NASS Approves 2025 Budget for Finance Ministry, Edun Confirms Economic Recovery

NASS Approves 2025 Budget for Finance Ministry, Edun Confirms Economic Recovery-OXYGIST

The Nigerian Senate has approved the Ministry of Finance's ₦38 billion budget for 2025, with Finance Minister Wale Edun expressing optimism about the nation’s economic recovery.


During the budget defense session on Monday in Abuja, Edun, who also serves as the Coordinating Minister of the Economy, detailed the progress made under the Bola Tinubu administration. He emphasized the impact of key reforms aimed at stabilizing and revitalizing the economy.


According to a statement by the Ministry’s spokesperson, Mohammed Manga, Edun was accompanied by Minister of State for Finance Dr. Doris Uzoka-Anite, Permanent Secretary Mrs. Lydia Shehu Jafiya, Accountant General of the Federation Dr. Oluwatoyin Sakirat Madein, and other top officials from the Ministry.


Edun highlighted transformative policies, including the liberalization of the foreign exchange market, deregulation of petroleum prices, and the expansion of domestic refining capacity.


“These measures, though initially challenging, are designed to drive fiscal stability, reduce inefficiencies, and establish a more sustainable economic framework,” Edun stated.


He acknowledged the discomfort these reforms might cause in the short term but underscored their potential to stimulate long-term economic benefits such as job creation, poverty reduction, and enhanced economic resilience.


Edun also emphasized the government’s focus on infrastructure development, particularly in digital networks and energy, as critical to boosting productivity and attracting private sector investments.


Commending the Ministry’s efforts, the Senate Committee on Finance praised its leadership for maintaining fiscal discipline and spearheading initiatives that promote economic recovery.


Looking ahead, Edun expressed confidence in the nation’s brighter prospects, saying, “These reforms will transform Nigeria’s economic landscape and significantly improve the standard of living for its citizens.” 

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