Posts in category: CatchUp

The Federal Government has reaffirmed its commitment to deepening sustained economic reforms as the G20 Investment Dialogue concludes in Johannesburg, South Africa

Addressing global investors and South African business leaders, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, outlined how recent reforms are restoring macroeconomic stability and creating a more predictable environment for private capital.

He informed that GDP growth has strengthened to 4.23% in Q2 2025, inflation has begun to moderate, and external reserves now stand at $46.3 billion.

The Minister added that growth is increasingly broad-based, driven by telecommunications, trade, construction, rail, electricity and refining.

The message to investors is clear, Edun said. Nigeria is not only open for business; Nigeria is reforming to accelerate private-sector-led growth, he stated.

With a strengthened investment climate and a growing economy, Nigeria is poised for sustainable growth and development. The Federal Government invites investors to join the journey of growth and prosperity, leveraging the country’s vast potential and opportunities.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 24, 2025

www.finance.gov.ng

This week, Nigeria made history as the first African country to host both the Duke of Edinburgh’s International Award Forum and the International Gold Event together, welcoming His Royal Highness Prince Edward and delegates from more than 50 countries to Lagos and Abuja.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who also serves as Chair, Board of Trustees of The International Award for Young People Nigeria, participated throughout the week, engaging with global trustees, youth leaders, and Award participants. He reaffirmed the Federal Government’s commitment to empowering young Nigerians through economic reform, digital access, skills development, and non-formal learning.

At the closing dinner of the International Gold Event, the Honourable Minister congratulated delegates on their achievement and encouraged them to continue building confidence, collaboration, and leadership beyond the classroom. There is no limit to what you can achieve, he said. We are doing all we can to inspire and support you now, go out there, add value, and be world-ready, the Minister emphasized

This milestone event underscores Nigeria’s dedication to youth development and its growing influence on the global stage. By hosting such prestigious events, Nigeria continues to demonstrate its commitment to empowering the next generation of leaders.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 21, 2025

www.finance.gov.ng

The Federation Account Allocation Committee (FAAC), at its November 2025 meeting chaired by the Accountant General of the Federation, Shamsudeen B. Ogunjimi shared a total sum of N2.094 Trillion to the three tiers of government as Federation Allocation for the month of October 2025 from a gross total of N2.934 Trillion.

From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT) and Electronic Money Transfer Levy (EMTL), the Federal Government received N758.405 Billion, the States received N689.120 Billion, the Local Government Councils got N505.803 Billion, while the Oil Producing States received N141.395 Billion as Derivation, (13% of Mineral Revenue).

The sum of N115.278 Billion was given for the cost of collection, while N724.603 Billion was allocated for Transfers Intervention and Refunds.

The Communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax (VAT) for the month of October 2025, was N719.827 Billion as against N872.630 Billion distributed in the preceeding month, resulting in a decrease of N152.803 Billion.

From the stated amount, the sum of N28.793 Billion was allocated for the cost of collection and the sum of N20.731 Billion given for Transfers, Intervention and Refunds. The remaining sum of N670.303 Billion was distributed to the three tiers of government, of which the Federal Government got N100.545 Billion, the States received N335.152 Billion and Local Government Councils got N234.606 Billion.

Accordingly, the Gross Statutory Revenue of N2.164 Trillion received for the month was higher than the sum of N2.128 Trillion received in the previous month by N36.832 Billion .

From the stated amount, the sum of N84.490 Billion was allocated for the cost of collection and a total sum of N703.872 Billion for Transfers, Intervention and Refunds.

The remaining balance of  N1.376 Trillion was distributed as follows to the three tiers of government: Federal Government got the sum of N650.680 Billion, States received N330.033 Billion, the sum of N254.442 Billion was allocated to LGCs and N141.395 Billion was given to Derivation Revenue (13% Mineral producing States).

Also, the sum of N49.865 Billion from Electronic Money Transfer Levy (EMTL) was distributed to the three (3) tiers of government as follows: the Federal Government received N7.180 Billion, States got N23.935 Billion, Local Government Councils received N16.755 Billion, while N1.995 Billion was allocated for Cost of Collection.

