FG Unveils Bold Plan For Stability And Rapid Economic Growth

The Federal Government has outlined its strategy for achieving renewed stability and accelerated growth, focusing on private sector-led investment, job creation, and improved public services. Mohammed Manga, Director of Information and Public Relations, confirmed this in a statement on Thursday.

According to iReporter Online, while speaking at a media briefing in his Abuja office, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, shared the government’s vision for a more prosperous Nigeria.

He stated that the economic strategy is anchored on two key objectives: maintaining a stable macroeconomic environment to support private sector growth and strengthening government savings while investing in critical sectors such as education, health, and infrastructure.

This approach, he explained, is designed to drive growth, create jobs, and improve public services.

“Our task is to translate this into tangible improvements in the lives of Nigerians—principally more and better-paying jobs, alongside improved public services,” Edun said.

Despite global economic uncertainties, the Minister noted that Nigeria’s economy is diversifying, with growth led by trade, communications, and construction.

According to iReporter Online, GDP growth reached 3.13% in Q1 2025, up from 2.3% in Q1 2024, while inflation moderated to 22.22% as of June 2025. Foreign exchange reserves stood at approximately $39 billion in July 2025.

He further informed that the government has cleared outstanding capital budget obligations and is prioritizing spending on critical sectors.

The government is targeting 7% annual GDP growth, driven by private investment, infrastructure expansion, energy security, and food production. Key initiatives include policies to support private sector growth, investments in infrastructure, and agricultural development.

“Our fiscal discipline and structural reforms are designed to build investor confidence and position Nigeria for sustainable, inclusive growth,” Edun said.

“We are committed to a coordinated fiscal and monetary policy framework that can reduce inflation, lower business costs, and increase household purchasing power.”

According to iReporter Online, the Minister emphasized that Nigeria’s future growth depends on transparency, resilience, and effective use of public resources to ensure that spending works harder for the people and the economy.

With these reforms, the Federal Government expects the economy to continue growing and diversifying, improving the lives of Nigerians and positioning the country for a brighter future.

”IREPORTER REPORTS”