The Coordinating Minister of the Economy and Minister of Finance, Mr Wale Edun, has called on top management staff of the Federal Ministry of Finance to take the lead in driving reforms that will push Nigeria’s economic growth to 7% per annum.
Edun issued the charge on Friday during the opening session of the 2025 Ministerial Performance Management Retreat held at the Banquet Hall of the Government House in Yola, Adamawa State.
This was disclosed in an official statement signed by the Director of Information and Public Relations, Mohammed Manga.
The two-day retreat, themed “Strengthening Performance Management for Fiscal Stability,” brought together directors from across the ministry and other key stakeholders to review policy outcomes and enhance implementation capacity within the context of Nigeria’s fiscal objectives.
“The expectations of government and Nigerians are higher than ever. You are the engine room of policy execution. The performance of this Ministry is, to a large extent, a reflection of your effectiveness,” Edun said.
He emphasised that while the economy has achieved some measure of stability, the focus going forward is on accelerating inclusive growth, in line with President Bola Tinubu’s Renewed Hope Agenda.
Adamawa hosts retreat, performance reforms in focus
Edun commended the Governor of Adamawa State, Ahmadu Umaru Fintiri, for hosting the strategic retreat and praised the state’s commitment to aligning with national development priorities.
The Deputy Governor, Professor Kaletapwa Farauta, who represented Governor Fintiri, said,
“Adamawa remains committed to national development goals. We are honoured to host this retreat, which speaks to the importance of aligning local governance with federal fiscal reforms.”
Also speaking at the retreat, the Permanent Secretary of the Ministry, Mrs Lydia Shehu Jafiya, highlighted the urgency of improving institutional performance in a context of limited fiscal space and growing public expectations.
“As we navigate the realities of limited resources, rising public expectations, and the need for efficiency in governance, performance management becomes not only relevant but critical to our fiscal stability and collective success,” she stated.
Jafiya urged directors to internalise a performance-driven culture to ensure transparency and efficiency in public finance management, as the Ministry positions itself to play a central role in the country’s economic transformation.
The retreat is expected to serve as a springboard for aligning internal structures of the Ministry with key macroeconomic goals, especially in supporting Nigeria’s drive for growth, stability, and poverty reduction.
What you should know
- According to him, although Nigeria’s economy is currently growing at an average of 3.4% in 2024, this level of growth is insufficient to lift millions of Nigerians out of poverty.
- The minister outlined key strategies to achieve this ambitious target, stressing the importance of boosting agricultural productivity, expanding digital infrastructure, supporting young entrepreneurs through e-commerce initiatives, and improving access to financing for businesses of all sizes.