Petroleum Profit Tax (PPT)/Hydrocarbon Tax (HT) and Company Income Tax (CIT) on Upstream Activities, Company Income Tax (CIT)/CGT and SDT, Oil and Gas Royalty, Import Duty, Excise Duty and CET Levies increased significantly, while Value Added Tax ( VAT), Electronic Money Transfer Levy (EMTL) and fees recorded decreases.

According to the Communique, the total revenue distributable for the current month of October 2025, was drawn from Statutory Revenue of N1.376 Trillion, Value Added Tax (VAT) of N670.303 Billion and the sum of N47.870 Billion from Electronic Money Transfer Levy (EMTL), bringing the total distributable amount for the month to N2.094 Trillion.

Signed
Mohammed Manga FCIA
Director, Information and Public Relations
November 19, 2025.

www.finance.gov.ng

In a bid to further strengthen economic ties between Nigeria and Poland, the Federal Government has advanced talks to boost trade and strategic investment, with key stakeholders exploring new areas of cooperation and mutual growth.

In line with this effort, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun today in his office in Abuja received a high-level Polish delegation led by Deputy Foreign Minister for Africa, Wojciech Zajączkowski.

The meeting focused on deepening economic cooperation and investment ties, with HM Edun welcoming Poland’s growing engagement while also highlighting Nigeria’s strengthened economic outlook driven by reforms, rising investor confidence, and improving macroeconomic indicators.

He encouraged Poland to take advantage of opportunities across manufacturing, digital infrastructure, renewable energy, mining, agriculture, and defence technology.

Building on this momentum, Deputy Minister Zajączkowski reaffirmed Nigeria as Poland’s top strategic partner in Africa, commending the government’s reform efforts and expressing readiness to expand private-sector partnerships, digital governance collaboration, and bilateral trade.

This development underscores the commitment of both nations to accelerate engagement, unlock new areas of cooperation, and support mutually beneficial investment and economic growth.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 14, 2025

www.finance.gov.ng

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has received in his office in Abuja, UNICEF’s new Country Representative, Hajar Saeed, to reinforce cooperation focused on human capital development and social protection. Mr. Edun noted that under President Bola Ahmed Tinubu’s reform agenda, investment in health, education, and social welfare is central to driving productivity, reducing inequality, and supporting private-sector growth.

Human capital is the engine of sustainable development. Our macroeconomic reforms are designed to improve lives, unlock economic potential, and ensure every Nigerian can participate in national growth, he said.

Ms. Saeed praised the government’s reform momentum and confirmed UNICEF’s commitment to aligning programmes with national priorities, including exploring innovative financing tools such as debt-for-development and debt-for-climate swaps. She described Nigeria as a pivotal nation globally, and reaffirmed UNICEF’s readiness to support results that improve child welfare, expand social coverage, and accelerate development outcomes.

The meeting marks a renewed phase of partnership aimed at ensuring Nigeria’s economic reforms deliver measurable social impact and long-term competitiveness.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 14, 2025

www.finance.gov.ng

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has commended the Medicaid Cancer Foundation for its ₦100 million disbursements to cancer patients and support organisations, describing it as a model of private-sector empathy driving social and economic impact.

Speaking at the Cervical Cancer Day Commemoration in Abuja, HM Edun said the initiative demonstrates how purposeful philanthropy can complement government efforts to build a healthier, more productive population.

This is more than a financial contribution. It is a statement of solidarity and shared responsibility, the Minister said. Every act of support for cancer patients strengthens our human capital base and reinforces national productivity, Edun added

He highlighted that the Federal Government has increased health sector funding from just over 3% of the national budget in 2023 to 5.2% in 2025, underscoring President Bola Ahmed Tinubu’s commitment to expanding access to quality health care.

