Edun confident of economic growth, reforms in 2025 budget defence

Abdullateef Fowewe

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has assured Nigerians that the nation’s economy is on a steady path to recovery and growth, driven by critical reforms and fiscal measures introduced by the administration of President Bola Ahmed Tinubu.

Edun, made this disclosure on Monday, in Abuja during the 2025 defence of N38 billion budget session before the Senate Committee on Finance.

The minister emphasised the key reforms, including foreign exchange liberalisation and petroleum deregulation, noting that the measures are driving fiscal stability and economic resilience.

According to a statement shared by the Ministry of Finance on Monday, despite short-term challenges, Edun underscored long-term benefits like job creation and poverty reduction.

The statement reads, “HM Edun highlighted the broad impact of reforms, including the liberalisation of the foreign exchange market, deregulation of petroleum pricing, and the expansion of domestic refining capacity. These measures are driving fiscal stability, reducing inefficiencies, and creating a more sustainable economic framework.

“The Honourable Minister acknowledged that while the reforms may bring short-term discomfort, their long-term benefits will include job creation, poverty reduction, and greater economic resilience. He also emphasised the government’s commitment to infrastructure development, particularly in digital networks and energy, to improve productivity and attract private sector investments.”

However, the Senate approved the budget, commending the government’s commitment to fiscal discipline and infrastructure development, which aims to enhance productivity and attract private investments.