Finance Minister Wale Edun has reaffirmed the private sector as the driving force behind Nigeria’s economic revival, noting that President Bola Tinubu’s bold reforms are beginning to yield results.
Speaking in Abuja at the 60th Anniversary and 55th Annual Accountants’ Conference of the Institute of Chartered Accountants of Nigeria (ICAN), Edun praised the Institute for six decades of distinction, professionalism, and accountability in nation-building.
“We are witnessing the dawn of a new era — one that rewards innovation, enterprise, and productivity over rent-seeking,” Edun declared.
The Minister highlighted encouraging economic indicators that point to renewed momentum: GDP growth of over 4% in Q2 2025, industrial output up by 7.45%, and inflation easing to 20.1% as of August.
Nigeria, he said, also recorded a ₦7.4 trillion trade surplus, while foreign reserves rose to $42 billion and the naira stabilised, narrowing the gap between official and parallel market rates.
Edun credited these gains to the administration’s commitment to fiscal discipline, transparency, and a market-driven growth strategy designed to empower entrepreneurs and investors.
“The private sector contributes about 90% of Nigeria’s GDP. Government’s role is to create the conditions that allow businesses to thrive—not to compete with them,” he noted.
Looking ahead, Edun reaffirmed the government’s target of 7% GDP growth, anchored on infrastructure investment, export expansion, and digital transformation in public financial management.
He commended ICAN for its steadfast role as a moral and professional compass in the financial sector, saying its legacy of integrity continues to strengthen accountability and economic governance in Nigeria.