Nigerian Economy Sees Progressive Growth, Minister Says
Nigerian Economy Sees Progressive Growth, Minister Says
Nigerians now spend half their income on basics, down from nearly 90% previously, signaling better living standards and productivity improvement, Wale Edun, Minister of Finance and Coordinating Minister of the Economy, noted at an economic briefing.
In addition to the enhanced confidence in the financial sector due to removing the country from the grey list of FATF, the minister highlighted:
the country's GDP growth by 4.23% in Q2 2025, the highest quarterly growth in a decade (outside the post-COVID period);
the 7% growth of 13 sectors, an increase from 9 sectors last quarter, which demonstrates widespread economic strength;
the trade surplus, which rose to N7.4 trillion ($5.16 billion), indicating stronger external financial stability;
“The task ahead is immense, but we are resolved to move forward with unity and purpose, guided by renewed hope, agenda to build a prosperous, inclusive, and resilient Nigeria,” President Tinubu emphasized after the briefing.
Edun added that despite difficulties, the current reforms aim to:
🟠develop a competitive economy;
🟠reduce poverty for millions of citizens;
🟠foster employment.
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