The Federal Government has said its economic reform agenda is not merely aimed at restoring macroeconomic stability but at achieving sustained growth and shared prosperity for Nigerians.
Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, stated this on Thursday in Abuja at the launch of the October 2026 Nigeria Development Update (NDU) by the World Bank, titled “Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities.”
Oyedele said while the government had made progress in stabilising the economy after years of significant challenges, the ultimate destination of its reforms was stronger economic growth and improved prosperity across the country.
The minister spoke during a panel session on Nigeria’s economic progress featuring the Deputy Governor of the Central Bank of Nigeria, Mr Lamido Yuguda; Katsina State Governor, Mallam Dikko Umaru Radda; and the Chief Executive Officer of the Nigerian Economic Summit Group (NESG), Dr Tayo Aduloju.
The session was moderated by Ms Nancy Illoh-Nnaji, Executive Producer of MoneyLine with Nancy.
The World Bank’s latest NDU, which tracks developments in Nigeria’s economy and its outlook, also highlighted the impact of bold macroeconomic reforms on fiscal revenues at the state level.
The report noted that higher revenues have begun to reshape priorities among state governments, with implications for public spending and service delivery.
Details later…
