Nigerian Government Reaffirms Commitment to Economic Stability

On Mar 12, 2025

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reaffirmed Government’s commitment to stabilizing the nation’s economy and enhancing the competitiveness of manufacturing exports on the global stage.

Speaking at the State House in Abuja on Tuesday, Edun highlighted the government’s economic priorities following a meeting with First Lady, Senator Oluremi Tinubu. The discussion focused on preparations for the Annual General Meeting (AGM) of Afreximbank, scheduled to take place from June 24 to June 27.

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The First Lady of The Federal Republic of Nigeria, Senator Oluremi Tinubu has commended the Minister of Finance and Coordinating Minister for the Economy and others saddled with the responsibility of managing the economic affairs of the country for the good works… pic.twitter.com/Prux1NHwRy

— Busola Kukoyi (@KukoyiBusola) March 11, 2025

He underscored Nigeria’s strong partnership with Afreximbank, emphasizing the country’s dedication to boosting trade and driving economic growth across Africa and beyond.

It would be recalled that the Nigerian Government and Afreximbank signed the Host Country Agreement for the 32nd Afreximbank Annual Meetings.

The AGM with the theme, ‘Building the Future on Decades of Resilience’ is scheduled to hold in Abuja in June.

The Afreximbank annual meetings are one of the most anticipated gatherings on the African continent, featuring high-level policy discussions, presentations, and side events on issues pertinent to the socio-economic development of Africa as well as business networking sessions that drive integration through trade and investments.

Edun said the aim of the meeting was to officially seek the support of Mrs Tinubu as Nigeria would be hosting dignitaries and spouses of the heads of states.

He said that the forthcoming Afreximbank meeting was expected to be the largest gathering of Africa in the Bank’s annual meetings history, bringing together thousands of delegates who were top policymakers.

This, according to him, includes 37 heads of state, former heads of states, bankers, government officials, captains of industry, decision-makers, academics, experts, and advisors from the African region.

The minister emphasised Nigeria’s strong partnership with Afreximbank and its commitment to fostering trade and economic growth for the country and the entire continent.

“What we refer to was the competitiveness of the Nigerian economy, bold and courageous under the leadership of President Bola Tinubu over the last 20 months, the Afreximbank has been reformed, it has been changed and it has been improved.

“We have a situation now where we have inflation stabilising, food prices crashing down, petroleum prices coming down, among other improvements in the economy.

“ There is focus on helping people with their cost of living, and those reductions in major prices that affect the land, particularly encouraging and heartwarming for Mr President.”

According to Edun, everything will be stabilised to the minimal level as time goes on with policies that will favour the indigenous manufacturers to be able to compete with others globally.

“The Nigeria-manufactured export will be more competitive in the pharmaceutical, health products, beauty products, textiles and agriculture, it makes them competitive to neighbours, especially West Africa and the whole of Africa.”

The first lady in her response commended the minister and his team for the good works they had been doing to ensure that the economy stabilised.

“This is one of the ways that God has just been blessing us in this administration with the quality of the people that are running the affairs of the country.

“Therefore, I thank the minister for approaching us for the forthcoming AGM meeting of the Afrimex bank, meamwhile, ours is very easy being the wife of Mr President, I am supposed to be the Chief Hostess and to ensure that we take care of things.”