STAKEHOLDERS ENGAGEMENT: External Reserves Rise From $4 billion To Over $23 billion- Edun
Oru Leonard
As The Federal Government of Nigeria renewed commitment to economic reform and development took center stage today, the Federal Ministry of Finance held its Citizens and Stakeholders Engagement on the Implementation of Presidential Priorities and Ministerial Deliverables for second quarter of 2025 in Abuja on Monday.
This is just as the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who provided a comprehensive update on the implementation of presidential priorities and ministerial deliverables during a presentation, disclosed that a substantial rise in external reserves, from under $4 billion to over $23 billion. He noted that renewed investor confidence, evidenced by credit rating upgrades and major energy investments has contributed to the positive outcome.
He outlined progress across key reform pillars, stabilising foreign exchange markets, expanding fiscal revenues, driving industrial investment, and improving social outcomes for Nigerians.
*We are now in the third phase of our reform agenda, focused on accelerating investment-led growth that delivers jobs, reduces inflation, and lifts millions out of poverty,* the Minister said. He added that *Our trajectory is clear: from macro-economic correction to national transformation.
Speaking earlier at the event, the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite underscored the importance of stakeholder engagement in delivering reform dividends: “This platform enables citizens and the private sector to hold us accountable while shaping a more responsive and transparent economy”, she said.
She assured of the Ministry’s dedication to delivering on its mandate through effective policy implementation and stakeholder engagement with a view to driving economic growth and development that is equitable and sustainable.
Mr. Raymond Omenka Omachi, Permanent Secretary Special Duties, Federal Ministry of Finance, added that institutional collaboration and disciplined execution remain critical to sustaining reform momentum: *We are working across ministries and agencies to ensure that reforms are not just announced, but effectively implemented with measurable impact*, he stated
Impressive presentations were made by the Ministry of Finance Incorporated (MoFI) and Nigerian Consumer Credit Corporation (Creditcorp) as the agencies explained their mandates and achievements in learning than two years.
The event drew participation from industry leaders, civil society organisations, and development partners. The second quarter 2025 Citizens and Stakeholders’ Engagement Session marked a significant step towards achieving the Federal Government’s economic objectives.
The quarterly engagement is designed to foster transparency, accountability, and inclusive growth, providing a platform for stakeholders to engage with the Ministry on its progress and challenges.
Cover Photo Caption, L-R: The Honourable Minister of State for Finance Dr Doris Uzoka-Anite,CFA; The Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale, OFR; Mr Raymond Omenka Omachi, Permanent Secretary Special Duties, Federal Ministry of Finance and
Mrs Sayande Okoli, Special Adviser to the President on Finance and Economy in a group photograph shortly after the Second quarter of the 2025 Stakeholders and Citizens Engagement Session held today at the Federal Ministry of Finance Headquarters, Abuja
