Standard Chartered Bank Applauds Nigeria’s Economic Reforms, Eyes Investment Prospects
A delegation from Standard Chartered Bank has praised Nigeria’s ongoing economic reforms, describing them as transformative and conducive to increased investment. The commendation came during a meeting with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in Abuja.
The delegation highlighted key reform measures such as the removal of fuel subsidies and market liberalization, noting that these steps have strengthened investor confidence. Discussions also focused on Nigeria’s debt market, with renewed interest in Eurobonds and local debt instruments.
Minister Edun underscored Nigeria’s improving fiscal position, citing a reduction in the budget deficit and efforts to stabilize inflation and lower interest rates. He noted that the economy is currently growing at 3.84%, with a target of 7% required to significantly reduce poverty and boost employment.
The delegation also commended President Bola Tinubu’s engagement with international financial institutions, emphasizing that Nigeria’s proactive approach to economic partnerships is fostering a more stable and investment-friendly environment.
With Standard Chartered Bank expressing optimism about Nigeria’s economic trajectory, the collaboration between the government and global financial players is expected to drive further innovation, investment, and long-term growth.
