The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reaffirmed the pivotal role of the private sector in Nigeria’s economic revival, while also underscoring the decisive reforms that reshapes the nation’s economic landscape.
Speaking during the 60th Anniversary and 55th Annual Accountants’ Conference of the Institute of Chartered Accountants of Nigeria (ICAN) on Tuesday in Abuja, he commended the institute for six decades of professional excellence and integrity.
He noted that under President Bola Ahmed Tinubu’s leadership, bold reforms are restoring credibility and driving productivity across key sectors.
“These reforms are ushering in a new era that rewards innovation and enterprise over rent-seeking,” he said.
According to him, the results are becoming evident: GDP grew by more than 4% in Q2 2025, industrial output rose 7.45%, inflation eased to 20.1% in August, and a record ₦7.4 trillion trade surplus reflects renewed competitiveness.
He added that foreign reserves have also strengthened to $42 billion, while the naira has gained stability, narrowing the gap between official and parallel markets.
For the business community, the minister emphasised that government reforms are laying a foundation of transparency, predictability, and accountability.
“The private sector accounts for 90% of GDP and remains the engine of growth. Government’s role is to enable, not crowd out, enterprise,” Edun stated.
Looking ahead, the minister reaffirmed the government’s ambition to achieve 7% GDP growth through investment in infrastructure, export expansion, fiscal discipline, and digital public financial management.
The ICAN conference is a vital platform for dialogue on reforms, professional ethics, and sustainable development.
