
The minister said that the macroeconomic stability remained priority, with exchange rate stability, trade surplus, and increased oil production positioning the country as a stronger global player.
Edun said that the foreign reserves had exceeded 40 billion dollars signalling confidence in economic policies and financial management.
He emphasised the crucial role of the private sector in driving economic growth, highlighting Public-Private Partnerships (PPPs) as a key mechanism to bridge Nigeria’s 100 billion dollars annual infrastructure investment gap.
According to him, landmark projects, including the Benin-Asaba Highway and the Lagos-Abeokuta Road, are to be developed under PPP frameworks, aim to reduce travel time and enhance productivity.
The minister said that in the oil and gas sector, domestic refining was important, with the Dangote Refinery now leading local crude petroleum processing.
He said that the shift would significantly reduce reliance on imports, strengthen energy security, and enhance economic resilience.
Edun also addressed fiscal policy reforms, the government’s drive to expand the tax base, streamline revenue collection, and create a business-friendly tax system.
He said that a balanced approach to taxation would encourage investment while ensuring adequate funding for national priorities.
The minister said that as the country moved forward, the government was dedicated to economic transformation, driven by policies that fostered growth, stability, and private sector participation.
Edun said that building on strategic reforms, Nigeria was poised to unlock new opportunities for prosperity, accelerate national development, and secure a brighter future for generations to come.
