Mkpoikana Udoma
Port Harcourt — Nigeria’s external reserves have risen sharply from under $4 billion to over $23 billion, as the Federal Government intensifies efforts to stabilize the economy and attract investment, Finance Minister, Wale Edun, has announced.
Edun, who is also the Coordinating Minister of the Economy, made the disclosure during the second quarter 2025 Citizens and Stakeholders Engagement on the Implementation of Presidential Priorities and Ministerial Deliverables, organized by the Federal Ministry of Finance.
The Minister linked the rise in reserves and renewed investor confidence to ongoing economic reforms, credit rating upgrades, and a pipeline of major energy investments.
“We are now in the third phase of our reform agenda, focused on accelerating investment-led growth that delivers jobs, reduces inflation, and lifts millions out of poverty. Our trajectory is clear: from macro-economic correction to national transformation.”
He said the Ministry had made measurable progress in stabilizing the foreign exchange market, growing fiscal revenues, and driving industrial development, all aligned with President Bola Tinubu’s Renewed Hope Agenda.
Also speaking, Minister of State for Finance, Dr. Doris Uzoka-Anite, emphasized the critical role of accountability and public-private dialogue in shaping a more transparent economic framework.
“This platform enables citizens and the private sector to hold us accountable while shaping a more responsive and transparent economy,” she said.
She reiterated the Ministry’s commitment to effective policy delivery and stakeholder engagement that drives inclusive and sustainable development.
Permanent Secretary, Special Duties, Mr. Raymond Omenka Omachi, stressed that cross-government coordination is key to sustaining reform momentum.
“We are working across ministries and agencies to ensure that reforms are not just announced, but effectively implemented with measurable impact,” he stated.
The stakeholder forum brought together leaders from the private sector, civil society, and development institutions, offering a rare window into the government’s economic dashboard and reform performance.
With investor sentiment improving and reforms gaining traction, the Ministry’s second-quarter briefing signaled strong policy direction toward a growth-focused, inclusive economy.
