By Christiana Ekpa
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has informed the House of Representatives that, there are positive indicators for a positive performance of the country’s economy in 2025.
He stated this while giving an overview on the expected 2025 budget proposal and the Medium-Term Expenditure Framework and Fiscal Strategy Paper on Monday.
Speaking to the Minister before his presentation, the Chairman, House Committee on National Planning and Economic Development, Rep. Ibrahim Ayokunle Isiaka who presided over the session with the Minister asked him to give a brief on the state of the economy and some other details.
He said, “But briefly, as we have said, what is the state of our economy, number one, as in our finances. Then number two, in terms of our revenue so far with the projections we have for 2025,
“Let us have an insight into the previous, into whether we are looking good, especially in terms of our GDP and in terms of inflation rates as submitted. So that we can note all this down and we’ll be able to submit our report”.
Responding, the Minister said, going by the projection on increased revenue in 2025 as well as other measures taken, the country is moving away from factors that had in the past impacted negatively on the Nigerian economy and affected its people.
He said, “We do have market pricing and foreign exchange. That has resulted in a situation whereby upwards of 5% of GDP has been lost to plurality of factors benefiting just a few and created long-sighted incentives against growth and investment”.
Edun noted that, as the revenue goes up, it will help lower debt service, lower borrowing as the economy improves and becomes more competitive.
