Abuja: The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced that the Federal Government has unveiled a comprehensive economic plan aimed at sustainable development. Edun made this revelation during the 2025 KPMG Arise TV Budget News Day, presenting Nigeria’s fiscal priorities and economic direction for the forthcoming year.
According to News Agency of Nigeria, the government is committed to fiscal discipline, revenue mobilization, and improved investment in climate initiatives. Edun highlighted the government’s projection of a GDP growth rate of 4.6 percent for 2025, with a long-term goal of reaching seven percent annually. This growth target is seen as crucial for poverty reduction and sustainable development.
The minister emphasized macroeconomic stability as a priority, focusing on exchange rate stability, achieving a trade surplus, and boosting oil production to position Nigeria as a more robust global player. Foreign reserves have surpassed 40 billion dollars, signaling confidence in the country’s economic policies and financial management.
Edun underscored the importance of the private sector in driving economic growth, highlighting Public-Private Partnerships (PPPs) as a key mechanism to address the 100 billion dollars annual infrastructure investment gap. Landmark projects, such as the Benin-Asaba Highway and the Lagos-Abeokuta Road, are set to be developed under PPP frameworks to reduce travel time and enhance productivity.
In the oil and gas sector, domestic refining is noted as a priority, with the Dangote Refinery leading local crude petroleum processing efforts. This shift aims to reduce reliance on imports, strengthen energy security, and enhance economic resilience.
Edun also discussed fiscal policy reforms, focusing on expanding the tax base, streamlining revenue collection, and fostering a business-friendly tax system. A balanced approach to taxation is expected to encourage investment while ensuring adequate funding for national priorities.
As Nigeria moves forward, the government is dedicated to economic transformation through policies that foster growth, stability, and private sector participation. Building on strategic reforms, the country is poised to unlock new opportunities for prosperity, accelerate national development, and secure a brighter future for future generations.