The Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, has stated that the Nigerian economy is making significant progress in recovery and growth.
He made the disclosure on Monday in Abuja during the defense of the 2025 budget before the Senate Finance Committee.
Edun, who was joined by the 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 as heads of the ministry, outlined the efforts of the President Bola Ahmed Tinubu-led administration to stabilize the economy through key reforms and fiscal measures.
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Edun highlighted the broad impact of the reforms to include the liberalization of the foreign exchange market, the deregulation of oil prices and the expansion of domestic refining capacity.
He explained that these measures are boosting fiscal stability, reducing inefficiencies and creating a more sustainable economic framework.
However, the Minister acknowledged that while the reforms may cause short-term unrest, their long-term benefits will include job creation, poverty reduction and greater economic resilience.
He highlighted the government's commitment to infrastructure development, particularly in digital networks and energy, to improve productivity and attract private sector investment.
In a statement, Mohammed Manga, Director of Information and Public Relations at the Federal Ministry of Finance, said the Senate Finance Committee approved the Ministry's budget of N38 billion for 2025.
They praised the Ministry's leadership for its commitment to fiscal discipline and economic recovery.
Edun expressed confidence in a brighter economic future for Nigeria, noting that the reforms will transform the country's economic landscape and improve the standard of living of its citizens.
NIGERIAN TRIBUNE