The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has underscored the pivotal role of the private sector in Nigeria’s economic revival.
Mr Edun, who stated this recently, at the ICAN Conference in Abuja, according a statement made available by the Director, Information and Public Relations, Ministry of Finance, Mohammed Manga, also underscored the decisive reforms that reshapes the nation’s economic landscape.
He noted that under President Bola Ahmed Tinubu’s leadership, bold reforms are restoring credibility and driving productivity across key sectors.
“These reforms are ushering in a new era that rewards innovation and enterprise over rent-seeking,” he said.
According to him, the results are becoming evident: GDP grew by more than 4% in Q2 2025, industrial output rose 7.45%, inflation eased to 20.1% in August, and a record ₦7.4 trillion trade surplus reflects renewed competitiveness. Foreign reserves have also strengthened to $42 billion, while the naira has gained stability, narrowing the gap between official and parallel markets.
For the business community, the Minister emphasised that government reforms are laying a foundation of transparency, predictability, and accountability.
“The private sector accounts for 90% of GDP and remains the engine of growth. Government’s role is to enable, not crowd out, enterprise,” Edun stated.
Looking ahead, HM Edun reaffirmed government’s ambition to achieve 7% GDP growth through investment in infrastructure, export expansion, fiscal discipline, and digital public financial management.
