Posts in category: News

The Federal Government has reaffirmed its commitment to implementing the 2026 Budget, a budget of consolidation aimed at driving economic growth, improving security, and enhancing the welfare of Nigerians.

The Honourable Minister of State for Finance Dr Doris Uzoka-Anite, gave the assurance on Monday when she presented the budget to the Senate, highlighting key reforms and priorities.

She stated that the 2026 budget focuses on strengthening macroeconomic stability, accelerating infrastructure delivery, improving security, and ensuring fiscal discipline through tax reforms and effective implementation.

The Minister explained that prudent fiscal management and revenue mobilisation will be prioritised, alongside tax reforms, to broaden the tax base and enhance compliance. Dr Uzoka-Anite explained further that strategic investments in security, infrastructure, and education will also be pursued, leveraging public-private partnerships and development finance to accelerate growth.

The 2026 Budget represents a decisive shift from stabilisation to growth, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda. The Minister reaffirmed the government’s commitment to implementation, monitoring, and delivering tangible benefits to Nigerians, ensuring that the budget translates into improved security, infrastructure, and economic opportunities for all.

Signed
Office of the Honourable Minister of State for Finance
February 10, 2026

This week in his office in Abuja, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, led strategic engagement with global energy and finance partners to advance Nigeria’s leadership under Mission 300, the continental effort to expand electricity access and drive economic growth.

The discussions focused on accelerating delivery and mobilising investment to strengthen Nigeria’s power sector, recognising reliable electricity as essential to productivity, industrial expansion, digital inclusion, and job creation.

HM Edun reaffirmed that Mission 300 is central to Nigeria’s economic strategy, highlighting the country’s early adoption of the Compact, the establishment of a joint Finance and Power delivery unit, and growing momentum in distributed renewable energy, supported by innovative financing and private sector partnerships. Anna Bjerde, Managing Director of Operations at the World Bank Group, commended Nigeria’s reform progress, describing the country as a potential game changer for Mission 300 due to its scale and leadership, and noting that ongoing programmes are already expanding electricity access.

The Honourable Minister of Power, Adebayo Adelabu, underscored alignment with President Bola Ahmed Tinubu’s economic mandate, citing advances in sector reform, metering, transmission restructuring, and regional power integration.

All parties agreed to accelerate implementation, attract capital at scale, and ensure Mission 300 delivers measurable economic impact for Nigerians.

Signed
Mohammed Manga, fcai, amnipr
Director, Information and Public Relations
February 6, 2026

www.finance.gov.ng

President Bola Ahmed Tinubu today received Nigeria’s newly appointed Tax Ombudsman, John Nwabueze, at the State House, Abuja, as his administration advances far reaching reforms to strengthen tax administration and revenue governance.

The establishment of the Office of the Tax Ombudsman is a key pillar of President Tinubu’s economic reform agenda, designed to improve transparency, enhance dispute resolution, reduce multiple taxation, and protect citizens and businesses from undue fiscal burdens.

The Office will serve as an independent channel for addressing complaints across taxes, levies, customs duties and regulatory charges, supporting a fairer and more predictable business environment.

Also in attendance were the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the Chief of Staff to the President, Femi Gbajabiamila. This reform strengthens public sector accountability, boosts investor confidence, and reinforces Nigeria’s competitiveness, laying firm foundations for inclusive growth and long term economic stability.

Signed
Mohammed Manga, fcai, amnipr
Director, Information and Public Relations
February 5, 2026

www.finance.gov.ng

A landmark healthcare investment deal takes centre stage as Nigeria pushes for economic diversification and growth when the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, attended the signing of a landmark agreement in Abuja, between the Nigeria Sovereign Investment Authority (NSIA), the International Finance Corporation (IFC), and MedServe, aimed at expanding access to diagnostics, oncology, and cardiology services nationwide.

The Minister reaffirmed President Bola Ahmed Tinubu’s commitment to strengthening healthcare through increased investment and effective public private partnerships, noting that recent budget gains reflect a clear focus on building resilient social infrastructure. He highlighted NSIA’s expanding oncology network as proof that world class healthcare assets can be built locally, creating jobs, attracting capital, and reducing Nigeria’s multibillion dollar medical tourism spend.

HM Edun underscored healthcare as both a public necessity and a growth sector, stressing that stronger domestic capacity boosts productivity, keeps capital within the economy, and supports long term human capital development. He also commended IFC’s role, describing the agreement as a scalable model that combines financing and technical expertise to unlock private investment and widen access to care, with additional support from the World Bank (WB).

The Minister called for replication of the NSIA MedServe model across other sectors, describing it as a template for inclusive growth, stronger public services, and long term economic resilience.

This partnership signals a bold step towards self-reliance in healthcare, unlocking jobs, and keeping Nigeria’s capital at home.

Signed
Mohammed Manga, fcai, amnipr
Director, Information and Public Relations
February 5, 2026

www.finance.gov.ng

Nigeria’s economic reform agenda receives global backing as key stakeholders affirm confidence in the country’s growth potential this week in Abuja when the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun held strategic talks with Anna Bjerde, Managing Director of Operations at the World Bank Group, alongside senior officials.

