The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has stated that Nigeria’s economic reforms are showing progress, with inflation down from its peak, a reduced budget deficit, and lower debt servicing costs.

Addressing reporters at the end of the IMF/World Bank Annual Meetings in Washington DC, US, Edun explained that while Nigeria still faces elevated inflation, low growth, and high debt levels, the government is actively tackling these challenges through decisive measures.

Our Correspondent Raliat Adenekan reports that the finance minister also underscored the government’s commitment to supporting the poorest and most vulnerable, ensuring that financial aid is delivered transparently and digitally.

He also discussed the anticipated benefits of reforms such as market pricing for foreign exchange and petroleum products, including locally produced petrol.

On agriculture, Edun expressed optimism for the upcoming harvest season and a productive dry-season planting for crops like wheat and rice, underlining the role of local food production in stabilizing the economy.