Edun: FG aims to reduce inflation, create more Jobs
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced the Federal Government’s plans to lower the inflation rate to single digits while creating more job opportunities for Nigerians.
This declaration was made during a press conference held by the Nigerian economic team, coinciding with the conclusion of the 2025 International Monetary Fund (IMF) and World Bank Spring Meetings in Washington D.C.
Edun remarked on the government’s collaboration with development partners, including the World Bank, to generate jobs and foster sustainable employment in the fight against poverty. He emphasized the importance of empowering youth through essential infrastructure, which includes enhancing digital access to facilitate remote work.
In highlighting the positive developments in the nation’s economy, Edun noted that the unemployment rate had decreased to 4.3% in the second quarter of 2024, down from 5.3% in the first quarter. He expressed confidence that Nigeria is well prepared to navigate current global uncertainties, including inflation and declining growth.
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso acknowledged the adverse effects of inflation on economic welfare and committed to a focused policy approach to sustainably reduce inflation. He shared that recent painful reforms are starting to yield positive outcomes, restoring investor confidence and positioning Nigeria as a reference point for effective reform.
The nation recorded a balance of payments surplus of $6.83 billion in 2024, driven by rising exports and capital inflows, contributing to the stability of the domestic currency. The government is on an ambitious path towards becoming a $1 trillion economy by 2030, with ongoing banking sector recapitalization efforts supported by stakeholders.
Senator Sani Musa, Chairman of the Senate Committee on Finance, praised the economic team’s measures to restore confidence in the financial system and improve the fiscal landscape to reduce poverty.
The delegation, led by Edun, included significant government figures and engaged in discussions with fund managers and global financial leaders to strengthen partnerships and highlight the benefits of Nigeria’s economic reforms.### Nigeria Aims to Reduce Inflation and Create Jobs, Says Finance Minister
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced the Federal Government’s plans to lower the inflation rate to single digits while creating more job opportunities for Nigerians. This declaration was made during a press conference held by the Nigerian economic team, coinciding with the conclusion of the 2025 International Monetary Fund (IMF) and World Bank Spring Meetings in Washington D.C.
Edun remarked on the government’s collaboration with development partners, including the World Bank, to generate jobs and foster sustainable employment in the fight against poverty. He emphasized the importance of empowering youth through essential infrastructure, which includes enhancing digital access to facilitate remote work.
In highlighting the positive developments in the nation’s economy, Edun noted that the unemployment rate had decreased to 4.3% in the second quarter of 2024, down from 5.3% in the first quarter. He expressed confidence that Nigeria is well prepared to navigate current global uncertainties, including inflation and declining growth.
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso acknowledged the adverse effects of inflation on economic welfare and committed to a focused policy approach to sustainably reduce inflation. He shared that recent painful reforms are starting to yield positive outcomes, restoring investor confidence and positioning Nigeria as a reference point for effective reform.
The nation recorded a balance of payments surplus of $6.83 billion in 2024, driven by rising exports and capital inflows, contributing to the stability of the domestic currency. The government is on an ambitious path towards becoming a $1 trillion economy by 2030, with ongoing banking sector recapitalization efforts supported by stakeholders.
Senator Sani Musa, Chairman of the Senate Committee on Finance, praised the economic team’s measures to restore confidence in the financial system and improve the fiscal landscape to reduce poverty.
The delegation, led by Edun, included significant government figures and engaged in discussions with fund managers and global financial leaders to strengthen partnerships and highlight the benefits of Nigeria’s economic reforms.
NAN
