By Jemimah Wellington, JKNewsMedia Reporter
NIGERIA IS aiming for a bold 7% annual economic growth rate, with plans to leverage agricultural productivity, digital infrastructure, and oil production as the primary engines of expansion.
Minister of Finance and Coordinating Minister for the Economy, Wale Edun, revealed the new target while addressing investors on the sidelines of the IMF/World Bank Spring Meetings in Washington DC.
The projection marks a major shift from the 3.8% growth recorded in 2024.
Edun emphasised that the Tinubu administration’s economic reforms are designed to build a resilient and investment-friendly economy. Speaking to an audience of global investors, he urged them to view Nigeria as their next preferred destination, highlighting the country’s strong growth trajectory and substantial opportunities for private sector engagement.
“We believe we have started to lay the foundations for a strong, economically strong Nigeria that can attract private sector investment,” Edun said, pointing to key policy changes already underway.
Among the reforms championed by the government are the removal of fuel subsidies and the adoption of market-based pricing for petroleum products—measures Edun said were essential to stabilising the economy and improving investor confidence.
He outlined areas ripe for investment, particularly infrastructure, agriculture, and digitalisation, signalling a clear invitation for private capital to drive Nigeria’s next phase of development.
“We have huge opportunities to crowd in the private sector, particularly in infrastructure development, agriculture, and digitalisation,” he added.
Edun’s remarks reflect the federal government’s broader vision to reposition Nigeria’s economy as a magnet for private investment while deepening the nation’s economic foundations through structural reforms.
