The Federal Government has reiterated its determination to foster a private-sector-driven economy while reducing reliance on external borrowing. This position was reaffirmed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a strategic meeting with World Bank Executive Director, Zainab Shamsuna Ahmed, in Abuja on Monday.
Edun emphasized the government’s commitment to creating an environment conducive to sustainable investments, highlighting key reforms aimed at revitalizing the nation’s economy. He praised the World Bank for its role in supporting Nigeria’s economic growth and reaffirmed Nigeria’s dedication to the Mission 300 initiative — a project designed to provide electricity to 300 million Africans.
Ahmed, a former Minister of Finance in Nigeria, commended the current administration for its macroeconomic reforms, noting their impact on fiscal stability and investor confidence. She revealed that the World Bank’s recent financial restructuring had expanded its lending capacity by $150 billion over the next decade.
Edun concluded by underscoring President Bola Tinubu’s commitment to economic reforms that prioritize domestic growth, attract investments, and minimize dependency on international loans.
