Edun Advocates Stronger Fiscal Cooperation to Drive Nigeria’s Economic Growth
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has called for stronger collaboration among stakeholders to ensure effective fiscal management and sustainable national development.
Speaking virtually at a High-Level Retreat on Strengthening Collaboration for Sustainable Financial Management and National Development, Edun reaffirmed the government’s commitment to fiscal reforms, asset optimization, and private-sector investment.
The two-day retreat, held at the Congress Hall, Transcorp Hilton, Abuja, was organized by the Federal Ministry of Finance and brought together key stakeholders, including members of the National Assembly, heads of government agencies, and senior finance ministry officials.
In his address, Edun emphasized the need for a unified approach in financial governance to drive economic stability. “This event demonstrates our commitment to strengthening cooperation in financial governance. Through closer collaboration, we are refining budgetary processes, increasing transparency, and ensuring better resource allocation,” he said.
The Minister highlighted notable economic achievements, citing a 3.40% GDP growth in 2024, increased oil production, and improved revenue collection. He attributed these gains to critical fiscal reforms, including the removal of petrol subsidies, tax policy enhancements, and the automation of revenue collection systems.
A major theme of the retreat was the role of the private sector in economic sustainability. Edun stressed that fostering a robust private sector would generate more tax revenue, reduce government borrowing, and ensure long-term financial stability.
The event also featured a technical discussion on post-reform economic growth, during which Edun presented Nigeria’s Renewed Hope economic agenda. He outlined plans to enhance public financial management, prioritize capital expenditure, and implement regulatory reforms to attract local and foreign investments.
Dignitaries at the retreat included Minister of Budget and Economic Planning, Senator Abubakar Bagudu; Minister of State for Finance, Dr. Doris Uzoka-Anite; Permanent Secretary of the Ministry of Finance, Mrs. Lydia Shehu Jafiya; Deputy Governor of the Central Bank, Mohammed Abdullahi; and representatives from the Ministry of Information, the Federal Inland Revenue Service (FIRS), and the Debt Management Office (DMO).
As Nigeria navigates economic challenges, the retreat underscored the importance of collaboration in driving fiscal reforms and ensuring sustainable growth. Edun’s vision and leadership continue to shape the nation’s financial trajectory, setting the stage for a more prosperous future.
