BY COBHAM NSA – Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the Federal Government’s economic reforms are gaining momentum with positive progress being recorded in key sectors.
This is as he also canvassed a more equitable global financial system that provides affordable, long-term financing, restructure debt, and increase governance representation for developing countries.
The Minister stated this at the Intergovernmental Group of Twenty-Four (G24) news conference, held on the sidelines of the International Monetary Fund / World Bank Spring Meetings in Washington, D.C., on Tuesday.
Edun, who spoke in his capacity as Chairman of the G24, outlined urgent priorities for developing economies contending with geopolitical strains, energy market disruptions, tightening financial conditions, and inflationary pressures that continue to test reform impetus.
According to the Minister, the scale of global support must be commensurate with the depth of current crises, even as he called for expanded access to affordable financing, enhanced liquidity buffers, and far-reaching reforms of the international financial system to better reflect the realities of developing economies.
He exuded confidence that the government’s reform agenda is already firming up macro-economic foundations, sharpening policy credibility, and strengthening Nigeria’s shock-absorption capacity, even as global uncertainties persist.
While also stressing that macroeconomic stability remains a decisive factor in attracting investment, Mr Edun said tighter coordination across fiscal, monetary, and trade policy levers are already yielding more durable economic outcomes and setting the stage for sustained resilience.
He said beyond stabilisation, there is a deliberate pivot towards broad-based, job-creating growth, stressing that the country is prioritising private sector-led expansion, infrastructure rollout, energy sector investment, deepened financial inclusion, and human capital development as anchors of long-term transformation.
In pushing global case for fairer finance structure, the Finance Minister highlighted Nigeria’s use of its leadership position within the G24 to shape global economic discourse, press for equitable outcomes, and reinforce domestic reform efforts through strategic international engagement.
A statement signed by Efe Ovuakporie, Head Information and Public Relations Unit of the Ministry, quoted Mr Edun as saying that the policy direction of the current administration focuses on commitment to maintaining stability, strengthening resilience against external shocks, and advancing investment-driven growth capable of generating employment.
He also stated that the persistent global headwinds notwithstanding, the government is accelerating reform implementation to deliver tangible economic gains and improved livelihoods for Nigerians
