Nigeria’s economic reforms are beginning to stabilise the economy and restore investor confidence, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said.
Speaking on the sidelines of the World Bank and IMF Spring Meetings in Washington D.C., Edun noted that policy changes introduced since 2023 reflect a deliberate shift from short-term fixes to long-term structural reforms aimed at building resilience.
He explained that measures such as foreign exchange market adjustments and the removal of fuel subsidies were central to correcting longstanding economic imbalances and improving the country’s ability to withstand external shocks.
Despite persistent global uncertainties, including tighter financial conditions and trade disruptions, Edun said Nigeria is maintaining fiscal discipline to create a more stable foundation for growth.
He acknowledged that inflation remains a concern, driven by energy costs, food supply challenges and transportation expenses, but said targeted interventions are being implemented to support vulnerable populations and boost agricultural production.
According to him, economic performance is showing signs of improvement, with growth now exceeding four per cent, external reserves nearing $50 billion and inflationary pressures gradually easing.
Edun added that investor confidence is returning, pointing to large-scale investments like the Dangote Refinery and increased activity among small and medium-sized enterprises benefiting from an improved business environment.
He expressed optimism that the economy is entering a phase of accelerated growth, with potential job creation across key sectors such as power, agriculture, infrastructure and technology.
Also speaking, Central Bank Governor Olayemi Cardoso said monetary authorities remain aligned with the reform agenda, noting that consistency in policy implementation will be critical to sustaining stability, strengthening investor trust and supporting long-term economic expansion.
