Posts in category: CatchUp

The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite has highlighted the progress made in Nigeria’s health sector, as the Federal Government’s macroeconomic reforms continue to yield positive results.

Speaking at the Health Works Leaders Coalition roundtable on the sidelines of the 2025 WBG/IMF Annual Meetings in Washington D.C., today, Dr. Uzoka-Anite noted that despite challenges, the health sector has seen significant improvements, with increased funding and strategic initiatives aimed at enhancing healthcare delivery.

While acknowledging that there is still a significant funding gap in the health sector, she however noted that the Federal Government has increased allocation to the Federal Ministry of Health and Social Welfare by almost 60% in the 2025 appropriation.

Dr Uzoka-Anite also highlighted the government’s efforts to boost financing and deepen value in the health sector, including the design, administration, and periodic review of Excise Tax on tobacco, alcohol, and sugar-sweetened beverages, with revenue from these excise taxes earmarked for Universal Health Coverage (UHC).

Additionally, the government, she said, has implemented a policy zero-rating medical equipment and drugs for Value Added Tax (VAT) purposes and secured concessionary financing in excess through the HOPE operation.

The Minister emphasized the need for a national compact to serve as a coordinating mechanism to align or pool fiscal resources toward national priorities, particularly in the health sector.

She thanked the World Bank for recognizing Nigeria as a priority country for showcasing its UHC COMPACT and for selecting Nigeria to lead efforts under the Africa Initiative for Access to Medicines and Local Manufacturing (AIM 2030).

Dr Uzoka-Anite reiterated the government’s commitment to advancing reforms and promoting sustainable growth, with a focus on improving the lives of Nigerians.

She expressed optimism about Nigeria’s economic prospects and called for continued support and partnerships to drive growth, productivity, and equitable development.

The Honourable Minister commended the Ministry of Health, under the leadership of the Honourable Minister of Health, Professor Ali Pate, and other relevant stakeholders, for their collaborative efforts in driving progress in Nigeria’s health sector.

This achievement, she said, is a testament to President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes improving the nation’s health and well-being.

The Minister’s remarks underscore the government’s unwavering commitment to advancing healthcare and economic prosperity for the benefit of all Nigerians.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
October 16, 2025

www.finance.gov.ng

A new era of economic growth and development is unfolding in Nigeria as foreign investors demonstrate confidence in the country’s reforms.

At the Nigeria Investors Forum held on the sidelines of the 2025 WBG/IMF Annual Meetings in Washington D.C., yesterday, the Central Bank Governor and leader of the Nigerian delegation to the meetings, Mr. Olayemi Cardoso assured investors of the government’s commitment to advancing reforms and unlocking opportunities for sustainable investment and growth.

The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite was among the top government officials who joined Mr. Cardoso at the event, demonstrating the commitment of President Bola Ahmed Tinubu-led Administration to creating an enabling environment for foreign investment.

The CBN Governor highlighted the country’s robust economic fundamentals, citing the $43.4 billion in external reserves, the highest level in five years. The Central Bank and the Ministry of Finance have been working hand in hand to ensure alignment, stability, and clarity for investors, he said.

Mr. Cardoso expressed optimism about Nigeria’s economic prospects, emphasizing the government’s commitment to strengthening the economy and promoting sustainable growth.

The CBN Deputy Governor, Mohammed Abdullahi, elaborated on the significant improvements in foreign exchange inflows, with monthly turnover in the forex market rising by 56.4% to $8.6 billion in 2025.

Over the last two years, we’ve really focused a lot on improving FX flows into the economy, and we’ve seen a significant jump. Average net flows between January 2023 and July have doubled, he said.

The Special Adviser to the President on Finance and the Economy, Sanyade Okoli, reiterated the Federal Government’s commitment to achieving 7% economic growth by 2027-2028 through diversification and investment in infrastructure.

Our target is 7% by 2027-2028. When the IMF increased its forecast a week later, for 2025 we are forecasting 4% growth, rising to around 5% next year,” Okoli stated.

She added that in Q2, 13% of sectors grew above 7%. Our dependence on oil for total exports has reduced to about 57.5% in the first half of this year compared to last year, and oil now accounts for about 4% of GDP, down from 8% in 2021.

Dr. Uzoka-Anite’s presence at the event demonstrates the Federal Government’s commitment to creating an enabling environment for foreign investment, in line with the Ministry’s mandate to drive economic growth and development.

