Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has declared that Nigeria is “open and ready for business,” highlighting a $4 billion trade surplus in Q1 2025, a 9.8% increase in exports, foreign reserves of $39 billion as of July, and a more stable exchange rate.
Edun said fiscal discipline has been restored by halting excessive Ways and Means borrowing, reducing the debt-to-GDP ratio from 52.1% to 38.8%, and clearing over ₦2 trillion in outstanding capital obligations from 2024.
He noted that state governments’ combined fiscal surplus rose from ₦2.8 trillion in 2023 to ₦7.1 trillion, driven by subsidy removal savings and higher Federation Account allocations.
According to him, reforms are underway to merge more than 50 overlapping taxes into a single transparent framework from January 2026, and to roll out a technology-driven revenue optimisation platform to plug leakages and improve financial intelligence.
The minister reiterated the government’s goal of achieving 7% annual GDP growth by investing in agriculture, health, education, manufacturing, technology, and infrastructure, supported by public-private partnerships.
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