FG rolls out plans for sustainable economic development

…over $40bn foreign reserves signals confidence in financial management – Edun

By Tunde Opalana

The Federal Government has unveiled a comprehensive economic plans that will ensure sustainable development. This include fiscal priorities and economic direction for the coming year.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun disclosed government’s plan at the 2025 KPMG Arise TV Budget News Day in Lagos.

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 said that government was commitment to fiscal discipline, revenue mobilisation, and an improved investment climate.

He highlighted a projected GDP growth of 4.6% for 2025, with a long-term ambition of 7% annually, a crucial target for poverty reduction and sustainable development.

According to the minister, macroeconomic stability remains a top priority, with exchange rate stability, trade surplus, and increased oil production positioning Nigeria as a stronger global player.

He added that foreign reserves have exceeded $40 billion, signalling confidence in economic policies and financial management.

A key theme of Edun’s address was the role of the private sector in driving economic expansion. He highlighted public-private partnerships (PPPs) as a critical tool to close Nigeria’s $100 billion annual infrastructure investment gap. Landmark projects such as the Benin-Asaba Highway and Lagos-Abeokuta Road are set to be developed under PPP frameworks, reducing travel time and boosting productivity.

In the oil and gas sector, Edun emphasized the importance of domestic refining, with the Dangote Refinery now leading local crude petroleum processing.

This shift, he said, will significantly reduce reliance on imports, strengthen energy security, and enhance economic resilience.

Edun also addressed fiscal policy reforms, 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 building on strategic reforms, Nigeria was poised to unlock new opportunities for prosperity, accelerate national development, and secure a brighter future for generations to come.