Posts in category: News

In a significant step towards deepening economic ties between Nigeria and Tunisia, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, met with Tunisia’s Minister of Economy and Planning, Samir Abdelhafidh, on the sidelines of the AATB and AHEB meetings in Abuja. The meeting aimed to advance deeper economic collaboration between the two nations.

During the meeting, HM Edun reaffirmed President Bola Ahmed Tinubu’s priority to boost intra-African trade and unlock private-sector opportunities, noting that Africa currently trades more with the rest of the world than with itself.

He highlighted Nigeria’s ongoing reforms — including measures to attract investment, strengthen the business environment, and support vulnerable households — positioning the economy for sustainable growth.

This partnership must move from conversation to execution. A joint working group will ensure follow-through and practical outcomes, Edun said.

Tunisia expressed strong interest in expanding commercial ties, particularly in tourism, manufacturing, pharmaceuticals, and SME development. Minister Abdelhafidh also confirmed plans for a direct Tunis–Abuja air link by 2026, improving mobility for investors and businesses.

Both sides agreed that stronger Nigeria–Tunisia cooperation will support private-sector growth, expand market access, and advance Africa’s broader objective of economic integration.

As Nigeria and Tunisia embark on this new chapter of economic cooperation, both nations are poised to reap the benefits of strengthened trade and investment ties, driving growth and development across the continent.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 28, 2025

www.finance.gov.ng

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has called for deeper trade collaboration between African and Arab Nations, stressing the importance of value-added Agribusiness and industrial partnerships for regional growth.

Speaking in Abuja at the Agribusiness Matchmaking Forum ahead of the AATB Board of Governors Meeting, the Minister said the shifting global economy makes it essential for African and Arab nations to rely more on regional cooperation, investment and shared markets.

He highlighted projections showing Arab–African trade could grow by more than $37 billion in the next three years and urged partners to prioritise value addition rather than raw commodity exports. He noted that Nigeria’s growing industrial base and upcoming National Single Window reforms will support efficiency, investment and private-sector expansion.

This is a moment to turn opportunity into action, he said. By working together, we can build stronger value chains, create jobs and support prosperity across our regions, Edun emphasized

As African and Arab nations embark on this journey of deeper trade collaboration, the potential for growth and development is vast. With a shared vision and commitment to value-added partnerships, we can unlock new opportunities, drive economic growth, and create a brighter future for our people.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 27, 2025

www.finance.gov.ng

The Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun has emphasized the critical role of water as a strategic economic asset, calling for urgent collective action to improve access, boost productivity, and reduce climate vulnerability.

The Minister made the call in Abuja on Wednesday when he joined national stakeholders for the launch of the Lokoja Dialogues. A platform advancing community-led solutions to strengthen water security, climate resilience, and sustainable development across Nigeria.

In his remarks, HM Edun underscored the role of water as a strategic economic asset and called for coordinated investment, innovation and collaboration to improve access, boost agricultural productivity, reduce climate vulnerability and support inclusive growth.

The Federal Ministry of Finance remains committed to reforms that strengthen resilience, empower communities, and unlock sustainable economic opportunities for all Nigerians.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 27, 2025

www.finance.gov.ng

In a significant boost to Nigeria’s economic diversification efforts, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has reiterated the Federal Government’s commitment to supporting private-sector investments that drive industrialisation, deepen supply chains, and create sustainable employment.

This commitment was underscored during a meeting held in his office in Abuja with executives from Folay West African Limited, where the company outlined its expansion plans to boost Nigeria’s manufacturing capacity and strengthen the agricultural value chain.

Folay Industries, a fully Nigerian-owned FMCG company operating from the Lekki Free Zone, has invested more than ₦11 billion in local production, sourcing grains domestically and creating jobs through backward integration.

The company is among a growing group of indigenous manufacturers replacing imports with competitive, made-in-Nigeria products. The Honourable Minister, who welcomed the progress, noted that initiatives like Folay Industries represent the shift toward value-added production — a critical priority for economic diversification and long-term growth.

The meeting between HM Edun and Folay Industries’ leadership demonstrates the Federal Government’s unwavering support for the manufacturing sector. As Nigeria continues to navigate the complexities of economic diversification, such partnerships with the private sector will be crucial in driving growth, creating jobs, and building a resilient economy, positioning the country for a brighter future.

Signed
Mohammed Manga FCAI
Director, Information and Public Relations
November 26, 2025

www.finance.gov.ng

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