Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says Nigeria’s economy is experiencing steady growth. According to him, the Gross Domestic Product (GDP) grew by 4.23% in the second quarter of 2025, the highest quarterly growth in 10 years outside the post-COVID rebound.
At the Presidential Villa in Abuja, President Bola Tinubu also swore in two new ministers: Dr. Kingsley Udeh (Enugu State) and Dr. Bernard Doro (Plateau State). Udeh replaces Chief Uche Nnaji, who resigned over an alleged forged certificate, while Doro replaces Prof. Nentawe Yilwatda, now APC National Chairman.
Speaking after Edun’s economic briefing, President Tinubu said the oversubscription of Nigeria’s $2.3 billion Eurobond shows renewed global confidence in the economy despite political concerns. He reaffirmed the government’s commitment to building a prosperous and resilient nation.
Edun highlighted key improvements driven by ongoing reforms. The industrial sector nearly doubled its growth, rising from 3.72% to 7.45%. Inflation dropped to 18%, foreign reserves increased above $43 billion, and the trade surplus rose to ₦7.4 trillion.
He added that Nigerians now spend about half of their income on basic needs, compared to nearly 90% previously an indication of better living standards and improved productivity.
Edun also noted that Nigeria’s removal from the FATF grey list has boosted global investor confidence, with institutions such as the IMF and World Bank upgrading growth projections and improving the country’s credit ratings.