The Federal Government has pointed to a stabilising exchange rate and a recent decline in inflationary pressures as evidence that its economic reforms are beginning to yield positive results.
The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, stated that these improvements are setting the stage for a “more resilient and diversified economy.” He made these comments during a press briefing ahead of the 31st Nigerian Economic Summit, which is scheduled to take place in Abuja this October.
Represented by the Director of Macro Economy in the Ministry, Dr. Felix Okonkwo, the minister acknowledged the current economic challenges facing Nigerians but expressed confidence in the administration’s policy direction.
He said: “Economic reforms and policy initiatives we have implemented are designed to address structural weaknesses, enhance productivity, and position Nigeria for long-term prosperity. While we recognize the economic challenges facing the country, we are confident that our policies will yield the desired results. The stabilization of the exchange rate, declining inflationary pressures, and improvements in fiscal management are already setting the stage for a more resilient and diversified economy.
“Our focus remains on driving job creation, reducing poverty, increasing non-oil revenue, and improving our external financial position. We call on all stakeholders including the private sector, development partners, and the Nigerian people to support these efforts. The journey towards economic transformation requires collective commitment, innovation, and perseverance. Together, we can build an economy that is inclusive, competitive, and capable of delivering shared prosperity for all.”
Represented by the Director of Macro Economy in the Ministry, Dr. Felix Okonkwo, the minister stated that the 31st Nigerian Economic Summit is anchored on reforms, resilience, and results, which complement the government’s medium-term objectives, especially as the nation consolidates its gains and pushes towards sustainable growth and development.
He noted that Nigeria is at a pivotal point-having embarked on bold and courageous reforms that are beginning to reshape our economy, restoring stability, and laying the groundwork for sustainable development.
Speaking, the Chairman NESG, Niyi Yusuf, said over the years NES has remained a constant platform for setting national priorities, pushing evidence-based reforms, and building consensus between government and the private sector.
Yusuf said: ‘As we move into the Agenda 2050 era, the lessons of these 30 years are not just history, they are a call to action. The Nigerian Economic Summit has shown that even in the face of volatility, evidence-based dialogue and courageous reform can redirect the course of a nation.
“Today, we must sustain this momentum, deepen the culture of collaboration, and commit to the structural reforms that will define Nigeria’s next three decades. Our task at NES #31 is clear: to translate resilience into renewal, and reforms into real, inclusive prosperity for every Nigerian.”
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