The Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, yesterday declared that the federal government has adhered to the legal borrowing limit of five per cent from the Central Bank of Nigeria (CBN) despite challenges in the domestic and global economic environment.
The minister said Nigerians are already appreciating the gains of key reforms so far implemented by the President Bola Tinubu-led administration, stressing that the president greatly appreciates Nigerians’ support for the reforms.
Bagudu who spoke at the 2025 KPMG/Arise News Channel’s Budget Programme added that stability in the foreign exchange market and declining food inflation were evidence that Nigeria was reaping the gains of the reforms.
Also, speaking at the same the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, outlined Nigeria’s fiscal priorities and economic direction for the coming year.
Edun reaffirmed the government’s commitment to fiscal discipline, revenue mobilisation, and an improved investment climate.
He highlighted a projected GDP growth of 4.6 per cent for 2025, with a long-term ambition of 7.0 per cent annually, a crucial target for poverty reduction and sustainable development.
