FG Targets 4.6% GDP Growth in 2025
By Patience Ikpeme
The Federal Government has projected Nigeria’s Gross Domestic Product (GDP) to grow by 4.6% in 2025, with a long-term target of 7% annually.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced this on Monday at the 2025 KPMG Arise TV Budget News Day in Abuja.
Edun outlined the government’s economic plan, stating that achieving the growth target requires fiscal discipline, revenue mobilization, and an improved investment climate.
He noted that macroeconomic stability remains a top priority, with exchange rate stability, a trade surplus, and increased oil production positioning Nigeria as a stronger global player.
The country’s foreign reserves have now exceeded $40 billion, reflecting confidence in economic policies and financial management.
On infrastructure development, Edun explained that public-private partnerships (PPPs) will play a key role in closing Nigeria’s $100 billion annual infrastructure investment gap.
He cited projects such as the Benin-Asaba Highway and Lagos-Abeokuta Road, which will be developed under PPP frameworks to enhance connectivity and productivity.
In the oil and gas sector, Edun spoke on the importance of domestic refining, stating that the Dangote Refinery now leads local crude petroleum processing. This shift is expected to reduce reliance on imports, strengthen energy security, and improve economic resilience.
Addressing fiscal policy reforms, Edun said the government is focused on expanding the tax base, streamlining revenue collection, and creating a business-friendly tax system. He noted that a balanced approach to taxation will encourage investment while ensuring sufficient funding for national priorities.
As Nigeria moves forward, Edun stated that the government remains committed to economic transformation through policies that promote growth, stability, and private sector participation. With ongoing reforms, the country is positioned to unlock new opportunities, drive development, and secure long-term prosperity.
