Nigeria Eyes Ambitious 7% GDP Growth Amid Global Uncertainty

He made this known when he announced that Nigeria’s economic outlook is strengthening, after the 2025 International Monetary Fund (IMF) and World Bank Spring Meetings in Washington, D.C., USA.

Recall that the IMF downgraded Nigeria’s economic growth forecast to 3.0 per cent this year, citing global constraints following a trade war instigated by the US administration of President Donald Trump.

Mr Edun highlighted that, despite the challenging global environment marked by high debt, rising interest rates, and geopolitical tensions, Nigeria remains firmly on the path of reform, stability, and growth.

“We are focused on creating sustainable jobs for young Nigerians, supported by investment in critical infrastructure such as digital connectivity, access to data, and fibre optic networks. By crowding in the private sector and driving domestic revenue mobilisation, we are stabilising the economy and creating an environment where businesses can thrive,” Mr Edun stated.

The Minister reaffirmed that the government’s economic strategy, anchored by President Bola Ahmed Tinubu’s administration, is delivering results, with international partners acknowledging Nigeria’s policy direction.

At both the IMF and the World Bank, Nigeria’s reform programme, spanning fiscal, monetary, and structural policies, has been recognised as being on the right track, he said, adding that despite global uncertainty, Nigeria is poised for resilient, inclusive growth.

He also emphasised the government’s pragmatic approach to fiscal planning, “A budget is a statement of intent; it must be continually recalibrated to reflect on-ground realities and available resources.”

On his part, the Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, echoed these sentiments, noting the CBN’s firm commitment to reducing inflation sustainably.

“Inflation remains the most disruptive force against the economic welfare of Nigerians. Our focus is to bring it down to single digits over the medium term,” Mr Cardoso said.

Highlighting growing investor confidence, Cardoso referenced Nigeria’s recent high-level investment forum at the Nasdaq Market Site in New York, showcasing the country’s reform momentum and rising interest from global investors and the diaspora.

Mr Edun and Mr Cardoso had led the Nigeria delegation to the Spring Meetings. Others include Mr Muhammad Sani Abdullahi, Deputy Governor, CBN Economic Policy Directorate; Mr Mohammed Sani Musa, Chairman, Senate Committee on Finance; Mr Saidu Musa Abdullahi, Deputy Chairman, House Committee on Finance; Mrs Lydia Shehu Jafiya, Permanent Secretary, Federal Ministry of Finance; Mr Faruk Yusuf Yabo, Permanent Secretary, Federal Ministry of Communications, Innovation and Digital Economy; Ms Patience Oniha, Director General, Debt Management Office (DMO); Mrs Sayande Okoli, Special Adviser to the President on Finance and Economy, as well as other senior government officials.