The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has stated that the country’s economy is making significant strides in recovery and growth.
The Minister made the disclosure in Abuja on Monday during the 2025 budget defence before the Senate Committee on Finance.
The Minister outlined the incumbent administration’s efforts to stabilise the economy through key reforms and fiscal measures.
Edun highlighted the broad impact of the reforms to include the liberalisation of the foreign exchange market, deregulation of petroleum pricing, and the expansion of domestic refining capacity.
He explained that these measures are driving fiscal stability, reducing inefficiencies, and creating a more sustainable economic framework.
The Minister acknowledged, however, that while the reforms may bring short-term discomfort, their long-term benefits will include job creation, poverty reduction, and greater economic resilience.
He emphasised the government’s commitment to infrastructure development, particularly in digital networks and energy, to improve productivity and attract private sector investments.
The Senate Committee on Finance approved the Ministry’s N38 billion 2025 budget, while commending the Ministry’s leadership for its commitment to fiscal discipline and economic recovery.
