The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the federal government has unveiled a comprehensive economic plan for sustainable development.
Mr Edun disclosed this in a statement issued by the ministry’s director of information and public relations, Mohammed Manga, on Tuesday in Abuja.
The minister, who unveiled the plan at the 2025 KPMG ARISE TV Budget News Day, also outlined Nigeria’s fiscal priorities and economic direction for the coming year.
Mr Edun said the government was committed to fiscal discipline, revenue mobilisation, and an improved investment climate.
According to him, the government has projected GDP growth of 4.6 per cent for 2025, with a long-term ambition of seven per cent annually, a crucial target for poverty reduction and sustainable development.
The minister said that macroeconomic stability remained a priority, with exchange rate stability, trade surplus, and increased oil production positioning the country as a stronger global player.
Mr Edun said the foreign reserves had exceeded $40 billion, signalling confidence in economic policies and financial management.
He noted the crucial role of the private sector in driving economic growth, highlighting public-private partnerships as a key mechanism to bridge Nigeria’s $100 billion annual infrastructure investment gap.
According to him, landmark projects, including the Benin-Asaba Highway and the Lagos-Abeokuta Road, are to be developed under PPP frameworks to reduce travel time and enhance productivity.
The minister said domestic refining was important in the oil and gas sector, with the Dangote Refinery now leading local crude petroleum processing.
He said the shift would significantly reduce reliance on imports, strengthen energy security, and enhance economic resilience.
Mr Edun also addressed fiscal policy reforms and the government’s drive to expand the tax base, streamline revenue collection, and create a business-friendly tax system.
He said that a balanced approach to taxation would encourage investment while ensuring adequate funding for national priorities.
The minister said that as the country moved forward, the government was dedicated to economic transformation, driven by policies that fostered growth, stability, and private sector participation.
Mr Edun said that by building on strategic reforms, Nigeria was poised to unlock new opportunities for prosperity, accelerate national development, and secure a brighter future for future generations.
(NAN)
