The Nigerian Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, expressed confidence that the country’s economy is entering a new phase that will attract more investments. During a welcome ceremony for Dr. Doris Uzoka-Anite, the newly appointed Minister of State for Finance, Edun highlighted two key reforms removing the fuel subsidy and introducing a market-determined foreign exchange rate. According to Edun, these reforms have opened up Nigeria’s economy to global investment, positioning the country for greater economic growth, job creation, and poverty reduction.
Edun emphasized that these long-overdue changes, including the market-based foreign exchange rate and the market-driven pricing of petroleum products, were critical steps in improving Nigeria’s economic fundamentals. He commended President Bola Tinubu for his boldness and determination in implementing these reforms, which he believes will lead to increased productivity and GDP growth. He expressed optimism that the reforms will sustain economic growth, contributing to Nigeria’s future prosperity.
Dr. Uzoka-Anite, formerly Nigeria’s Minister of Industry, Trade, and Investment, expressed her commitment to supporting Edun’s efforts and contributing to the success of Nigeria’s finance sector. She acknowledged the challenges faced by the government, particularly since the new administration took office in May 2023, and pledged to complement Edun’s work in guiding the country toward economic stability and fulfilling the President’s vision for economic development. Both leaders expressed mutual support and confidence in their ability to work together to advance Nigeria’s economic agenda.
