The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reaffirmed the central role of the private sector in driving Nigeria’s economic recovery and sustainable growth, while highlighting the bold reforms reshaping the nation’s economic landscape.
Speaking at the 60th Anniversary and 55th Annual Accountants’ Conference of the Institute of Chartered Accountants of Nigeria (ICAN), held on Tuesday in Abuja, Mr. Edun commended the institute for six decades of professional excellence, integrity, and contribution to national development.
He noted that under the leadership of President Bola Ahmed Tinubu, far-reaching reforms are restoring economic credibility, stimulating productivity, and unlocking opportunities across critical sectors of the economy.
“These reforms are ushering in a new era that rewards innovation and enterprise over rent-seeking,” the Minister stated.
According to him, the impact of these policy measures is already evident: Nigeria’s GDP expanded by over 4% in the second quarter of 2025, industrial output rose by 7.45%, inflation eased to 20.1% in August, and a record N7.4 trillion trade surplus underscored renewed competitiveness. He further noted that foreign reserves have strengthened to $42 billion, while the naira continues to gain stability, narrowing the gap between the official and parallel market rates.
Mr. Edun emphasised that the government’s ongoing reforms are designed to establish a foundation of transparency, predictability, and accountability—critical conditions for private sector confidence and long-term investment.
“With the private sector accounting for 90% of GDP, it remains the true engine of Nigeria’s economic growth. Government’s role is to create an enabling environment, not to crowd out enterprise,” he said.
Looking ahead, the Minister reaffirmed the administration’s ambition to achieve a 7% GDP growth rate through strategic investments in infrastructure, export diversification, fiscal discipline, and digital transformation in public financial management.
He commended the Institute of Chartered Accountants of Nigeria for its enduring role as a custodian of professional ethics and a partner in shaping discourse on economic reforms and sustainable development. The ICAN Annual Accountants’ Conference, he noted, continues to provide a vital platform for collaboration between policymakers, professionals, and the business community in charting Nigeria’s economic future.