With the government’s commitment to advancing reforms and promoting sustainable growth, Nigeria is poised to unlock new opportunities for economic development and prosperity. As the country charts its path towards a brighter future, investors and stakeholders alike are eager to be part of the journey.

Signed

Mohammed Manga FCAI

Director, Information and Public Relations

October 15, 2025

www.finance.gov.ng

As the world grapples with the impacts of climate change, Nigeria is taking bold steps to integrate climate resilience into its economic and financial policies. At the 14th meeting of the Coalition of Finance Ministers for Climate Action, held on the sidelines of the 2025 WBG/IMF Annual Meetings in Washington D.C, today, the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite reaffirmed Nigeria’s commitment to driving sustainable development and climate action.

The Coalition, co-chaired by the Finance Ministers of the Netherlands and Uganda, brings together global leaders to drive climate action and support the goals of the Paris Agreement. In her opening remarks, Dr. Uzoka-Anite warmly welcomed Bhutan to the coalition and congratulated the incoming Co-Chair while also commending Mr. Eclco  Heinen of the Netherlands and Hon. Henry Musasizi of Uganda for their exemplary leadership in steering the Coalition’s agenda.

The Minister explained that Nigeria is advancing a comprehensive resilience finance strategy that integrates fiscal reforms to strengthen budgetary resilience, innovative instruments such as green bonds and carbon markets, as well as strategic partnerships to mobilize concessional and blended finance. This approach, Uzoka-Anite said, will enable the country to introduce debt vulnerabilities while channelling resources into projects that protect livelihoods and promote inclusive, climate-resilient growth

To achieve this, she stated, Nigeria is scaling nature-based solutions that deliver both mitigation and adaptation benefits, with transparent use of proceeds for infrastructure such as irrigation, transport, and early warning systems. The Minister informed that the country is also expanding its sovereign green bond programme with the successful issuance of the third green bond to finance both mitigation and adaptation priorities, and is now exploring international green bond issuance.

Dr. Uzoka-Anite stated further that We are committed to integrating climate change into our economic and financial policies. Our resilience finance strategy is designed to promote inclusive, climate-resilient growth and protect the livelihoods of our citizens. She emphasized the need for fair and predictable access to climate finance, stronger global collaboration to accelerate resilience investments, and enhanced support from development partners to blend concessional finance with private capital.

As Nigeria continues to navigate the complexities of climate change, Dr. Uzoka-Anite reiterated the country’s commitment to the principles of the Coalition and the Baku to Belem Roadmap, saying, We are ready to move from dialogue to delivery and from resilience to shared prosperity.

As Nigeria charts its path towards a climate-resilient future, the country’s commitment to innovative finance and global collaboration will be crucial in driving sustainable development and protecting the lives of millions of its citizens.

Signed

Mohammed Manga FCAI

Director, Information and Public Relations

October 15, 2025

www.finance.gov.ng

In a significant stride towards strengthening economic cooperation, Nigeria and the Islamic Development Bank (IsDB) yesterday deepened their partnership through a bilateral meeting in Washington D.C, led by Dr. Doris Uzoka-Anite, Honourable Minister of State for Finance. This strategic engagement underscores Nigeria’s commitment to driving economic growth and development, particularly under the Renewed Hope Agenda of President Bola Ahmed Tinubu’s Administration.

The meeting, which was attended by a high-level delegation from the IsDB, provided an opportunity to discuss various areas of mutual interests and explore avenues for advancing ongoing cooperation between Nigeria and the IsDB. Discussions focused on identifying more areas of collaboration that would yield tangible benefits for the Nigerian economy, including Sukuk financing, Sharia-compliant financing, and innovative financial instruments.

The dialogue was built on existing collaborations between Nigeria and IsDB, including initiatives in agricultural development, renewable energy, infrastructure development, education, and healthcare. The two parties also looked at  opportunities for exploring cooperation in special agro-industrial processing zones and halal economy development. This partnership is expected to create jobs, stimulate economic growth, reduce poverty, and improve the overall well-being of Nigerians.

Dr. Uzoka-Anite said, This meeting underscores the strong bond between Nigeria and the IsDB. Under the Renewed Hope Agenda, President Bola Ahmed Tinubu’s Administration remains committed to repositioning our economy and driving infrastructure development. We appreciate IsDB’s support and look forward to leveraging their expertise to accelerate our economic growth and development initiatives.

The meeting marks a significant step forward in Nigeria’s efforts to strengthen its economic ties with international partners, demonstrating the government’s proactive approach to fostering economic cooperation and dialogue with global institutions.