Three of six planned regional oncology centres — in Katsina, Edo, and Enugu States — are now operational, bringing treatment closer to communities. The Minister praised Dr. Zainab Shinkafi-Bagudu, founder of the Medicaid Cancer Foundation, for her leadership in mobilising private resources for public good. Private initiative, anchored in compassion and partnership, remains vital to achieving a sustainable healthcare system, he noted. He explained that a healthy nation is the foundation for inclusive economic growth.

The Minister reaffirmed that the Tinubu administration will continue to create an enabling environment for private sector participation in health, ensuring that initiatives like Medicaids multiply across Nigeria.

Thus, with partnerships like this, Nigeria has taken a significant step towards a healthier and more prosperous future.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 13, 2025

www.finance.gov.ng

In a bid to drive economic growth and development, the Federal Government has taken a significant step by launching the Government–Private Sector (GPS) Dialogue Series: Finance and SME Growth Roundtable in Lagos. This initiative is part of the Renewed Hope Agenda, aimed at fostering collaboration between government officials and private sector leaders to tackle economic challenges and unlock new opportunities.

The event, which took place on Saturday at the Radisson Blu, Ikeja, Lagos, brought together key stakeholders to discuss priority issues, identify bottlenecks, and agree on practical next steps to improve access to finance and drive enterprise growth.

In his remarks, the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun assured of the President Bola Ahmed Tinubu Administration’s commitment to creating an enabling environment for all Nigerians to thrive and contribute to the growth of our nation’s economy.

Minister of State for Finance, Dr. Doris Uzoka-Anite in her welcome address stated, The purpose of this series is simple but profound: to bring together Federal and Lagos State officials, private sector leaders, and community representatives to surface priority issues, identify bottlenecks, and agree on practical next steps that will improve access to finance and drive enterprise growth.

Under the leadership of President Bola Ahmed Tinubu, we are committed to creating an economy where enterprise thrives, and entrepreneurs can build and grow their businesses with ease, Dr. Uzoka-Anite emphasized.

The Minister commended President Tinubu’s leadership and vision, noting that His Excellency’s Renewed Hope Agenda has brought a renewed sense of purpose and optimism to the Nigerian economy. His commitment to economic reforms and private sector-led growth is yielding positive results, and we are confident that with the support of the private sector, we can achieve our economic goals.

Dr Uzoka-Anite expressed her gratitude to the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, for his stellar leadership and tireless efforts in driving the economic agenda of the President Bola Ahmed Tinubu-led administration.

I want to sincerely
commend the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun, OFR and the agencies under his leadership for their unwavering commitment to the Renewed Hope Agenda and for working tirelessly to ensure the realization of President Tinubu’s economic vision, Dr. Uzoka-Anite added.

She further extended her appreciation to the Executive Governor of Lagos State, His Excellency Babajide Sanwo-Olu, for his support in ensuring the successful hosting of the GPS Dialogue Series. We are grateful for the Governor’s commitment to fostering a conducive business environment in Lagos State and for his unwavering support for initiatives that promote economic growth and development, she said.

The GPS Dialogue Series is designed to promote inclusive growth, entrepreneurship, and economic development, with a focus on Small and Medium-sized Enterprises (SMEs). The event also saw the announcement of the Lagos-Igbo Consultative Council, a platform for consultation, collaboration, and coordination on issues of mutual interest between the State Government and the Igbo business community.

Dr. Uzoka-Anite further highlighted the administration’s achievements, saying, The unification of the foreign exchange market, the removal of fuel subsidies, and decisive steps to enhance fiscal discipline have sent a clear message to investors at home and abroad: Nigeria is open for serious business once again.

The Minister urged business leaders to see themselves as nation-builders and partners in progress, working together to deliver shared prosperity and drive economic growth. Let us work hand in hand with the administration of President Bola Ahmed Tinubu to deliver the shared prosperity we all desire, she emphasized.

As the Federal Government and private sector leaders come together to drive economic growth and development, one thing is clear: Nigeria’s economic future is bright. With the GPS Dialogue Series, we can unlock new opportunities, foster collaboration, and build a more prosperous nation for all Nigerians.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 1, 2025

www.finance.gov.ng

At the 2025 Health Sector-Wide Joint Annual Review in Abuja, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun reaffirmed that health investment lies at the heart of Nigeria’s economic transformation agenda.

