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🇳🇬 Nigeria /Economy & Trade

Oyedele backs reform, rules out policy U-turns

From The Punch · (3h ago) English

Summarized and contextualized by DistantNews.

TLDR

  • Nigeria's Finance Minister Taiwo Oyedele assured investors that the government will not reverse ongoing economic reforms, emphasizing policy consistency.
  • Oyedele stated the administration is shifting from stabilization to growth, focusing on measurable outcomes like job creation and improved living standards.
  • Key priorities for attracting investment include policy predictability, reduced business costs, and better access to capital, with a focus on expanding credit across the economy.

Nigeria's economic landscape is undergoing a critical transformation, and Minister of State for Finance, Taiwo Oyedele, has sent a clear signal to investors: the government is committed to its reform agenda.

We are not looking back

— Taiwo OyedeleMinister of State for Finance and Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele, assuring investors of the government's commitment to ongoing economic reforms.

Speaking at the Nigerian Economic Summit Group Private Sector Outlook 2026, Oyedele underscored the importance of policy consistency, a vital element for building investor confidence. He articulated a vision for moving beyond mere stabilization to achieving tangible growth, with reforms to be judged by their impact on job creation and living standards, not just intentions.

This commitment to a predictable economic environment is crucial for Nigeria, a nation striving to attract significant investment. The focus on expanding credit and improving the ease of doing business signals a proactive approach to stimulating private sector participation. The administration's emphasis on real GDP per capita growth highlights an understanding of the scale of the challenge in tackling poverty, especially given Nigeria's population dynamics.

businesses need to know that today’s decisions will still hold tomorrow.

— Taiwo OyedeleMinister of State for Finance and Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele, emphasizing the importance of policy consistency for investor confidence.

From a Nigerian perspective, these assurances are not just policy statements; they represent a potential turning point. The success of these reforms will be measured by their ability to translate into improved livelihoods for ordinary Nigerians. The focus on productivity, moving beyond consumption, is particularly resonant, as it speaks to building a more sustainable and self-reliant economy.

Reforms on their own do not create growth. We need investment at scale

— Taiwo OyedeleMinister of State for Finance and Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele, highlighting the need for substantial investment to drive economic growth.
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Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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