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Nigeria recorded a strong Gross Domestic Product (GDP) growth rate of 11.2 per cent in US dollar terms in 2025, reinforcing the country’s ambition to build a $1 trillion economy by 2030, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said.
Speaking during engagements with global investors in Paris, Oyedele said the growth reflects increasing investor confidence and the impact of ongoing economic reforms being implemented by the Federal Government.
According to him, the administration remains committed to market-driven policies and long-term fiscal stability as part of efforts to attract investment and stimulate economic expansion.
“We will not bring back fuel subsidy because it creates distortions for the economy, and we won’t introduce price control because we believe in the market,” the minister stated.
Oyedele noted that current geopolitical tensions involving Iran could also create new opportunities for Nigeria as global investors and energy markets seek alternative destinations.
“The situation in Iran presents new opportunities for us as the world looks to diversify sources of energy and invest in new markets,” he added.
The minister maintained that the Federal Government’s reform agenda is focused on creating a more competitive economy through fiscal discipline, investor-friendly policies, and private sector-led growth.
The remarks come amid ongoing reforms under President Bola Ahmed Tinubu’s administration, including the removal of fuel subsidy, tax reforms, and foreign exchange liberalisation aimed at repositioning Africa’s largest economy for sustainable growth.
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