Nigeria’s Minister of Finance, Wale Edun, has stated that the country expects an ambitious 7 per cent annual Gross Domestic Product, GDP, growth to effectively reduce poverty.
Edun made this disclosure on Monday while speaking at the Arise TV and KPMG 2025 Budget Insights event.
He projected a positive economic outlook for Nigeria in 2025, highlighting President Bola Ahmed Tinubu’s commitment to improving the ease of doing business.
According to him, the president plans to leverage private sector investment to drive economic growth.
He further noted that the 2025 budget of N54.9 trillion is designed to enhance the lives of Nigerians, with expectations of a stronger revenue boost.
“The economy has made significant progress in 2024. Most of it is linked to improvements in the country’s security. These are the early indicators of a broader economic recovery.
“We anticipate further economic growth, with GDP expected to reach 4.6 per cent in 2025 However, to effectively reduce poverty, we aim for an ambitious 7 per cent annual GDP growth,” he stated.