The meeting reaffirmed President Bola Ahmed Tinubu’s clear economic direction and rising global confidence in the country’s reform programme. The Minister highlighted strong momentum across key sectors, driven by decisive policy action and a renewed focus on growth, investment, and job creation. Discussions centred on expanding reliable electricity, strengthening agriculture, accelerating digital infrastructure, improving trade flows, and unlocking private sector investment, all central to building a more productive and competitive economy.

Nigeria also reaffirmed its leadership in energy reform and its ambition to serve as a regional economic hub, supported by Abuja’s role as host city to the Economic Community of West African States (ECOWAS). Ms. Bjerde welcomed Nigeria’s reform progress and commended the government’s clarity of purpose, noting increasing confidence from international markets and partners.

She reaffirmed support for Nigeria’s investment led growth agenda, with emphasis on infrastructure delivery and private sector participation. Both sides agreed on accelerating implementation, attracting capital at scale, and creating opportunities for Nigeria’s growing population.

This milestone underscores Nigeria’s commitment to sustainable economic growth and positions the nation as a key player in regional and global markets.

Signed
Mohammed Manga fcai, amnipr
Director, Information and Public Relations
February 5, 2026

www.finance.gov.ng

The Niger State Government has presented the Certificate of Occupancy (C -of- O) to the Federal Government for the Sustainable Integrated Productive Communities (SIPC) programme, a landmark initiative combining mass housing, agriculture, renewable energy, and enterprise development to drive inclusive growth.

Speaking at the event in her office in Abuja on Thursday, the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite said the programme is a structured settlement plan for farmers aimed at strengthening agricultural value chains and improving livelihoods.

By anchoring farmers in stable communities with access to basic infrastructure, this project will enhance productivity, reduce post-harvest losses, improve security, and encourage youth participation in agriculture.

She noted that insecure settlements, rural-urban migration, and poor infrastructure have constrained farming communities, and the programme tackles these challenges directly.

The programme goes beyond agriculture, with integrated renewable energy solutions, including solar-powered homes and community facilities, to support agro-processing and storage, while promoting efficient land use, access roads, water supply, and environmentally responsible construction.

Governor Mohammed Umaru Bago pledged Niger State’s commitment to the initiative, citing the state’s land resources and focusing on agricultural development.

This project will bring revolution to Nigeria in terms of industrialisation, agriculture, livestock, security, and more.

He offered 100,000 hectares for the pilot phase and announced plans to give every local government in Niger State 10 tractors with two combined harvesters to assist locals in production.

Permanent Secretary, Federal Ministry of Finance, Mr. Raymond Omenka Omachi assured stakeholders of the Ministry’s commitment to driving policy initiative, transparency, and accountability in implementing the SIPC programme, aligning with the President Tinubu’s vision for sustainable development.

The programme adopts an innovative financing model blending public assets with private investment, promoting sustainability and shared risk.

MOFI’s Managing Director, Armstrong Takang, highlighted the initiative’s focus on ensuring rural communities benefit directly from Nigeria’s land and asset base.

The SIPC programme is positioned to attract developers, financial institutions, pension funds, and agribusiness investors, with Niger State offering 100,000 hectares for the pilot phase.

The Federal Ministry of Finance reaffirms its commitment to supporting state governments in delivering impactful, sustainable development programmes.

Signed:

Federal Ministry of Finance, Abuja
January 22, 2026

Speaking at Nigeria House, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun outlined Nigeria’s reform agenda, emphasising fiscal discipline, macroeconomic stability, and the government’s commitment to building a predictable, investor-friendly economic environment.

He noted that Nigeria has moved decisively from stabilisation to consolidation, embedding reforms that support private-sector-led growth, strengthen institutions, and restore confidence in the economy

Nigeria House serves as a one-stop hub for dialogue and deal-making at WEF
Nigeria’s positioning is an emerging destination for sustainable, long-term investment in an increasingly uncertain global economy.

Signed
Mohammed Manga, fcai, amnipr
Director, Information and Public Relations
January 25, 2026

www.finance.gov.ng

The Federal Government of Nigeria has welcomed the decision of the European Commission to remove Nigeria from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).

The decision, contained in a European Commission Delegated Regulation released this week amending Delegated Regulation (EU) 2016/1675, follows Nigeria’s earlier removal from the Financial Action Task Force (FATF) list of Jurisdictions under Increased Monitoring in October 2025, after the successful completion of its FATF Action Plan.

According to the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, this important milestone was only possible due to the extraordinary leadership, unwavering political will, and clear reform vision of His Excellency, President Bola Ahmed Tinubu, GCFR, under whose administration AML/CFT reforms were prioritised as a core component of Nigeria’s economic governance and financial system stability agenda.

President Tinubu’s decisive leadership ensured strong inter-agency coordination, sustained engagement with international partners, and the full implementation of critical legal, regulatory, and institutional reforms required to address the strategic deficiencies previously identified in Nigeria’s AML/CFT framework.

