Nigeria’s Economic Management Team (EMT) has mapped out a bold path for accelerated and inclusive growth, as Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun, declared that the country’s reform momentum is yielding concrete results.
At a high-level EMT strategy session in Abuja, Edun highlighted early signs of macroeconomic stability, including stronger fiscal revenues, a narrowing budget deficit, and the recent international credit rating upgrade — a move he described as “a vote of confidence in Nigeria’s economic reforms.”
“The data is encouraging. Our foreign reserves have risen to $23 billion, the exchange rate premium has dropped dramatically from 65% to just 1%, and the world is watching our progress with renewed optimism,” Edun said.
The Minister applauded the Central Bank of Nigeria (CBN) for restoring market confidence through a transparent exchange rate policy and tighter monetary discipline. He described the CBN’s efforts as “critical in stabilizing the external sector and anchoring investor trust.”
The EMT’s new strategy aims for 7% GDP growth in the medium term, driven by reforms that will unlock long-term capital through pension funds for infrastructure, boost oil production and reduce cost-per-barrel output, expand technology infrastructure to power digital and agricultural growth, enforce data-driven policymaking and disaggregated poverty targeting and improve Nigeria’s sovereign ratings to lower the cost of borrowing
Also discussed at the meeting were ongoing global uncertainties, volatile oil markets, and the need to pivot decisively toward private sector-led development.
Edun underscored the importance of making public spending more impactful, noting that all agencies must now align with a central, evidence-based roadmap focused on results.
“This administration’s goal is not just recovery — it’s transformation. Every naira must count. Every policy must deliver,” the Minister affirmed.
The EMT agreed that full legal backing and strategic communication will be vital to ensuring that the next phase of reforms drives job creation, attracts investment, and lifts millions of Nigerians out of poverty.
The outcomes of this strategy session will inform the next iteration of Nigeria’s national economic blueprint, to be presented to President Bola Ahmed Tinubu.