Oyedele reassures investors of policy stability as government shifts focus from stabilisation to measurable growth….
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has delivered a strong message to investors: the Federal Government will stay the course on its economic reforms, with no intention of reversing direction.
Speaking in Lagos at the launch of the Nigerian Economic Summit Group’s Private Sector Outlook 2026, Oyedele emphasized that consistency in policy would remain a cornerstone of the administration’s economic strategy. He stressed that investors require clarity and predictability, warning that sudden policy shifts or mixed signals could erode confidence and stall progress.
“We are not looking back,” he said, underscoring the importance of ensuring that policy decisions made today remain reliable in the future.
His remarks come just days after he assumed office, following the exit of former finance minister Wale Edun from the Federal Executive Council. The transition marks what Oyedele described as a new phase in Nigeria’s economic journey moving beyond stabilisation toward growth driven by tangible results.
According to him, while there are early signs of macroeconomic improvement including better alignment in exchange rates and stronger government revenue, these gains must translate into real-world impact. Job creation, increased productivity, and improved living standards, he said, are the true measures of success.
Oyedele outlined several priorities aimed at attracting investment and sustaining growth. These include maintaining policy consistency, ensuring regulatory predictability, lowering the cost of doing business, and improving access to capital for businesses.
On financing, he revealed that the government is working to expand credit availability across key sectors, from consumer lending to large-scale industrial financing. Institutions like the Bank of Industry are expected to play a pivotal role in unlocking private sector participation.
He also highlighted the urgency of achieving stronger real GDP per capita growth, noting that modest economic expansion would not be sufficient to significantly reduce poverty given Nigeria’s rapidly growing population.
Beyond macroeconomic targets, the minister called for a shift in the country’s growth model. Rather than relying heavily on consumption, Nigeria must prioritise productivity and competitiveness in critical sectors such as agriculture, manufacturing, energy, and the digital economy.
Oyedele further stressed that meaningful economic transformation cannot be achieved by government alone. He called for deeper collaboration with the private sector, describing it as essential for sustainable development.
As Nigeria enters what he termed a “consolidation phase,” the government plans to deepen reforms, strengthen public financial management, and improve coordination across all levels of governance.
Despite acknowledging potential risks including inflationary pressures, reform fatigue, and political uncertainties ahead of future elections, Oyedele expressed confidence that disciplined execution and cooperation would keep the reform agenda on track.
“Our task now is execution,” he said. “This phase demands focus, consistency, and accountability.”
The renewed assurances come under the broader economic direction of President Bola Tinubu, whose administration has prioritised structural reforms aimed at stabilising and repositioning Africa’s largest economy.
