Key reforms in foreign exchange market, others have stabilised Nigeria’s economy, says Wale Edun

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, on Thursday cited that key reforms such as market-driven pricing for foreign exchange and petroleum, among others have stabilised the Nigeria’s economy, improved Gross Domestic Product (GDP) growth, and strengthened the trade balance.

Director, Information and Public Relations, Federal Ministry of Finance, Mr. Mohammed Manga quoted the Minister as listing increased trade through African Continental Free Trade Area (AfCFTA), and stronger revenue from both oil and non-oil sectors as key reforms that have impacted positively on Nigeria’s economy. 

The Minister disclosed this in his office in Abuja when he met with a high-level delegation from First Abu Dhabi Bank, led by the Group Head of Investment Banking, Martin Tricaud, to discuss investment opportunities and strategic partnerships

Edun stated that the progress in the last 18 months made in stabilising the economy and driving growth is a testament to the current administration’s commitment to economic reform,  stressing that, *we are eager to showcase these opportunities to investors and partners, like First Abu Dhabi Bank” 

The Minister also emphasised efforts to boost food production and affordability, ensuring long-term economic resilience. 

The meeting marks a significant step in Nigeria’s efforts to attract foreign investment and strengthen economic ties with key partners.

With Nigeria’s economy poised for continued growth, this partnership with First Abu Dhabi Bank is expected to unlock new opportunities for investment, job creation, and economic development.