TUE JAN 21 2025-theGBJournal| Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, said Monday, as he defended his Ministry’s 2025 budget, that Nigeria’s economy is making significant strides in recovery and growth.
The Minister used the time to also outlined the President Bola Ahmed Tinubu-led
Administration’s efforts to stabilize the economy through key reforms and fiscal measures.
He also emphasized the government’s commitment to infrastructure development, particularly in digital networks and energy, to improve productivity and attract private sector investments.
According to Edun, the broad impact of the reforms to include the liberalization of the foreign exchange market, deregulation of petroleum pricing, and the expansion of domestic refining capacity.
He explained that these measures are driving fiscal stability, reducing inefficiencies, and creating a more sustainable economic framework.
The Minister acknowledged, however, that while the reforms may bring short-term discomfort, their long-term benefits will include job creation, poverty reduction, and greater economic resilience.
He equally 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.
The Senate Committee on Finance approved the Ministry’s N38 billion 2025 budget, and commended it’s leadership for its commitment to fiscal discipline and economic recovery.
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