Business
Ministerial Briefing: Wale Edun Rolls Out State of Economy Year In Review, Says Economy Sector is growing
Joel Ajayi
The Honourable Minister of Finance and Co-ordinating Minister of the Economy, Mr Wale Edun, has stated that
the heart of President Bola Ahmed Tinubu’s eight point agenda falls squarely within the purview of his Ministry on which he says lies the imperative for effective economic management and strategic coordination.
The Minister disclosed this today at Radio House, Abuja during the Sectoral Briefing on the achievements of his Ministry in celebration of the one year anniversary of the President Bola Ahmed Tinubu-led Administration.
He informed
that within the first year of the present administration, the financial processes of the country has improved significantly with an ncrease in Government revenues substantially and sustainably.
The Minister, who rolled out the state of the Economy for the year in review
informed further
that expenditure processes have been tightened through automation. From economic revitalization to social development, from infrastructure enhancement to good governance. This administration’s bold reform measures reflect a commitment to building a more prosperous, equitable and resilient Nigeria, he said
Edun explained that the President Bola Ahmed Tinubu-led Administration within the year under review was able to boost oil revenues through increased oil production of 1.65mbd as at January 2024.
He assured that the country’s economy is growing with a Gross Domestic Product (GDP) growth rate of 2.98 per cent in the first quarter of 2024, which is higher than the population growth rate of 2.4 per cent and last year’s growth rate of 2.31 per cent.
The economy is growing at 2.98 per cent for the first quarter of this year, which is higher than the population of 2.4 per cent. It is higher than last year’s 2.31 per cent. So, on balance, we can say that the President’s policy strategies and his programmes have turned the country in the right direction, upwards, growing he said.
The Minister maintained that the Ministry, under his stewardship will continue to ensure the full implementation of the reform policies and programmes of the government in order to restore stability to the economy, in line with the Renewed Hope Agenda of the present administration.
Edun noted that the reforms have led to an increase in revenue, enabling the government to pay its debts and invest in infrastructure.
The Minister
explained that the government has also implemented social investment programmes to protect the poor and vulnerable, with direct payments of N75,000 to 15m households.
Additionally, he said, efforts are being made to improve food security, with 200bn Naira allocated to intervention programmes.
Edun added further that access to credit has also been improved, with N100bn allocated to consumer credit and grants of N50,000 being given to one million nano industries.
He informed further that government has implemented a system of payment to ensure that Nigeria’s money is spent wisely and accountably.
The Minister who emphasised the importance of infrastructure in growing the economy and creating jobs, added that the fund has been set up to provide institutional long-term funds to support housing construction and low-interest mortgages for the average Nigerian.
The government’s efforts have led to an improvement in Nigeria’s international credit rating, with Moody’s and Fitch increasing and improving Nigeria’s rates to positivity
The Minister who was accompanied to the event by the Permanent Secretary, Federal Ministry of Finance, Mrs Lydia Shehu Jafiya, the Permanent Secretary, Special Duties, Mr. Okokon Ekenam Udo, Heads of Agencies under his supervision as well as Directors of the Ministry, expressed optimism that continuing on this path will lead to a growing economy and improved living standards for all Nigerians.
We have room to feel that continuing on these paths, redoubling our efforts, following Mr President’s agenda at the state and federal level, will lead us to a growing economy that takes us out of poverty and produces a better life for all Nigerians Edun emphasized.
In his closing remarks, the Honourable Minister of Information and National Orientation, Mohammed Idris, urged journalists to ensure they provide wider publicity for the Briefing through patriotic and positive reportage for the benefit of the country.
He assured that the President Bola Ahmed Tinubu-led Administration is determined to improve the lives of its citizens through deliberate strategic initiatives, programmes and projects that have direct impact on their lives.
Business
FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools
By Joel Ajayi
The Federal Government, in collaboration with Investonaire Academy, has unveiled a nationwide financial literacy and wealth-building programme targeting more than 100,000 young Nigerians. The initiative is designed to equip participants with practical skills in budgeting, saving, investing, asset building, and long-term financial planning, positioning them for sustainable prosperity in a rapidly evolving economy.
Launched on Tuesday in Abuja, the Honourable Minister of Youth Development, Comrade Ayodele Olawande, described financial literacy as a necessary survival tool for young people confronting today’s economic realities.
He noted that the initiative represents the foundation of a broader vision expected to extend beyond Nigeria to other African nations and global markets.
Reaffirming the Federal Government’s commitment to supporting over 4,000 corps members annually, the Minister said the programme will provide platforms, resources, and skills needed for both job creation and employability.
“The young people who understand money — how to save, invest, build assets, and manage risk — are the ones who will lead Nigeria into prosperity,” he said.
A major highlight of the launch was the expansion of the Nigeria Youth Academy, a digital platform offering mentorship, training, and startup support. According to the Minister, more than 200 startups will receive empowerment through the Academy’s e-app platform before the end of the year.
He stressed the need for deeper collaboration with private organisations, innovators, and youth-focused groups, noting that government alone cannot drive youth development. He further encouraged young Nigerians to embrace skills acquisition, innovation, and digital enterprise, saying these remain critical to reducing the desire for migration and increasing self-reliance.
Outlining the Ministry’s long-term commitments, Olawande emphasized three priorities: supporting youth innovation, equipping them with growth tools, and safeguarding millions of Nigerian youths under the Ministry’s mandate.
Speaking at the launch, Sebastien Sicre, Chief Operating Officer of Investonaire Academy, said the programme was crafted to revolutionize the way Nigerian youths learn and apply financial knowledge. He highlighted the Academy’s gamified Learning Management System (LMS), which offers interactive learning tools, community forums, and real-time mentorship to make financial education engaging and accessible.
Complementing the digital platform is a new 200-square-metre physical training centre in Abuja, opposite the NNPC Towers, where in-person workshops and mentorship sessions will take place.
The curriculum covers key global asset classes — including equities, commodities, forex, and indices — ensuring participants gain a broad understanding of financial markets.
Sicre added that with Federal Government backing, the programme seeks to unlock new opportunities, strengthen youth participation in the digital economy, and reward outstanding participants through a $1 million funding pool to support new and existing ventures.
International Programme Director of Investonaire Academy, Dr. Enefola Odiba, explained that the initiative aims to bridge long-standing gaps in financial education among Nigerian youths. While schools teach many subjects, he said, essential financial skills are often missing.
“Many people can earn money — earning money can be easy. The real challenge is retaining, managing, and growing that money,” he noted.
Referencing the Central Bank of Nigeria’s definition of financial literacy, Odiba stated that implementation remains a major national challenge. He said the initiative brings together government agencies, youth groups, academic institutions, and private-sector partners to translate strategy into measurable impact.
The programme’s curriculum covers budgeting, saving, investing, and financial planning — areas where many young people struggle. By offering practical training, real-world insights, and guided mentorship, the initiative aims to build a generation of financially empowered youth capable of driving innovation, entrepreneurship, and sustainable economic growth.
With this partnership, the Federal Government and Investonaire Academy share a common goal: to empower young Nigerians with the financial intelligence and digital tools needed to build wealth, grow businesses, and transform the nation’s economic future.
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