Nigeria’s economic reforms durable, self-sustaining – Edun

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said on Saturday reforms initiated by the current administration are durable, self-sustaining, and aimed at transitioning Nigeria from economic survival to growth.

Edun stated this during a press briefing at the ongoing Spring Meetings of the World Bank and the International Monetary Fund (IMF) in Washington, DC.

He pointed out that the reforms—implemented since mid-2023—have stabilises the economy and positioned it to withstand external shocks. 

The minister noted that the meetings were held amid global export tensions, trade uncertainty, and tightening financial conditions affecting economies worldwide.

“Building prosperity through policy, reflects Nigeria’s commitment to credible and disciplined macroeconomic reforms,” Edun stated.

He said Nigeria had been better positioned to withstand external shocks due to ongoing reforms.

READ ALSO: Tinubu’s reforms driving economic growth, reducing poverty –Finance minister, Edun

He added that market-based foreign exchange and fuel pricing systems were also stabilising the economy.

The minister noted that while inflation remained a key risk, driven by energy, food, and logistics costs, the government was implementing targeted social protection and agricultural interventions.

Edun told the gathering that the government was also maintaining fiscal discipline, and ruling out inefficient subsidy regimes.

“The economic growth have exceeded four per cent, while reserves reached about 50 billion dollars. Inflation is gradually declining, while public debt remains within sustainable levels.

” Reforms are boosting domestic production and private sector confidence,” he said.

The minister listed investments such as Dangote Refinery as indicators of progress.

The post Nigeria’s economic reforms durable, self-sustaining – Edun appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.