‘Economy is growing but Tinubu not satisfied’ – Finance Minister Speaks on Nigeria’s GDP Growth

Nigeria’s Minister of Finance and Coordinating Minister for the Economy, Wale Edun, says the country is “on the right track” as key indicators show signs of economic recovery and growth. Speaking in Abuja, Edun explained that the country’s real GDP growth is improving steadily, but the government has set its sights even higher.

“The evidence that things have started to turn, that we are on the right track, is there for all to see,” Edun said confidently.

He noted that the economy is growing at a rate of about 3.4% to 3.8%, which is better than before, but still not enough to meet the goals of President Bola Tinubu’s administration.

“That’s not the aim. That’s not the objective. That’s not the target of Mr. President,” Edun stressed.

According to the Finance Minister, the government is working towards a 7% GDP growth rate per year, which would be more than double Nigeria’s population growth rate. This, he said, would allow millions of Nigerians to be lifted out of poverty through sustainable development.

“At 7%, we will be creating real economic change that touches the lives of ordinary Nigerians,” he said.

Edun also touched on the country’s inflation rate, which has been a major burden for households. He revealed that inflation is now declining, with the latest report from the National Bureau of Statistics showing it at 22.97%.

“It’s coming down month after month. It’s going in the right direction,” he said, adding that the government is determined to tackle inflation head-on, especially for the sake of the poorest and most vulnerable.

Global Investors Eye Nigeria

On investment, Edun further revealed that a high-level delegation from Brazil is coming to Nigeria to discuss a multi-billion dollar livestock project. He said this is part of a growing global interest in Nigeria’s economy.

“It’s becoming a narrative that Nigeria is a place to head for investment — in agriculture, oil and gas, infrastructure, rails, ports, and toll roads,” he explained.

He added that by attracting large-scale investment and building economic momentum, Nigeria will move from low-level growth to rapid, inclusive, and lasting development.