The Federal Government is dedicated to reducing the cost of living and creating more employment opportunities in 2025, according to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. Speaking to reporters on Sunday in Lagos after a meeting with President Bola Ahmed Tinubu, Edun highlighted key strategies to stabilize the economy and ease the financial burden on Nigerians.
The minister revealed that efforts are being intensified to lower food prices through dry-season farming initiatives, alongside investment partnerships secured during an economic mission to Saudi Arabia. Edun, who recently led a federal delegation to the Kingdom, explained that the trip was a follow-up to President Tinubu’s earlier visits aimed at fostering trade, investment, and economic collaboration with Saudi leaders, including Crown Prince Mohammed bin Salman.
“We all went to follow up on the incisive, robust, and exhaustive economic diplomacy initiated by Mr. President,” Edun said. “In Saudi Arabia, the developing relationship with the Crown Prince has centred on trade, investment, financial cooperation, and economic partnerships. These engagements are yielding significant outcomes, including expanded foreign direct investment and trade opportunities.”
He disclosed that the Saudi Agricultural Livestock Investment Company (SALIC) has bolstered its investment in Nigeria’s agribusiness sector by committing an additional $1.2 billion to Olam. This investment is expected to enhance foreign exchange inflows, create jobs, and boost the agricultural economy.
Edun added, “The President’s efforts to stabilize Nigeria’s macroeconomic environment are attracting investments that bring foreign exchange and jobs for Nigerians. The Saudi investment in Olam exemplifies the success of this strategy.”
Addressing the broader economic outlook, the Minister emphasized ongoing measures to support dry-season farming, improve food supply, and curb inflation. He expressed optimism that these efforts will result in tangible relief for Nigerians, especially in reducing the cost of living.
Minister of Budget and Economic Planning, Atiku Bagudu, also assured Nigerians of brighter economic prospects in 2025. He emphasized the government’s commitment to social protection, infrastructure development, and security funding, which are expected to create a more resilient economy.
“We have made the tough choices and seen the worst of the challenges,” Bagudu stated. “What lies ahead is a better economy with lower inflation, more employment opportunities, business support, and improvements in education, health, and human capital development.”
The ministers reaffirmed that these initiatives are part of the government’s broader vision to enhance the well-being of Nigerians and strengthen the nation’s economic foundation.
