… Says Execution Now Key As Growth Phase Begins
The Federal Government has ruled out any reversal of ongoing economic reforms, declaring that the focus has now shifted from policy stabilisation to full-scale execution aimed at driving growth, attracting investment, and improving living standards.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, gave the assurance on Thursday at the launch of the Nigerian Economic Summit Group (NESG) Private Sector Outlook 2026 in Lagos, where he warned that policy inconsistency could undermine investor confidence and slow down economic recovery.
According to him, the government would maintain a clear and consistent reform direction, stressing that Nigeria had reached a point where execution, not policy announcements, would determine economic success.
“We are not looking back,” Oyedele said.
“Businesses need to know that today’s decisions will still hold tomorrow. Mixed signals or abrupt reversals will only weaken progress.”
His comments came barely 48 hours after he assumed office following changes in the Federal Executive Council.
Oyedele explained that the administration was transitioning from a stabilisation phase to a growth-driven phase, where reforms would be judged strictly by measurable outcomes such as job creation, productivity gains and improved incomes.
He noted that early macroeconomic indicators, including improved exchange rate alignment and stronger revenue performance, showed signs of progress, but warned that such gains must translate into real economic benefits for citizens.
The minister listed policy consistency, regulatory predictability, lower cost of doing business and improved access to credit as critical priorities for unlocking investment in the next phase.
On financing, he said the government was working to expand credit flow across the economy, including consumer and industrial lending, with support from institutions such as the Bank of Industry, to stimulate private sector participation and boost production.
Oyedele also stressed that Nigeria must achieve stronger real GDP per capita growth if it hopes to significantly reduce poverty, noting that modest growth figures would be insufficient given the country’s population size.
“Reforms on their own do not create growth. We need investment at scale,” he said, adding that investors respond more to stability and predictability than policy rhetoric.
He urged a shift from consumption-driven expansion to productivity-led growth, with greater focus on agriculture, manufacturing, energy and the digital economy as key drivers of competitiveness.
The minister also called for stronger collaboration between government and the private sector, saying sustainable economic development could not be achieved through public policy alone.
While acknowledging risks such as reform fatigue, inflationary pressures and political uncertainties ahead of the election cycle, Oyedele expressed confidence that the challenges could be managed through discipline and coordinated action.
“Our task now is execution,” he said. “This phase demands focus, consistency and accountability. That is the direction we are pursuing.”
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
