At the Nigeria Investment Forum during the World Bank/IMF meetings in Washington D.C., Finance Minister and Coordinating Minister of the Economy, Wale Edun, assured international investors that Nigeria is a secure and promising destination for investment. He explained that the government is actively focused on maintaining fiscal discipline and economic stability, pointing to recent leadership changes at the Nigerian National Petroleum Company Limited (NNPCL). The company’s new team has been tasked with boosting oil production and cutting operating costs to improve efficiency.
Edun emphasized that diversifying the economy and optimizing national assets remain key priorities. These efforts aim to close budget gaps and support sustainable growth. He reaffirmed the government’s commitment to contract integrity and fiscal alignment, reinforcing Nigeria’s credibility in the eyes of investors.
Highlighting recent policy actions, Edun said the administration has already begun seeing positive economic results. Nigeria’s economy is now expanding, and the government is setting a growth target of 7% annually. He credited recent reforms with laying the groundwork for this goal, noting improvements in macroeconomic indicators such as the trade balance, exchange rate, and budget deficit.
With a shift toward sector-specific strategies, agriculture stands out as a top focus. The government plans to support local food production and innovation across the agricultural value chain to boost food security and reduce dependence on imports. In the digital and infrastructure sectors, Nigeria has laid down 90,000 km of fibre optic cables to enhance connectivity, particularly for the country’s tech-savvy youth and startup community. Meanwhile, 4,000 km of roads have been offered for private investment, and 1,000 km have already been approved for construction.
Central Bank of Nigeria Governor, Yemi Cardoso, added that tough reforms implemented over the past 18 months are beginning to pay off. The economy is becoming more stable, with recent ratings upgrades serving as early signs of recovery. Cardoso explained that the focus now is on strengthening institutions and public confidence to build a more resilient economy. He stressed that the country is moving in the right direction and remains determined to stay the course.
