Finance Minister announces the FG plans to reduce inflation, create …

The Minister of Finance and the Coordination of the Minister of Economy, Wale Edun, said that the Federal Government has planned to reduce the inflation rate to a single figure and create more jobs.

Edun declared it during a press conference addressed by the Nigerian economic team as part of the activities that marked the end of the 2025 International Monetary Fund and the spring meetings of the World Bank on Saturday in Washington DC, the United States of America.

He said the government was collaborating with development partners such as the World Bank to create jobs for Nigerians in search of sustainable employment and the eradication of poverty.

He said: “The goal is to create jobs at the local level, enhance young people and support them through essential infrastructures.

“This includes digital infrastructure, data access, internet and fiber optic networks, to allow them to work remotely.”

He said that the country’s unemployment rate dropped to 4.3 percent in the second quarter of 2024 from 5.3 percent in the first quarter 2024.

According to him, the world now faces a very uncertain future, but Nigeria is well positioned to survive shock despite high tensions, inflation and decrease in global growth.

The minister also said that the reform agenda of President Bola Tinubu was working and praised results.

The Governor of the Central Bank of Nigeria (CBN), Cardoso Olayemi, said that the government recognized the impact of inflationary pressure on the country.

Cardoso said: “We recognize that inflation remains the most disruptive force for the economic well -being of the Nigerians.

“Our political position is firmly focused on reducing inflation to individual figures in a sustainable medium -term way.”

The Governor of the CBN said that the painful reforms embarked by the country were now producing positive results.

He said: “At the meetings of the IMF the nation was a reference point of how the reforms could change the economic trajectory of a nation for the better.

“Reforms are not easy, but are offering results.

“We have gone from a position of vulnerability towards growing force”.

Cardoso said that the meaning of the efforts of Nigeria was the restoration of the trust of investors.

He added: “The town had a high -level investment forum on the Nasdaq market website in New York.

“This has provided insights on the positive impact of the reforms and the growth of appetite for investments in Nigeria by Nigerians and not Nigerians of the diaspora.

“The New York Forum has provided powerful results, has significantly strengthened the trust of investors in the foundations of the country’s market, with leading voices that affirm the economic progress of the country and the renewed position as a compelling destination of compelling investment”.

The Governor of the CBN said that the country recorded a balance of excess payments of $ 6.83 billion in 2024, mainly following the increase in exports and capital inflows.

According to him, this supported the stability of the national unity between the trust of investors, discouraged the speculative refereeing and closed the gap between the official and parallel market rates.

Cardoso said that the efforts of recapitalization were gaining momentum with maximum support and compliance by all interested parties in the banking sector.

He said that the government led by Tinubu has planned to put the nation on an ambitious trajectory to become an economy of 1 trillion of dollars by 2030.

According to him, CBN has set the capital base for financial financiers at national level, highlighting its goal of improving the ability of banks to finance large -scale projects and guide economic activities.

“The recapitalization of the banking sector is well started, with a strong momentum and alignment of the interested parties,” said Cardoso.

The president of the Senate Finance Committee, Senator Sani Musa, said that the country was doing well to reposition the financial system in order to restore trust.

Musa said: “The economic team of this administration is going very well on the tax aspect of our economy, so that poverty is reduced.

“I think we have done everything in terms of activities for tax reform invoices to make them achievable.”

The Nigeria (Nan) news agency recalls that the delegation, led by Edun, included Cardoso; General Manager of the debt management office, Patience Onheha; and other high government officials.

Nan reports that the delegation had a series of meetings with funds managers, global financial leaders and multilateral institutions investors.

In addition, meetings were held with other development partners to consolidate existing relationships, create new partnerships and spread the news of the dividends of the economic reforms of Nigeria.

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