The Global Economic Policy Initiative (GEPIn) has applauded the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, for the significant progress recorded in stabilising Nigeria’s economy under his stewardship.
Speaking on behalf of the group, its Convener, Mr. Bernard Okri, said the recent settlement of more than N2 trillion in outstanding capital budget arrears from the 2024 fiscal year demonstrates the Federal Government’s commitment to restoring fiscal credibility, boosting investor confidence, and ensuring the smooth implementation of developmental projects across the country.
According to GEPIn, this decisive action is already yielding positive results.
“By clearing these arrears, the Federal Government has eased the burden on contractors and project financiers, thereby stimulating renewed activity in infrastructure development, expanding employment opportunities, and supporting the broader growth agenda of the administration.”
The group also commended the improvement in the fiscal health of subnational governments, noting that States’ fiscal surplus has risen from N2.8 trillion in 2023 to N7.1 trillion. This, GEPIn said, provides States with greater fiscal space to channel resources into critical sectors such as infrastructure, healthcare, and education, areas that directly impact the quality of life of Nigerians.
“These reforms reflect a disciplined approach to fiscal management and the pursuit of policies that are gradually stabilising the economy,” Mr. Okri stated. “We believe that if sustained, these efforts will not only accelerate economic recovery but also create a more resilient foundation for inclusive growth across the country.”
GEPIn further urged stakeholders to support the Federal Government’s ongoing reforms, stressing that collective action remains vital in translating macroeconomic gains into tangible benefits for citizens.