Nigeria: Unite in managing fiscal policies, Finance Minister urges stakeholders

Zawya

14-03-2025

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has called for unity in fiscal management to reshape Nigeria's economic future.
The Minister made this call at a High-Level Retreat on Strengthening Collaboration for Sustainable Financial Management and National Development.
The retreat was organised by the Federal Ministry of Finance, aimed at enhancing collaboration and cooperation between key stakeholders in the economic sector and fostering a cohesive approach to addressing the country's fiscal challenges.
The two-day event, held at the Congress Hall, Transcorp Hilton Abuja, brought together members of the National Assembly, Heads of Government Agencies, and senior officials from the Ministry of Finance to discuss strategies for enhancing fiscal governance and economic sustainability.
In his opening remarks, which he did virtually, Edun reaffirmed the Government's commitment towards asset optimisation and increased private-sector investment.
'This event demonstrates our commitment to strengthening cooperation in financial governance,' he stated.
The Minister added that through closer collaboration, 'we are refining budgetary processes, increasing transparency, and ensuring better resource allocation to drive long-term economic stability.'
Edun highlighted significant economic progress in recent months, citing a 3.40% GDP growth in 2024, improvements in oil production, and enhanced revenue collection.
He noted that these achievements were largely due to key fiscal reforms, including petrol subsidy removal, tax policy enhancements, and digital revenue automation.
A key theme of the discussion was the need to strengthen ties with the private sector, which the Minister described as crucial for ensuring financial sustainability. He stressed that a thriving private sector would generate increased tax revenues, reduce dependence on government borrowing, and create sustainable economic growth.
The session also featured a technical discussion on post-reform economic growth, during which Edun delivered a lead presentation on Nigeria's Renewed Hope economic agenda. His address outlined the government's plans to enhance public financial management, prioritise capital expenditure, and implement regulatory reforms to attract both domestic and foreign investment.
Among the key dignitaries in attendance who also delivered goodwill messages and remarks were Minister of Budget and Economic Planning, Senator Abubakar Bagudu, Minister of State for Finance, Dr Doris Uzoka-Anite, Permanent Secretary Federal Ministry of Finance Mrs Lydia Shehu Jafiya, Permanent Secretary Special Duties Mr Raymond Omenka Omachi,
Deputy Governor of the Central Bank, Mohammed Abdullahi, as well as representatives of the Honourable Minister of Information and National Orientation, Alhaji Mohammed Idris, the Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, the Federal Inland Revenue Service (FIRS) and the Debt Management Office (DMO).
With this call to action, Nigeria is poised to embark on a new era of economic growth and stability. As Edun's leadership and vision continue to guide the country's economic trajectory, Nigerians can look forward to a brighter future marked by prosperity, opportunity, and hope.
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