Nigeria Poised for Growth Despite Global Headwinds, Says Finance Minister
The Finance Minister and Coordinating Minister of the Economy says recent reforms have strengthened Nigeria’s ability to withstand external shocks and sustain growth. He highlighted steps such as removing fuel subsidies, liberalising the exchange rate, and launching the Naira-for-crude initiative. These measures have boosted oil output to 1.86 million barrels per day, supported domestic refining, and improved transparency. Higher crude prices above $110 per barrel offer extra revenue to bolster fiscal sustainability. The minister also noted efforts to manage fuel costs, ensure steady supply, and attract long-term investment amid tighter global capital flows. He added that Nigeria’s upgrade to Frontier Market status and recent tariff reforms are building investor confidence and industrial competitiveness. The government remains committed to translating reforms into job creation, poverty reduction, and inclusive prosperity.
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