Nigeria’s economy has achieved stability over the past year and a half. According to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, Nigeria’s GDP grew by 3.84 per cent in the fourth quarter of 2024, while inflation has begun slowing, dropping 1.3 per cent between January and February, with food and energy prices also declining. 

The stabilisation of the exchange rate has reduced costs for imported goods and services, including healthcare and education, while increased government revenue and a positive trade balance have strengthened fiscal conditions.

“With this progress, the government is now focusing on further stabilisation and creating an environment that encourages private sector investment. […] We are also leveraging technology to enhance revenue generation from government-owned enterprises,” Edun added.

According to the News Agency of Nigeria, a partner of TV BRICS, Edun also expressed confidence in Nigeria’s economic trajectory, emphasising that continued stabilisation and private sector involvement are vital for long-term growth.

Photo: iStock

Source: TV BRICS