Edun Unveils Next Phase of Economic Reforms, Targets 7% Growth by 2027

By Afolabi Nelson

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the next stage of President Bola Tinubu’s economic reforms will focus on removing investment barriers, optimising national assets, and boosting productivity to achieve 7% annual growth by 2027.

Speaking before the Federal Executive Council (FEC) meeting in Abuja on Thursday, Edun said the reforms will include tariff and import policy reviews, tighter spending controls, better fiscal reporting, and a reassessment of federal and federation balance sheets to support inclusive growth.

He directed ministers overseeing key sectors such as infrastructure, mining, agriculture, education, health, digital innovation, blue economy, and culture to work with state governments in preparing investment-ready projects that can attract both local and foreign investors.

Edun reaffirmed the government’s goal of building a $1 trillion economy by 2030, stressing that accelerating output to 7% growth is vital to ending poverty.

He also noted that Nigeria’s economy grew by 4.23% in the second quarter of 2025, the highest in ten years outside the COVID-19 rebound, with 13 sectors recording growth above 7%.