Nigeria’s economy is entering a phase of “renewed stability and accelerating momentum,” Finance Minister and Coordinating Minister of the Economy Wale Edun declared at today’s media briefing in Abuja.
GDP grew 3.13% year-on-year in Q1 2025—up from 2.49% a year earlier—driven by trade, telecoms, and construction. Inflation has eased for three consecutive months, the naira has remained stable for over a year, and the country posted a $4.16 billion trade surplus in Q1. External reserves stand at $39 billion, covering 13 months of imports.
Reforms are reshaping Nigeria’s investment climate. Federation revenues rose 37.4% in H1 2025, while debt-to-GDP fell to 38.8% after rebasing. A landmark Tax Act, effective 2026, will consolidate more than 50 levies into a single framework—cutting compliance costs and making Nigeria’s tax regime simpler and more predictable. The new Revenue Optimisation and Assurance Platform will digitise collections, close leakages, and strengthen transparency.
The Honourable Minister reaffirmed the President Bola Tinubu-led administration’s medium-term target of 7% annual growth, anchored on private investment, infrastructure expansion, energy security, and food production. “Our fiscal discipline and structural reforms are designed to build investor confidence and position Nigeria for sustainable, inclusive growth,” he said.