Commending Professor Muhammad Ali Pate, the Honourable Minister of Health and Coordinating Minister of Social Welfare, for his capacity, capability, and innovation, HM Edun said Nigeria’s health reforms have become a model of accountability and international recognition.

He revealed that the 2025 health budget has increased by nearly 60%, while the Basic Health Care Provision Fund has more than doubled. From ₦131 billion in 2024 to a projected ₦298 billion in 2026. He also confirmed plans to mobilise ₦150 billion for vaccine procurement, underscoring health as both a social priority and a growth catalyst for the private sector.

The health sector stands out for its transparency and impact. It demonstrates how good governance can attract investment and deliver inclusive growth, Edun said.

In remarks, Professor Pate welcomed the fiscal commitment, pledging continued innovation and partnership to strengthen Nigeria’s healthcare system.

The Federal Government’s substantial investment in the health sector is a testament to its unwavering commitment to the welfare of its citizens and the nation’s economic growth, paving the way for a healthier, more prosperous Nigeria.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 12, 2025

www.finance.gov.ng

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has hailed the listing of The MOFI Real Estate Investment Fund (MREIF) on the Nigerian Exchange (NGX) as a milestone in deepening Nigeria’s capital markets and advancing President Bola Ahmed Tinubu’s reform agenda.

HM Edun said the ₦100-per-unit fund opens a new pathway for ordinary Nigerians to save, invest, and participate in the nation’s economic growth, while supporting the administration’s goal of expanding affordable housing and inclusive investment opportunities. He noted that the NGX’s strong performance, up nearly 50% this year, reflects renewed investor confidence following fiscal and monetary reforms that are stabilising revenues, reserves, and the exchange rate.

The Minister reaffirmed government’s commitment to balanced tax reform and urged continued collaboration between the financial and technology sectors to make investing simple and accessible to all. A healthy capital market that empowers citizens to invest is the surest path to sustainable, inclusive growth, he said.

The listing of the MOFI Real Estate Investment Fund on the NGX is a significant step towards achieving the government’s goal of promoting inclusive growth and developing the country’s capital markets. With this development, Nigerians now have access to a new investment opportunity that can help them achieve their financial goals while also contributing to the country’s economic growth and development.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 12, 2025

www.finance.gov.ng

The Federal Government has taken a significant step towards boosting regional trade and inclusion in the Niger Delta region with the inauguration of the Project Steering Committee for the Niger Delta Ferry Service Project. The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Tuesday, participated in the inauguration of the Project Steering Committee, chaired by the Honourable Minister of Niger Delta Development, Engr. Abubakar Momoh.

The initiative aims to build a modern ferry and marine transport system to connect riverine communities across the Niger Delta, improving mobility, lowering the cost of trade, and unlocking economic opportunities in one of Nigeria’s most strategically important regions.

The Minister praised the renewed drive behind the project and underscored its role in enabling private-sector growth and social inclusion:

Efficient transport catalyses economic activity. When people and goods move more easily, markets expand, productivity rises and communities prosper. This initiative will support enterprise, improve access and strengthen the regional economy, he stated

The project forms part of the Federal Government’s Renewed Hope infrastructure agenda, focused on connectivity, investment mobilisation and inclusive development. Key ministries will work together to ensure effective execution and long-term sustainability.

Delivering waterway connectivity will allow SMEs, traders, workers and service providers to move with greater ease across the Niger Delta, reducing isolation for remote communities and opening new corridors for commerce, tourism and job creation.

The Niger Delta Ferry Service Project is a testament to the Federal Government’s commitment to driving economic growth, social inclusion, and regional development. With its successful implementation, the project is poised to unlock new economic opportunities, improve livelihoods, and foster sustainable development not only within the Niger Delta region but the country at large

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 5, 2025

www.finance.gov.ng