Nigeria Is a Safe Investment Destination, Finance Minister Edun Tells Global Investors

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reaffirmed the country’s position as a secure and promising investment hub.

Speaking at the Nigeria Investment Forum held during the ongoing World Bank/International Monetary Fund (IMF) Spring Meetings in Washington, D.C., Edun highlighted the economic reforms undertaken by the administration of President Bola Tinubu and reassured potential investors of Nigeria’s commitment to macroeconomic stability and private sector growth.

“The Nigerian government is maintaining fiscal discipline while working to diversify and stabilise the economy,” Edun said. “We are implementing reforms that will make Nigeria even more attractive to private sector investment.”

He underscored the government’s commitment to asset optimization as a key strategy to reduce budget deficits, citing the recent restructuring of the Nigerian National Petroleum Company Limited (NNPCL).

“One of the reasons for the new leadership at NNPCL is to boost production and cut operational costs,” he explained. “The government also remains committed to the sanctity of contracts, which is essential for investor confidence.”

Edun said the administration’s reforms are beginning to yield results, with the economy showing signs of expansion. The government’s target is 7% annual economic growth, he added, emphasizing that the foundational policies put in place have created a path to achieving this goal.

He pointed to signs of macroeconomic recovery, including:

• Narrowing budget deficits

• An improving trade balance

• A stabilizing exchange rate

Agriculture, Edun said, remains a top priority, with the government focusing on developing the entire value chain to enhance food security and productivity.

“Our goal is not to import more food but to empower local producers to scale and innovate,” he said.

On digital infrastructure, Edun revealed that approximately 90,000 km of fibre optic cable has been laid to improve nationwide digital connectivity, while the government is also investing in Nigeria’s growing tech and youth sectors.

Additionally, he disclosed that 4,000 km of roads have been offered for private sector involvement, with 1,000 km already signed off for implementation.

Joining him at the forum, the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, echoed Edun’s message, noting that the challenging reforms introduced over the past 18 months are already producing positive outcomes.

“These reforms have stabilised the macroeconomy, and recent upgrades from international rating agencies like Fitch reflect growing global confidence in Nigeria’s economic direction,” Cardoso said.

Acknowledging the difficulties faced over the last year and a half, he added, “This is about restoring confidence and trust. We are rebuilding an economy that is stronger, more resilient, and more inclusive. The direction is right, and if we stay the course, our goals are within reach.”