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Edun reels out key reforms for Nigeria economic recorvery

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The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun has reeled out key reforms introduced by President Bola Ahmed Tinubu’s Administration to stabilize the nation’s economy, reduce poverty, and foster sustainable development.

The Minister disclosed this in his keynote address at Access Bank’s Corporate Customer Forum 2024, held at Eko Hotels in Lagos, Thursday.

The event, themed: Nigeria’s Economic Rebirth: Hopes and Implications, brought together stakeholders from various sectors to discuss the country’s growth prospects.
A statement by the director of Information and Public Relations Muhammed Manga, quoted Edun to have reported encouraging signs of economic progress, including improvements in GDP growth, stabilized exchange rates, and increased government revenue.

He however, acknowledged ongoing challenges, such as inflation and foreign exchange pressures, assuring that initiatives like the Accelerated Stabilization and Advancement Program (ASAP), among others, are being implemented to address the issues.

The Minister also detailed plans to boost agricultural production, including a program to support 360,000 farmers, aiming for a yield of 1.4 million metric tons of key crops.

Emphasizing the government’s medium-term priorities, Edun called for greater private sector involvement and underscored the importance of public-private partnerships in key sectors like mining, power, and agriculture in order to further enhance the economy for the future of our nation

The forum also highlighted Access Bank’s sustainability initiatives, including its commitment to green projects as well as recent expansion into Kenya.

He commended Access Bank for facilitating crucial discussions on leveraging technology, adopting sustainable practices, and promoting inclusivity to drive Nigeria’s economic progress.

The Minister emphasized the need to leverage technology, adopting sustainable practices, and promoting inclusivity as sure strategy in driving Nigeria’s economic progress.
“It will also maximize resources, provide opportunities for job creation, and ultimately pave the way for Nigeria’s economic transformation.

The minister’s address at the Access Bank Forum 2024 underscored the government’s unwavering commitment to fostering economic growth and sustainable development in Nigeria.
“With groundbreaking reforms already underway and a strategic focus on private sector involvement, Nigeria is poised for economic rebirth.

This renewed emphasis on collaboration and private investment is expected to drive economic progress, create jobs, and reduce poverty align with the federal government’s shift towards leveraging domestic resources and internal revenue generation

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Finance

Finance Ministry Honors Retirees says their dedication ushered Nigeria’s Economic Growth

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In a poignant farewell ceremony, the Federal Ministry of Finance celebrated the remarkable contributions of its retirees, emphasizing their pivotal role in shaping Nigeria’s economic policies and development.

Dr. Doris Uzoka-Anite, the Minister of State for Finance, led the tributes, hailing the retirees as torchbearers of fiscal responsibility and economic progress.
“Your expertise and dedication have set the foundation for sustainable growth and inspired the next generation of civil servants,” she said.
The event, attended by ministry officials and stakeholders, highlighted the retirees’ instrumental efforts in advancing Nigeria’s economic stability.
Permanent Secretary Mrs. Lydia Shehu Jafiya lauded their legacy of integrity and excellence, urging them to see retirement as a new chapter of opportunities.

Dr. Uzoka-Anite also conveyed the commendation of Mr. Wale Edun, the Coordinating Minister of the Economy, who praised the retirees for their indelible impact on the nation’s developmental priorities.

As the retirees step into a new phase of life, the Ministry affirmed its commitment to upholding the high standards they established, ensuring their legacy continues to drive Nigeria’s economic aspirations.

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Finance

Wale Edun Champions Bold Reforms, Innovative Financing at IsDB Governors’ Retreat

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The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has called for groundbreaking reforms and smarter financing strategies during the Islamic Development Bank (IsDB) Governors’ Retreat in Al-Madinah, Saudi Arabia.
His advocacy is coming now that Nigeria is dedicated to reshaping development financing to meet the demands of a changing global economy.
Speaking to key stakeholders at the retreat, Mr. Edun emphasized the need for transformative, high-impact investments in critical sectors such as infrastructure, agriculture, rail, and energy.
The Director of information and public relations Muhammed Manga in a statement quoted Edun to have urged the IsDB to prioritize initiatives with robust returns, ensuring sustainability while fostering economic growth.
The Honourable Minister emphasized the need for the IsDB to rethink its approach to development financing in response to current economic realities.
He called for transformative, high-impact projects in infrastructure, agriculture, rail, and energy, urging the bank to focus on investments with strong returns to ensure sustainable financing.
Edun also highlighted the importance of innovative funding solutions tailored towards national priorities and debt dynamics, stressing the urgent need for a concessional financing strategy that balances development goals with minimal debt accumulation.
The retreat also featured key contributions from Algeria’s Minister of Finance and Chairman of the Board of Governors, H.E. Laaziz Faid, and Saudi Arabia’s Finance Minister, H.E. Mohammed Al-Jadaan, who opened the discussions.
Responding to the bank’s call for input, Edun also stressed the need for robust monitoring systems to evaluate the real impact of the bank’s initiatives. His remarks reflected Nigeria’s commitment to strengthening the IsDB’s role in delivering greater results for its member states.
The retreat served as a forum for governors to provide ideas and feedback on the IsDB’s 10-year strategy (2026–2035), which aims to chart a clear path for addressing pressing development challenges in a rapidly changing global landscape.
As the IsDB embarks on its new 10-year strategy, Edun’s advocacy for innovative financing, bold reforms, and robust monitoring underscores Nigeria’s dedication to driving transformative change and sustainable development in the region. The collaborative efforts of the IsDB and its member states will be crucial in achieving this vision and creating a brighter future for generations to come.

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Finance

Finance Minister Calls for Unified Effort in Driving Nigeria’s Economic Transformation

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***Urges Top Management Staff to Collaborate for National Growth

In a renewed bid to revitalize Nigeria’s economy, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has called on the Ministry’s top management staff to leverage their expertise in implementing the country’s ambitious economic reforms.
Speaking during the assumption of office by the new Permanent Secretary Special Duties, Mr. Raymond Omenka Omachi, Edun underscored the need for teamwork and collaboration to achieve the government’s developmental objectives.
The director of of Information and Public Relations, Muhammed Manga in a statement quoted the minister to have highlighted that the reforms led by President Bola Ahmed Tinubu’s administration are geared toward improving the quality of life for Nigerians, with a focus on sustainable growth and development.

Edun further expressed appreciation for the contributions of Dr. Doris Uzoka-Anite, the Honourable Minister of State for Finance, commending her unwavering support in driving the nation’s economic agenda.

“We must work together to manage the nation’s finances in an open, transparent, accountable, and efficient manner that delivers on our developmental priorities,” said Edun. His remarks come as the Ministry embarks on its key role in shaping the nation’s economic trajectory.
Responding to the call, Mr. Raymond Omachi, pledged to support the Ministry’s leadership while emphasizing the importance of communication, innovation, and hard work in achieving the set goals. “We will operate an open-door policy, encouraging ideas and innovations to improve our service delivery,” Omachi said, stressing the need for collective efforts to ensure the successful implementation of the economic reforms.

With this shared vision of unity and progress, the Federal Ministry of Finance is set to play a crucial role in driving Nigeria’s economic growth and improving the lives of its citizens, fulfilling the promises of the current administration.

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