Nigeria’s Fiscal Reset: Edun Champions Self-Reliance at UN Summit in Spain.
By Raymond Enoch
At the 4th International Conference on Financing for Development (FFD4) at Seville, Spain, Nigeria’s Federal Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has delivered an exclusive and powerful statement underscoring Nigeria’s strategic fiscal reset aimed at driving sustainable growth and economic self-reliance.
In a gathering of global financial leaders, development experts, and policymakers, Minister Edun laid bare Nigeria’s comprehensive approach to fiscal reforms, highlighting key initiatives that are reshaping the country’s economic landscape. Central to his address was the commitment to enhanced fiscal discipline through robust revenue mobilization, improved transparency, and prudent public expenditure management.
“The era of dependency must give way to a new chapter of self-sufficiency,” Edun emphasized, underscoring Nigeria’s drive to diversify its revenue sources beyond oil, a move crucial for long-term economic stability. He revealed ongoing reforms in tax administration, including the deployment of technology to improve tax collection efficiency and broaden the tax base, a step aimed at reducing Nigeria’s heavy reliance on external borrowing.
Furthermore, Edun advocated for a recalibration of the international financial architecture, urging global partners to support fairer tax regimes and stronger mechanisms to combat illicit financial flows that drain resources from developing economies. “It is imperative that the global community addresses the systemic inequalities that hinder growth in emerging markets,” he asserted.
Edun’s presentation also spotlighted Nigeria’s efforts to attract private sector investments through regulatory reforms and improved ease of doing business, positioning the private sector as a key driver of inclusive economic growth. He highlighted Nigeria’s commitment to transparency and fiscal accountability, which is crucial for building investor confidence and unlocking new financing avenues for development projects.
The Minister’s speech at the FFD4 conference marked a defining moment for Nigeria on the global stage, showcasing a nation determined to take charge of its economic destiny while calling for international solidarity in addressing common development challenges.
In exclusive remarks after the conference, Edun stressed that Nigeria’s fiscal reset is not just a policy agenda but a national imperative that requires collaborative efforts from all stakeholders — government, private sector, and international partners. “Our goal is clear: to build a resilient economy that can withstand shocks and deliver prosperity for all Nigerians,” he said.
As the world watches closely, Nigeria’s bold fiscal reforms and proactive engagement at the FFD4 signal a new era of hope and opportunity for Africa’s largest economy.
