Nigeria's economy is undergoing a major transformation under President Bola Ahmed Tinubu, anchored on reforms aimed at restoring stability, attracting investment, and improving citizens' welfare.
Speaking at the Oxford Global Think Tank Leadership Conference in Abuja, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said the administration's economic vision is focused on inclusive growth, transparency, and accountability.
Edun explained that while reforms have brought short-term challenges such as higher food and transport costs, targeted interventions are cushioning the impact. Central among these is the direct cash transfer programme for 15 million households — Nigeria's largest social protection scheme — designed to ensure verified, transparent, and digital payments directly to beneficiaries.
He said the digital-first model ensures that every beneficiary is identifiable through their National Identity Number (NIN), eliminating corruption and ghost accounts. "This government is not just fixing numbers; it is building a transparent system that delivers for real people," Edun said.
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The minister also announced a ward-based development initiative that will channel resources directly to Nigeria's 8,809 wards to empower local entrepreneurs and small businesses. The programme, he said, will boost grassroots productivity and create jobs, ensuring the benefits of reform reach every community.
Edun emphasized that the reforms reflect President Tinubu's Renewed Hope Agenda — prioritizing inclusion, transparency, and empowerment. "Our goal is an economy that grows from the bottom up, where every Nigerian feels the impact of reform," he added.
Also speaking at the event, former World Bank Vice President and ex-Director-General of the Securities and Exchange Commission, Ms. Arunma Oteh, commended the government's economic direction but called for increased mobilization of long-term capital to fund infrastructure and unlock Nigeria's mineral wealth.
She noted that Nigeria's over 40 commercially viable minerals represent untapped opportunities that can accelerate diversification and drive sustainable growth under the Tinubu administration's economic transformation plan.
