By Matthew Denis
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, delivered Nigeria’s statement at the G-24 Ministerial Meeting during the 2025 IMF World Bank Spring Meetings in Washington D.C. yesterday.
This was confirmed in a statement issued by Mohammed Manga, Director of Information and Public Relations, on Wednesday.
As First Vice-Chair of the G-24, Minister Edun outlined President Bola Ahmed Tinubu’s commitment to structural reforms, including the removal of fuel subsidies, unification of foreign exchange rates, and comprehensive tax policy reforms. He stressed that the administration is focused on stabilising the macroeconomy and fostering a more resilient and inclusive economic environment.
The Minister called on the IMF and the World Bank to recognise and support reform-driven economies, particularly those in Sub-Saharan Africa, by providing greater access to affordable financing and introducing innovative instruments to assist in their transitions.
Minister Edun also welcomed the IMF’s recent creation of a third Sub-Saharan Africa Chair and advocated for greater African representation at senior management levels within the Bretton Woods institutions.”Nigeria is open for business,” he said.
He concluded by emphasising that while reforms are crucial, for them to realise their full potential, the international community must offer substantial and targeted support to match Nigeria’s ambitions.