As Nigeria continues to navigate the complexities of global economic trends, partnerships with institutions like the IsDB will play a crucial role in driving sustainable development and improving the lives of Nigerians.

Signed

Mohammed Manga FCAI

Director, Information and Public Relations

October 15, 2025

www.finance.gov.ng

As the world watches, Nigeria’s economic prospects are shining brighter, with the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, joining the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, as part of the Nigerian delegation at today’s G24 meetings on the sidelines of the IMF/World Bank Annual Meetings in Washington D.C. The meetings provided a platform for discussions on key themes such as domestic resource mobilization, inflation, and sound macroeconomic policies.

During the meetings, Cardoso disclosed that Nigeria’s trade surplus has risen to 6% of the nation’s Gross Domestic Product (GDP) and is expected to remain at that level in the near term. He attributed the improved balance of trade to sound macroeconomic policies that are beginning to yield positive results.

The CBN Governor also highlighted the importance of maintaining sound macroeconomic policies, noting a strong correlation between disciplined economic management, growth, and disinflation. He further disclosed that the apex bank is working on a framework to make currency swaps with other countries a win-win affair.

Dr. Uzoka-Anite’s participation in the meetings underscores the Nigerian government’s commitment to engaging with international financial institutions and stakeholders to drive economic growth and development. Her presence at the G24 meetings demonstrates the government’s proactive approach to fostering economic cooperation and dialogue with global partners.

The meetings mark a significant step forward for Nigeria’s economic growth and development, as the country continues to engage with international financial institutions and stakeholders to drive progress and improve the lives of its citizens.

Signed

Mohammed Manga FCAI

Director, Information and Public Relations

October 14, 2025

www.finance.gov.ng

Nigeria has taken a significant step towards deepening its economic partnership with international development agencies, following a high-level bilateral meeting between the Federal Ministry of Finance and representatives of the Japan International Cooperation Agency (JICA), and the Multilateral Investment Guarantee Agency (MIGA).

The meeting, which took place yesterday on the sidelines of the ongoing World Bank Group and IMF Annual Meetings in Washington D.C., was attended by the Honourable Minister of State for Finance, Dr Doris Uzoka-Anite and other members of the Nigerian delegation.

During the meeting, the parties engaged in discussions focused on exploring opportunities to further support Nigeria in attracting Foreign Direct Investments (FDI) and strengthening the current pipeline projects

The Nigerian Government reiterated its commitment to leveraging international partnerships to drive economic growth and development, while JICA and MIGA expressed their continued support for Nigeria’s development agenda.

The meeting highlights the strong international commitment to Nigeria’s economic prospects and underscores the potential for enhanced partnership between the Nigerian Government and international development agencies.

As Nigeria continues to prioritize economic diversification and growth, the collaboration with JICA and MIGA is expected to play a key role in unlocking new opportunities for the country.

Signed

Mohammed Manga FCAI

Director, Information and Public Relations

October 14, 2025

www.finance.gov.ng

As the global economy continues to evolve, Commonwealth nations are coming together to harness their collective strength and unlock new opportunities for growth, trade, and development. Against the backdrop of the World Bank and IMF Annual Meetings in Washington D.C., Nigeria’s Minister of State for Finance, Dr. Doris Uzoka-Anite joins her counterparts from across the Commonwealth in a quest to boost economic resilience, enhance infrastructure, and foster sustainable development.

The meeting, held on the sidelines of the World Bank and IMF Annual Meetings in Washington D.C., brought together Finance Ministers from across Commonwealth nations. The ministers discussed strategies to boost trade among member countries.

According to the Commonwealth Secretariat, intra-Commonwealth trade is on average 21% cheaper and is projected to reach two trillion dollars by 2030. Nigeria’s Minister of State for Finance, Dr. Doris Uzoka-Anite joined her counterparts to advocate increased funding for the Commonwealth development agenda aimed at lifting millions out of poverty.

With collective action and determination, the Commonwealth nations are set to achieve a brighter economic future, driving growth, prosperity, and improved livelihoods for millions across the Commonwealth of nations.

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

www.finance.gov.ng

The Honourable Minister of State for Finance Dr Doris Uzoka-Anite has joined the Executive Governor of Imo State Hope Uzodimma and thousands of young people to celebrate the 3rd Cohort of SkillUp Imo, a groundbreaking programme that has trained 50,000 young Nigerians especially Imolites in cutting-edge digital skills

The programme, which Dr Uzoka-Anite helped conceive, has seen 10,000 new graduates join the ranks of skilled youth in app development, data analytics, AI, cybersecurity, fintech, digital marketing, cloud, IoT, and more. This achievement is a testament to the power of vision and execution.

