In a bold step towards fortifying Nigeria’s economic framework, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has called for stronger collaboration and unity in fiscal management to drive national development.
Speaking at the High-Level Retreat on Strengthening Collaboration for Sustainable Financial Management and National Development, Edun emphasized the need for a cohesive approach among government agencies, private sector stakeholders, and policymakers to address Nigeria’s fiscal challenges effectively.
Director of Information and Public Relations Mohammed Manga, in a statement on Thursday indicated that the two-day event, held at the Congress Hall, Transcorp Hilton Abuja, was organized by the Federal Ministry of Finance and brought together members of the National Assembly, Heads of Government Agencies, and senior officials to deliberate on strategies for bolstering fiscal governance and economic resilience.
In his virtual address, the Honourable Minister reaffirmed the Federal Government’s commitment to optimizing national assets and increasing private-sector participation in economic growth.
“This retreat underscores our dedication to fostering stronger financial governance through collaboration. By aligning our efforts, we can refine budgetary processes, enhance transparency, and improve resource allocation for long-term economic stability,” Edun stated.
He highlighted notable economic gains in recent months, citing a 3.40% GDP growth in 2024, improved oil production, and enhanced revenue collection. According to him, these achievements stem from key fiscal reforms, including the removal of petrol subsidies, advancements in tax policy, and automation of revenue collection systems.
A major focus of discussions was the role of the private sector in driving financial sustainability. Edun stressed that a robust private sector would not only boost government revenues through taxation but also reduce dependency on borrowing and enhance economic diversification.
The retreat also featured a technical session on post-reform economic expansion, where Edun led discussions on Nigeria’s Renewed Hope economic agenda. He outlined the government’s commitment to improving public financial management, prioritizing capital expenditure, and enacting regulatory reforms to attract both local and foreign investments.
Distinguished dignitaries who delivered goodwill messages included Minister of Budget and Economic Planning, Senator Abubakar Bagudu, Minister of State for Finance, Dr Doris Uzoka-Anite, Permanent Secretary of the Federal Ministry of Finance, Mrs Lydia Shehu Jafiya, Permanent Secretary for Special Duties, Mr Raymond Omenka Omachi, Deputy Governor of the Central Bank, Mohammed Abdullahi, as well as representatives of the Minister of Information and National Orientation, Alhaji Mohammed Idris, the Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, the Federal Inland Revenue Service (FIRS), and the Debt Management Office (DMO).
With this renewed focus on fiscal partnerships and structural reforms, Nigeria is set to enter a new phase of economic transformation. As Minister Edun spearheads these initiatives, the country moves closer to a future defined by financial resilience, inclusive growth, and sustainable prosperity.