FG Targets Stability and Growth with Private Sector at the Centre
By Patience Ikpeme
The Federal Government has unveiled a strategic plan to achieve renewed economic stability and accelerated growth, anchored on private sector-led investment, job creation, and improved public services.
Speaking at a media briefing in his office in Abuja on Thursday, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said the government’s approach is built on two interconnected goals — maintaining a stable macroeconomic environment to support private sector expansion and strengthening government savings for targeted public investment in key sectors.
According to him, this twin-track strategy is designed to drive economic growth, generate quality jobs, and improve essential services such as education, health, and infrastructure.
“Our task is to translate this into tangible improvements in the lives of Nigerians, through principally more jobs, and quality jobs that give higher incomes, and of course better public services,” Edun stated.
Edun said that despite global economic uncertainties, Nigeria’s economy is showing signs of diversification, with trade, communications, and construction among the key drivers of growth.
He noted that gross domestic product (GDP) grew by 3.13 per cent in the first quarter of 2025, compared with 2.3 per cent in the corresponding period of 2024, while inflation eased to 22.22 per cent in June 2025. The country’s foreign exchange reserves, he added, stood at about $39 billion in July 2025.
The minister also revealed that the government has cleared outstanding capital budget obligations and is now focusing its expenditure on critical sectors.
“We are targeting 7 per cent annual GDP growth, driven by private investment, infrastructure expansion, energy security, and food production,” Edun said. “Our fiscal discipline and structural reforms are designed to build investor confidence and position Nigeria for sustainable, inclusive growth.”
The Minister outlined key initiatives, including policies to support private enterprise, investment in infrastructure, and measures to boost agricultural output.
He stressed the importance of a coordinated approach to economic management: “We are committed to a coordinated fiscal and monetary policy framework that can substantially and sustainably reduce inflation, enabling cheaper capital for businesses so they can invest, and of course, greater purchasing power for households.”
Edun said the administration remains committed to ensuring that public resources deliver maximum impact for citizens.
“Nigeria’s future growth depends on effective, honest, and targeted spending. We must ensure that public resources work harder for our people and our economy,” he stated.
The minister added that the government’s long-term objective is to build an economy that is transparent, resilient, and purposeful — one that works for everyone.
Looking ahead, Edun expressed optimism that ongoing reforms will continue to strengthen the economy, create jobs, and enhance public services.
“With this strategic approach, the Federal Government is confident that Nigeria’s economy will achieve renewed stability and accelerated growth, improving the lives of Nigerians and positioning the country for a brighter future,” he said.
