Federal Government Urges Fiscal Reform, Global Cooperation at UN Summit
By Patience Ikpeme
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has called for urgent fiscal reforms at home and stronger global cooperation to support developing economies.
Speaking at the 4th International Conference on Financing for Development (FFD4) in Sevilla, Spain, Edun stated that self-reliance is crucial for Nigeria’s economic transformation in today’s evolving global landscape.
At a roundtable on domestic public resource mobilization, Minister Edun detailed Nigeria’s ongoing reforms. These efforts aim to improve tax administration and ensure fiscal discipline. He also explained government initiatives to create a favorable environment for private sector investment, describing it as vital for sustainable growth. “We are prioritizing digital infrastructure, transparency, and institutional reform to deliver more for Nigerians with every naira spent,” he explained, illustrating the government’s commitment to efficient public finance.
Minister Edun also spoke to the pressing need for greater international collaboration on tax fairness and combating illicit financial flows. He observed that African economies continue to face systemic disadvantages in these areas, which limit their development prospects. He urged stronger cooperation to ensure that resources meant for development are not lost to illicit channels, seeking a collective global response.
The conference gathered senior officials from the United Nations, OECD, European Union, and various development banks, alongside finance ministers from nations like Nepal, Malawi, and Uruguay. This diverse gathering provided a platform for sharing experiences and building partnerships to mobilize resources for development goals more effectively. Nigeria’s active participation, led by Minister Edun, solidified its role in shaping international financial policies.
As Nigeria continues its ambitious economic reforms, Minister Edun’s address at the UN Finance Summit clearly outlined the country’s priorities. His advocacy for fiscal discipline, transparency, and international cooperation shows Nigeria’s determination to achieve sustainable economic growth. “Our reforms are designed to ensure that every naira spent contributes to the prosperity of all Nigerians,” he said, drawing attention to the inclusive nature of the government’s economic agenda.
The Minister’s intervention at the FFD4 conference not only presented Nigeria’s progress but also requested a rebalancing of global finance systems to better support developing nations. The commitment expressed by Mr. Edun and the Nigerian government suggests a promising future where fiscal responsibility and global solidarity drive meaningful development.
