The Federal Government has introduced a comprehensive economic plan aimed at promoting sustainable development, according to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
Edun shared details of the plan at the 2025 KPMG Arise TV Budget News Day in Abuja, where he outlined the government’s key financial and economic priorities for the year ahead. He emphasized the government’s commitment to maintaining financial discipline, increasing revenue, and creating a more attractive investment environment.
According to the minister, Nigeria’s economy is projected to grow by 4.6% in 2025, with a long-term goal of achieving 7% annual growth—an essential target for reducing poverty and ensuring sustainable development.
A key focus of the plan is maintaining economic stability by ensuring a stable exchange rate, achieving a trade surplus, and increasing oil production. Edun highlighted that Nigeria’s foreign reserves have now surpassed $40 billion, reflecting investor confidence in the country’s economic policies and financial management.
The minister also stressed the importance of the private sector in driving economic growth. He pointed out that Public-Private Partnerships (PPPs) will play a significant role in closing Nigeria’s annual infrastructure investment gap, estimated at $100 billion.
Some of the key infrastructure projects set to be developed under PPP arrangements include the Benin-Asaba Highway and the Lagos-Abeokuta Road. These projects aim to shorten travel times and boost economic productivity.
In the oil and gas sector, the government is prioritizing domestic refining to reduce reliance on imported fuel. With the Dangote Refinery now operational, local crude oil processing is expected to improve, enhancing Nigeria’s energy security and economic resilience.
Edun also spoke about tax reforms, stating that the government is working to expand the tax base, improve revenue collection, and simplify the tax system to make it more business-friendly. He assured that the tax policy would strike a balance—encouraging investment while ensuring sufficient funding for national priorities.
Looking ahead, the minister emphasized that Nigeria’s economic transformation will be driven by policies that promote stability, growth, and private-sector participation. He expressed confidence that ongoing reforms will unlock new opportunities, accelerate national development, and create a brighter future for future generations.
