The Federal Government, FG, appears to be very optimistic over the economic performance, raising its Gross Domestic Product, GDP, projections for 2025 to 5.0 percent, significantly up from the 2025 target of 4.6 percent.
Recently, the International Monetary Fund, IMF, pegged the nation’s 2025 growth rate at 3.4 percent.
The new FG’s target came as the Minister of Finance, Wale Edun, also said that the government is creating an enabling environment for businesses to thrive as the establishment of Cheetos plant by PepsiCo, with 90% sourcing of raw materials locally reflects the bold reforms of President Bola Tinubu to stabilise the economy.
Speaking yesterday at both the ribbon cutting of the Cheetos plant and the collaboration partnership ceremony between PepsiCo and DP World, in Lagos, Edun stated: “With sustainable growth, the Gross Domestic Product, GDP is projected to grow by five percent this year. We are seeing real results from our pillars of reform — diversification, industrialisation, and job creation.
“By sourcing locally and creating jobs, this investment brings to life President Tinubu’s vision of a stronger, more inclusive economy.”
