The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reiterated the federal government’s resolve to sustain ongoing economic reforms and promote inclusive financing as key levers for driving growth beyond four percent.

Chairman of the Committee of Bank CEOs and Group Managing Director of United Bank for Africa Plc, Oliver Alawuba, praised the synergy between the Central Bank of Nigeria and the Finance Ministry, noting that their coordinated policies have eased pressure on the foreign exchange market and renewed investor confidence.

Edun, alongside the Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, also reaffirmed the government’s commitment to tackling structural inefficiencies, multiple levies, and regulatory hurdles that continue to hinder business competitiveness and investment flow.

Speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria in Lagos, Edun commended the CBN’s monetary discipline, describing its policy stance as vital for curbing inflation and preserving financial system stability.

He added that while the reform agenda launched on May 29, 2023, has yielded tangible progress, the next phase must focus on inclusive growth through broader credit access for young entrepreneurs and small businesses.

“Monetary policy under Cardoso (CBN governor) has stabilised the financial system in a most commendable way. We recognise and thank his efforts. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side, but the fight against inflation is one that we all have to participate in; so, we understand those tight monetary policies,” Edun said.

He stressed that economic growth must deliver tangible opportunities for Nigeria’s youthful population, noting that more than 400,000 graduates join the labour market every year.

“We now have what I would say is our President’s agenda, rapid growth accelerating above 4 per cent, well above 4 per cent, and we look forward to continuing. We have sustained efforts on reforms since May 29, 2023. We have stayed the course, but we need inclusivity. That inclusivity means good-paying jobs for our young people,” he said.

The minister further urged the financial sector to take a more proactive role in driving inclusive and grassroots economic growth.

“The finance and banking industry, we have more work to do because we must finance their ideas, we must deepen the capital markets and banking credit markets down to small SMEs. They should not have to go to Silicon Valley,” Edun noted.

Also speaking, the Chairman of the Committee of Bank CEOs and Group Managing Director/Chief Executive Officer of UBA Plc, Oliver Alawuba, commended the coordinated actions of the CBN and the Ministry of Finance, noting that their recent policy measures have helped ease pressure on the foreign exchange market and restore investor confidence.

“We also thank the Minister of Finance and Coordinating Minister of the Economy, and indeed the Governor of Governors, the CBN governor. We have seen the difference. Thank you for the way you have rescued Nigerians,” Alawuba said.

He noted that the economy has made significant progress over the past year, with marked improvements in the foreign exchange market.

“Today, things are better on the economy side than they were a year ago. As a banker a year ago, if you met a customer, he would ask, ‘Do you have dollars for me?’ Today, if you meet a customer, you would ask him, ‘Do you have any need for dollars at all?’ Thanks to the efforts of the minister, the Central Bank, and the coordinated economic team,” he said.

Alawuba also charged the newly inducted CIBN Fellows and Senior Members to uphold professionalism and integrity by pursuing three key objectives — bridging the digital divide, strengthening public trust, and fostering collaboration across the banking industry.

At the event, the CBN’s Deputy Governors for Corporate Services and Operations, Ms. Emem Usoro and Dr. Bala Bello, were conferred with the Institute’s Distinguished Honorary Fellowship, while the CBN’s Director of Strategy and Innovation Management, Monsurat Modesola Vincent, was inducted as an Honorary Senior Member.