Nigeria Targets 7% Economic Growth, Job Creation amid Global Uncertainty- Edun

Nigeria Targets 7% Economic Growth, Job Creation amid Global Uncertainty- Edun

JOEL OLADELE, Abuja

Nigeria’s economic outlook is strengthening, with the Federal Government targeting 7% economic growth and large-scale job creation, the Minister of Finance and Coordinating Minister of the Economy,Wale Edun has announced.

Speaking at the conclusion of the 2025 IMF and World Bank Spring Meetings in Washington, D.C., Edun highlighted that, despite a challenging global environment marked by high debt, rising interest rates, and geopolitical tensions, Nigeria remains firmly on the path of reform, stability, and growth.

“We are focused on creating sustainable jobs for young Nigerians, supported by investment in critical infrastructure such as digital connectivity, access to data, and fibre optic networks.

“By crowding in the private sector and driving domestic revenue mobilisation, we are stabilising the economy and creating an environment where businesses can thrive,” Edun Stated.

The Minister reaffirmed that the government’s economic strategy, anchored by President Bola Ahmed Tinubu’s administration, is delivering results, with international partners acknowledging Nigeria’s policy direction.

“At both the IMF and the World Bank, Nigeria’s reform programme — spanning fiscal, monetary, and structural policies — has been recognised as being on the right track. Despite global uncertainty, Nigeria is poised for resilient, inclusive growth,” the Minister added.

He also emphasised the government’s pragmatic approach to fiscal planning:
“A budget is a statement of intent; it must be continually recalibrated to reflect on-ground realities and available resources.”

The Central Bank Governor, Olayemi Cardoso, echoed these sentiments, noting the CBN’s firm commitment to reducing inflation sustainably:
“Inflation remains the most disruptive force against the economic welfare of Nigerians. Our focus is to bring it down to single digits over the medium term,” Cardoso said.

Highlighting growing investor confidence, Cardoso referenced Nigeria’s recent high-level investment forum at the Nasdaq Market Site in New York, showcasing the country’s reform momentum and rising interest from global investors and the diaspora.

Nigeria’s delegation to the Spring Meetings was led by Wale Edun and included: Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), Muhammad Sani Abdullahi, Deputy Governor, CBN Economic Policy Directorate, Senator Mohammed Sani Musa, Chairman, Senate Committee on Finance, Saidu Musa Abdullahi, Deputy Chairman, House Committee on Finance, Lydia Shehu Jafiya, Permanent Secretary, Federal Ministry of Finance, Mr. Faruk Yusuf Yabo, Permanent Secretary, Federal Ministry of Communications, Innovation and Digital Economy, Patience Oniha, Director General, Debt Management Office (DMO), Sayande Okoli, Special Adviser to the President on Finance and Economy,
as well as other senior government officials.