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The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has indicated that Nigeria's enhanced domestic refining capabilities, a stable exchange rate, and improved fiscal transparency are establishing a foundation for sustainable growth and enhancing the country's image as an appealing investment hub.
His comments were made in anticipation of the 2025 World Economic Forum (WEF) in Davos, Switzerland, where he will accompany Vice President Kashim Shettima in leading Nigeria's delegation, as shared on the official social media account of the Federal Ministry of Finance on Tuesday.
The minister underscored that policies aimed at boosting domestic refining capacity, maintaining a stable exchange rate, and increasing fiscal transparency are producing concrete outcomes.
According to him, these reforms are setting the stage for sustainable economic development while boosting investor confidence in Nigeria.
Edun pointed out the administration's achievements in enhancing foreign reserves and raising government revenue through strategic financial measures.
“Our economic policies are producing tangible results,” he remarked. “The increase in domestic refining capacity, a stable exchange rate, and improved fiscal transparency are creating a solid foundation for sustainable growth and enhancing Nigeria's status as an attractive investment destination.”
The Minister highlighted transformative infrastructure initiatives, especially in energy and transportation, as significant indicators of President Bola Tinubu's administration's dedication to economic revitalization.
These initiatives aim to eliminate bottlenecks, promote industrial growth, and enhance Nigeria's competitiveness in the global market.
The delegation's activities at the forum will showcase Nigeria's vision for economic resilience, technological progress, and inclusive growth.
Vice President Kashim Shettima will co-chair a forum titled “Turning Digital Trade into a Catalyst for Growth in Africa,” scheduled to take place at the Pischa Congress Centre. This forum will concentrate on the potential of digital trade to spur economic growth and the private sector's role in executing the AfCFTA Digital Trade Protocol, which was endorsed by African Union heads of state in January 2024.
Additionally, VP Shettima will serve as a panellist in a Stakeholder Dialogue named “Global Risks 2025.” This dialogue, set to occur at the Aspen 2 Congress Centre, will delve into the findings of the Global Risks Report, which highlights an increasingly unstable global environment influenced by geopolitical, technological, and environmental challenges. The session will offer a platform for leaders to discuss strategies for mitigating these risks.
