FG Committed to Improving Living Standard of Nigerians —Wale Edun

Nigerian minister of finance, and Coordinating Minister of the Economy, Mr. Wale Edun, has assured Nigerians and the international community that the federal government’s reform efforts are geared towards ensuring an improved living standard for all the citizens.

The assurance was contained in the minister’s reaction on Wednesday, to the release of the International Monetary Fund’s (IMF) findings on Nigeria, following the conclusion of the Article IV Consultation in April 2025.

In a statement titled “Statement on the IMF Article IV Consultation on Nigeria’ dated July 02, 2025, signed by Mohammed Manga, Director, Press and Public Relations, Federal Ministry of Finance and obtained by our correspondent, the minister of finance said that even, as the federal government is working towards consolidating on the gains recorded by its ongoing reforms initiatives, measures are in place to mitigate the downside risks painted by the IMF in its report.

While the minister noted the IMF’s positive outlook, which affirms that Nigeria’s economic reforms have positioned the country to better withstand external shocks, he emphasized that the government is monitoring developments in the international oil market and global trade environment, and is also taking responsive measures to mitigate potential risks, while maintaining momentum toward inclusive growth.

In response to the down- side risks highlighted in the IMF’s report, particularly uncertainties in the global economy, Mr. Edun reaffirmed the government’s proactive stance. He emphasized that the implementation of the 2025 Budget is being carried out with a focus on safeguarding reform gains and ensuring economic stability.

“The Federal Government remains fully committed to sound economic management that promotes macroeconomic stability, broad-based growth, and improved living standards for all Nigerians” Edun reassured.

Earlier, in his statement, the minister welcomed the release of the International Monetary Fund’s (IMF) findings on Nigeria, following the conclusion of the Article IV Consultation in April 2025.

Mr. Edun expressed appreciation for the IMF’s recognition of the Federal Government’s ongoing reform efforts and the tangible progress achieved over the past two years. These reforms have contributed to notable improvements in Nigeria’s fiscal and external positions, bolstering investor confidence and strengthening the resilience of the economy.

The Minister also welcomed the Fund’s acknowledgment of advancements in the agricultural sector, particularly increased food production, which has contributed to moderating inflation. As of May 2025, headline inflation eased to 22.9%, while food inflation declined to 21.4%—both improvements from the higher levels recorded during the IMF mission.

He further noted the IMF’s positive outlook, which affirms that Nigeria’s economic reforms have positioned the country to better withstand external shocks.