Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has assured global investors that the country offers a secure and promising environment for investment.
Speaking at the Nigeria Investment Forum held during the World Bank and International Monetary Fund (IMF) Spring Meetings in Washington D.C. on Wednesday, Edun highlighted the government’s ongoing efforts to ensure economic stability and fiscal discipline.
“One of the key steps we’ve taken is appointing a new leadership at the Nigerian National Petroleum Company Limited (NNPCL),” Edun said.
“Their primary mandate is to boost oil production and reduce operational costs.”
He emphasized that President Bola Tinubu’s administration is committed to broadening the economic base through diversification, focusing on non-oil sectors to reduce dependency and ensure long-term sustainability.
“We’re working to stabilise the economy so the private sector can invest with confidence,” he noted.
“Optimising government assets is also a critical part of our strategy to bridge budget gaps.”
According to Edun, the government’s respect for contractual agreements remains firm, a move aimed at strengthening investor confidence.
He pointed out that foundational reforms implemented since Tinubu took office are beginning to yield tangible results, reflected in economic growth and improving indicators such as the trade balance, reduced budget deficits, and a more stable exchange rate.
“Our vision is to not only sustain the current recovery but to speed it up,” Edun stated.
“We’re aiming for a 7% annual growth rate, and the groundwork for that has already been laid.”
He added that targeted investment in key sectors, particularly agriculture, is a top priority.
“We’re not trying to bridge food gaps by importing more,” he explained.
“Our focus is on empowering local producers and improving productivity throughout the agricultural value chain.”
On infrastructure, Edun revealed that around 90,000 kilometres of fibre optic cable had been deployed to boost digital connectivity, supporting youth innovation and the technology sector.
In addition, 4,000 kilometres of roads have been slated for private sector investment, with the first 1,000 kilometres already approved for implementation.
Also speaking at the forum, Central Bank of Nigeria (CBN) Governor Yemi Cardoso said the bold reforms introduced by the federal government are beginning to deliver results, especially in stabilizing the macroeconomic environment.
“We’re starting to see the benefits of these difficult reforms,” Cardoso said.
“The macroeconomic framework is stabilising. Fitch Ratings recently upgraded Nigeria, and that’s a reflection of growing investor confidence.”
He acknowledged the challenging period Nigeria has faced over the last 18 months but reiterated the government’s determination to build a resilient economy.
“Our focus now is on restoring trust and optimism,” Cardoso added.
“If we stay the course, we’ll achieve the robust and inclusive growth we’re aiming for.”
