The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has outlined the Federal Government’s plans to reduce inflation to single digits and create more jobs for Nigerians.....KINDLY READ THE FULL STORY HERE▶

Speaking at a press conference during the conclusion of the 2025 International Monetary Fund (IMF) and World Bank Spring Meetings in Washington D.C., Edun emphasized the government’s commitment to tackling inflation and enhancing employment opportunities.

“We are collaborating with global partners like the World Bank to focus on sustainable employment, especially through digital infrastructure, which will empower the youth with tools like data access, the internet, and fibre optic networks for remote work opportunities,” Edun stated.

He added that Nigeria’s unemployment rate had already decreased from 5.3 percent in Q1 2024 to 4.3 percent in Q2 2024.

Despite global uncertainties, Edun expressed confidence that Nigeria was positioned to withstand the challenges posed by inflation and declining global growth.

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, also addressed inflation concerns, acknowledging the disruptive impact on Nigeria’s economy but reaffirming the commitment to bringing inflation down sustainably.

Cardoso highlighted that the reforms implemented by the government, while challenging, are beginning to show positive results, with Nigeria’s investment climate improving significantly. He pointed to the successful investment forum at the Nasdaq Market Site in New York, which reinforced investor confidence in Nigeria’s economic reforms.

“The country’s balance of payments surplus of $6.83 billion in 2024, driven by rising exports and capital inflows, has been crucial in supporting the stability of the naira and reducing the gap between official and parallel market exchange rates,” Cardoso said.

He also reiterated the government’s ambition to build a trillion-dollar economy by 2030, with ongoing efforts to recapitalize the banking sector, ensuring financial institutions are better equipped to support large-scale projects and stimulate economic activities.

Senator Sani Musa, Chairman of the Senate Committee on Finance, praised the administration’s progress in stabilizing the financial system and improving the fiscal landscape to combat poverty.

The Nigerian economic team, led by Edun, participated in various discussions with international financial leaders and development partners, working to strengthen existing partnerships and foster new ones to advance Nigeria’s economic reforms.