The graduation ceremony, which coincided with the International Day of the Girl Child, saw Dr. Uzoka-Anite expressing pride in the young girls and women who have benefited from the programme. I am proud of our young girls who have taken advantage of this opportunity to upskill and reskill in the digital economy, she said. We remain committed to widening access, scholarships, and mentorship so more girls can lead in STEM and shape the future of our region, the Minister assured

Dr Uzoka-Anite’s commitment to empowering Imo’s youth is evident in her visionary leadership and dedication to the programme. Next, we go bigger for the region, she declared, as the Minister looked forward to expanding the programme’s reach and impact.

Dr Uzoka-Anite commended Governor Uzodimma for his unwavering support and President Bola Ahmed Tinubu for strengthening subnational capacity to fund and scale programmes like SkillUp Imo.

In his remarks, Governor Hope Uzodimma noted, Today, we celebrate not just the graduates of SkillUp Imo, but the future of our state and nation. This milestone is a testament to what we can achieve when we invest in our youth and empower them with the skills to succeed.

With this achievement, Imo State has cemented its position as a hub for digital innovation and talent development, paving the way for a brighter future for generations to come.

Signed

Mohammed Manga FCAI

Director, Information and Public Relations

The Federal Ministry of Finance wishes to address recent media reports suggesting that the Federal Government has discontinued the practice of allowing revenue-generating agencies such as the Federal Inland Revenue Service (FIRS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigeria Customs Service (NCS) to deduct their cost of collection at source.

We categorically state that these reports are inaccurate and misleading.

At no point during his remarks at the Nigeria Development Update (NDU) programme hosted by the World Bank did the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announce or imply any change to the existing policy on the cost of collection deductions.

For the avoidance of doubt, there has been no policy change regarding the deduction of costs of collection at source by revenue-generating agencies. The current framework remains in effect.

What is underway are ongoing policy discussions in line with the directives of His Excellency, President Bola Ahmed Tinubu, to review cost of collection structure. These discussions are part of broader efforts to enhance transparency, efficiency, and value-for-money in public financial management. However, no final decision has been made on this matter.

The Ministry assures all stakeholders and the public that revenue operations continue uninterrupted and that any future adjustments will be guided by due process, stakeholder engagement, and clear communication.

We urge media organisations to seek clarification from official sources before publishing information that may cause unnecessary confusion. The Ministry appreciates the continued support of Nigerians as we work collectively to build a stronger, more transparent, and sustainable economy.

Signed

Mohammed Manga, FCAI

Director, Information and Public Relations

October 8, 2025

www.finance.gov.ng

The Federal Government has reiterated its commitment for stronger collaboration with the private sector with a view to driving inclusive economic growth and development.

Speaking during the closing ceremony at the 31st Nigerian Economic Summit (NES), the Honourable

Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun commended the Nigerian Economic Summit Group (NESG) for convening a productive dialogue that brought government, business leaders, and civil society together to align behind reforms essential to Nigeria’s ambition of a $1 trillion economy by 2030.

He stressed that the Summit was about commitments, not communiqués, and confirmed that its outcomes would be translated into a time-bound reform matrix, integrated into the Medium-Term National Development Plan.

Highlighting infrastructure as a catalyst for growth, Mr. Edun pointed to Nigeria’s Highway Development Management Initiative, targeting 5,300 kilometers of roads under public-private partnerships, more than twice Indonesia’s comparable achievement in 2022. This, he noted, demonstrates government’s determination to leverage private capital to expand infrastructure, boost competitiveness, and unlock new opportunities across ECOWAS and AfCFTA markets.

The Minister also reaffirmed investment in human capital as central to Nigeria’s productivity, citing continued commitment to health, education, and livelihoods through the National Human Capital Development Programme.

For the private sector, the Summit provided clarity on reform priorities and underscored government’s resolve to deliver a more predictable and enabling environment for business growth. Reforms must translate into better living standards and lift millions out of poverty. That is the true measure of inclusive growth and the promise of the Renewed Hope Agenda, HM Edun concluded.

Signed

Mohammed Manga, FCAI

Director, Information and Public Relations

October 10, 2025

www.finance.gov.ng