Nigeria’s Federal Government has reaffirmed its commitment to far-reaching economic reforms aimed at stabilising the economy, attracting investment, and improving the welfare of citizens, according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
Speaking during an interview with Bloomberg Television’s Leaders programme, anchored by Francine
Lacqua, on the sidelines of the World Economic Forum (WEF) 2026, Edun said Nigeria is moving from
emergency economic stabilisation to a phase focused on long-term consolidation and policy credibility.
The minister explained that since May 2023, the government has implemented difficult but necessary
structural reforms designed to correct long-standing economic distortions. He noted that authorities are
now prioritising durability and predictability to ensure the reforms deliver sustainable results.
Renewed Investor Interest
Despite tight global financial conditions, Edun disclosed that Nigeria is witnessing renewed interest
from investors across Europe, the United Kingdom and the Gulf region. He attributed this development
to improvements in fiscal transparency, foreign exchange market reforms, and Nigeria’s removal from
the Financial Action Task Force (FATF) and European Union grey lists.
According to him, these changes are helping to improve global perception of Nigeria’s investment
climate and encouraging increased capital inflows.
Tax Reforms and Revenue Growth
A major focus of the reform agenda is tax restructuring. Edun said the government is targeting an
increase in Nigeria’s tax-to-GDP ratio to about 18 percent in the short term. He stressed that the
reforms are designed to be pro-poor, pro-growth and pro-jobs.
The tax overhaul aims to broaden the tax base, simplify compliance, protect small businesses and
reduce pressure on essential goods and services. Digital revenue systems are also being deployed to
improve transparency and reduce excessive government borrowing.
What Citizens Stand to Gain
For Nigerians, the reforms are expected to translate into better funding for social services such as
healthcare, education and transportation infrastructure. Improved fiscal discipline could also help
stabilise inflation over time, strengthen the naira, and create a more predictable environment for job
creation.
Experts note that while the reforms may involve short-term adjustments, their long-term success
depends on sustained implementation and public trust.
Looking Ahead
Edun emphasised that Nigeria remains focused on reform credibility, fiscal discipline and ongoing
engagement with both local and international stakeholders, even amid global economic fragmentation.
The interview was shared by the Federal Ministry of Finance via its official social media platforms.
Source: Federal Ministry of Finance (via X) | Bloomberg Television interview at World Economic Forum 2026.
.jpeg)
0 Comments