Nigeria’s Economic Management Team (EMT), led by the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has unveiled bold strategies to stabilize the country’s foreign exchange (FX) market and drive economic growth.

At a high-level meeting in Abuja, the Central Bank of Nigeria (CBN) presented a series of reforms aimed at improving FX market efficiency, boosting liquidity, and restoring investor confidence. The Ministry of Agriculture also provided updates on agricultural performance and plans to strengthen food security in 2025.
Director of informagion and Publlic relations, Muhammed Manga in a statement indicated the Apex Bank highlighted key reforms, including the launch of the Electronic Foreign Exchange Matching System (EFEMS) to enhance transparency and efficiency in the FX market.
To stabilize financial markets, the bank announced the phasing out of high-interest FX swaps and revealed that 80% of FX forward obligations had already been settled.
These measures, alongside maintaining robust external reserves, the statement indicated have contributed to improved liquidity and exchange rate appreciation.
The reforms reflect the government’s commitment to strengthening economic resilience and creating a more transparent and efficient FX market to support sustainable growth.
The Ministry of Agriculture reported a 4.5% increase in crop production during the 2024 wet season but acknowledged rising production costs and food price inflation.
Maize production costs surged by 69.7%, while cowpea prices spiked by 300%, exacerbating food crises in 31 states, especially in the North East.
The statement indicated that Mechanization improved marginally, with 2% growth in tractor use and a 2.3% increase in cultivated farmland.
Looking ahead, the government plans to scale up hybrid seed production and climate-smart technologies, Promote export crops such as cocoa, sesame, and ginger to boost revenue, invest in rural infrastructure, including cold chain facilities feeder roads, and electrification to support farming and reduce post-harvest loses.
Edun commended the CBN’s reforms and agricultural progress, urging stakeholders to build on the momentum.

“We remain focused on ensuring stability in the FX market, enhancing food security, and fostering sustainable growth. These reforms align with President Bola Ahmed Tinubu’s Renewed Hope Agenda and will deliver affordable food and improved living standards for Nigerians,” he said.
With ongoing reforms in the FX market and agriculture, the EMT expressed confidence in Nigeria’s ability to overcome current economic challenges and achieve long-term prosperity

The Federal Government has announced a transformative ₦50 trillion budget for 2025, setting ambitious targets to accelerate economic growth, reduce poverty, and enhance the living standards of Nigerians.

Unveiling the plan at a Citizens and Stakeholders Engagement Session in Abuja, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, outlined strategic priorities aimed at building on President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Durector of information and public relations in the Ministry, Muhammed Manga in a statement quoted Edun to have highlighted key achievements, to include a fiscal deficit reduction to 4.4%, a dramatic drop in the debt service-to-revenue ratio, from 149% in 2023 to 67%,Foreign reserves boosted by $10 billion, now standing at $42 billion and GDP growth of 3.5%, with projections of 4.6% in 2025 and over 6% by 2027.
“These reforms demonstrate our commitment to laying a solid foundation for sustained and inclusive economic growth,” Edun said.
He enumerated key sectoral investments to Expansion of compressed natural gas (CNG), LPG, and renewable energy initiatives, alongside increased local refining capacity.
In agriculture indicated that Large-scale dry and wet season farming was embarked upon to enhance food security and job creation.
In Industry he pointed to the Investments in Nigeria’s thriving digital economy and local manufacturing to drive industrialization.
In Social Protection he said Direct benefit transfers and low-interest SME loans were rolled out to empower small businesses and alleviate poverty.
The ₦50 trillion proposed budget he indicated included ₦35 trillion in projected revenue which nearly double the 2024 level.
“Strategic investments will focus on infrastructure, social welfare, consumer credit, housing, and healthcare.”
Edun stressed the importance of mobilizing $20 billion in investments annually to achieve Nigeria’s economic growth targets by 2027.

The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, reiterated the Ministry’s commitment to transparency and efficient resource management.
She described the Ministry’s performance in 2024 as commendable, particularly in revenue generation.

“Through deliberate reforms, Nigeria is firmly on the path to becoming a global economic powerhouse,” Uzoka-Anite said.
Mr. Edun expressed optimism about Nigeria’s trajectory, saying: “Our bold reforms and investments are setting the stage for a prosperous future where every Nigerian can thrive.”

The session underscores the Federal Government’s dedication to transforming Nigeria’s economy through robust reforms and people-centered policies.

The Federal Ministry of Finance has applauded the Petroleum Technology Development Fund (PTDF) for sponsoring a Leadership and Management Masterclass that aims to boost the competencies of the Ministry’s top management staff in effectively managing Nigeria’s economic resources.

At the opening of the program, Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Ministry, commended PTDF for its commitment to strengthening governance through targeted capacity-building initiatives. Represented by Mrs. Olusola Dada, Director of Human Resources, Mrs. Jafiya emphasized that leadership in public service today requires more than technical expertise. It requires strategic vision, adaptability, and the ability to lead diverse teams to achieve shared national goals.

She highlighted the significance of the training in equipping top management with the necessary tools to excel in their roles, driving excellence in public service, and supporting the government’s Renewed Hope Agenda.
Mrs. Jafiya also thanked Betterways Nigeria Limited for facilitating the program, ensuring that it was tailored to the specific leadership and management needs of the Ministry’s staff.
Director of Information and Public Relations, Mohammed Manga in a statement quoted Mrs. Jafiya to have acknowledged the leadership of Mr. Wale Edun, the Honourable Minister of Finance and Coordinating Minister of the Economy.
She expressed gratitude to PTDF for their generous sponsorship and for supporting the Ministry in its mission to manage Nigeria’s economic resources effectively.

In his remarks, Alhaji Ahmed Galadima Aminu, Executive Secretary of PTDF, represented by Alhaji Zanna Waziri, Deputy General Manager of PTDF, reiterated the Fund’s commitment to supporting the Ministry in building the capacity of its staff.
PTDF aims to ensure that leadership within the Ministry is capable of guiding Nigeria’s economic resources towards a prosperous future.

Dr. Victor Dare, Group Managing Director of Betterways, also praised the collaborative effort and called on participants to engage actively in the program, leveraging their collective experience to drive positive change in the management of the nation’s economic resources.

The Permanent Secretary concluded by encouraging all participants to apply the knowledge gained from the masterclass to enhance the Ministry’s operations and contribute to Nigeria’s overall development.