Nigeria’s economy is experiencing significant positive shifts, as highlighted by Finance Minister Wale Edun. In the first half of 2025, the nation’s revenue increased by 34.7% compared to the same period in 2024, signaling robust economic growth and improved fiscal health.
A key indicator of this progress is the reduction in the government’s debt service-to-revenue ratio, which decreased from 97% in 2023 to 68% in 2024. This reflects more efficient debt management and a lower fiscal burden of debt servicing.
Minister Edun attributes these advancements to the administration’s commitment to fiscal discipline, including exiting the Central Bank of Nigeria’s “ways and means” financing and implementing comprehensive tax reforms. These measures have enhanced revenue generation while reducing reliance on unsustainable borrowing practices.
Looking ahead, the government aims to maintain this positive trajectory by focusing on sustainable borrowing linked to developmental projects, ensuring that debt contributes to economic growth without compromising fiscal stability.