The European Commission, in its assessment, concluded that Nigeria has significantly strengthened the effectiveness of its AML/CFT regime and satisfactorily addressed the technical and strategic deficiencies highlighted by the FATF. As a result, Nigeria has been removed from the EU list of high-risk third countries, alongside other jurisdictions that have demonstrated similar progress.

This development represents another major boost to Nigeria’s global financial credibility. It is expected to ease enhanced due diligence requirements for Nigerian individuals, businesses, and financial institutions transacting with European counterparts, improve correspondent banking relationships, enhance investor confidence, and further integrate Nigeria into the international financial system.

The Honourable Minister commended the collective efforts of all stakeholders involved in this achievement, including financial sector regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory authorities, the judiciary, and private sector operators, whose professionalism and commitment were instrumental to the successful reform outcomes.

While welcoming this decision, Mr. Edun reaffirmed Nigeria’s commitment to sustaining and deepening AML/CFT reforms. Nigeria will continue to work closely with the FATF, the European Union, and other international partners to ensure that its financial system remains resilient, transparent, and aligned with global best practices.

The removal of Nigeria from both the FATF grey list and the European Union’s high-risk list sends a clear and positive signal to the global community that Nigeria is firmly on the path of reform, transparency, and economic renewal under the leadership of President Bola Ahmed Tinubu.

Signed
Mohammed Manga, fcai, amnipr
Director, Information and Public Relations

www.finance.gov.ng

President Bola Ahmed Tinubu congratulates Mr Wale Edun, Minister of Finance and Coordinating Minister of the Economy, on his appointment to the Royal Victorian Order by His Majesty King Charles III.

King Charles III appointed Mr Edun as Commander of the Royal Victorian Order (CVO) in recognition of his longstanding work with the Duke of Edinburgh’s International Award.

The Duke of Edinburgh’s International Award is a global youth development programme that supports young people worldwide in building character, skills, and leadership, including in Nigeria, where thousands of young people currently benefit from the programme.

President Tinubu welcomes the exceptional honour bestowed on the Minister, a pivotal member of his cabinet, and acknowledges that the recognition aligns with the priority his administration places on youth empowerment, opportunity, and national renewal.

The President commends Mr Edun’s industry and dedication, and reaffirms his administration’s commitment to developing Nigeria’s youth as leaders of today and tomorrow.

Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
December 30, 2025

Nigeria remains firmly on a path of peace, stability, and economic progress.

In light of recent enquiries following the targeted joint security operation by Nigeria and the US conducted in Sokoto on Christmas Day, I wish to reassure investors, analysts, and our multilateral partners that Nigeria is not at war with itself, nor with any nation. What Nigeria is decisively confronting—alongside trusted international partners—is terrorism. This distinction is important, and it is fundamental to understanding the positive economic implications of recent actions.

The operation in question was precise, intelligence-led, and focused exclusively on terrorist elements that threaten innocent lives, national stability, and economic activity. Far from destabilising markets or weakening confidence, such actions strengthen the foundations of peace, protect productive communities, and reinforce the conditions required for sustainable growth. Security and economic stability are inseparable; every effort to safeguard Nigerians is, by definition, pro-growth and pro-investment.

Under the leadership of President Bola Ahmed Tinubu, GCFR, Nigeria has made tangible and measurable progress on both security and economic reform. These gains are evident in our macroeconomic performance. In the third quarter of 2025, Nigeria recorded GDP growth of 3.98%, following a strong 4.23% growth in Q2. We expect a stronger Q4 2025 GDP performance. Inflation has decelerated for the seventh consecutive period and is now below 15%, reflecting improving price stability and the effectiveness of coordinated fiscal and monetary actions.

Our financial markets remain resilient. Domestic and international debt markets are stable and functioning efficiently, supported by prudent fiscal management. Over the past year, Nigeria has received credit rating upgrades from Moody’s, Fitch, and Standard & Poor’s—clear, independent endorsements of the strength of our reforms and the credibility of our economic direction. We have maintained fiscal discipline, prioritised efficiency, and protected macroeconomic stability—demonstrating resilience in the face of external shocks.

As President Bola Ahmed Tinubu noted in his address last week, our overarching objective for 2026 is to consolidate the gains of 2025, strengthen Nigeria’s economic resilience, and continue building a sustainable, inclusive, and growth-oriented economy. The actions we take today—on security, reforms, and fiscal discipline—are aligned with that goal.

As markets reopen on Monday, 29 December 2025, investors can be confident that Nigeria remains focused, reform-driven, and committed to stability. The fundamentals are strengthening, the policy direction is clear, and the resolve of this administration—to protect lives, secure prosperity, and grow the economy—is unwavering.

Nigeria remains open for business, anchored in peace, and firmly focused on the future.

Wale Edun, OFR
Honourable Minister of Finance
and Coordinating Minister of the Economy
December 28, 2025

www.finance.gov.ng