Nigeria’s new Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has assured investors that the administration will maintain economic reform continuity, insisting that policy reversals will not define the country’s current economic direction.
Speaking on Thursday at the launch of the Nigerian Economic Summit Group Private Sector Outlook 2026 in Lagos, Oyedele said the government is moving from economic stabilisation to a phase focused on measurable growth, where reforms will be assessed by outcomes rather than intent.
His remarks came just 48 hours after he assumed office, following the exit of Wale Edun from the Federal Executive Council.
“We are not looking back,” Oyedele said, stressing that consistency in policy direction remains critical to investor confidence.
He warned that mixed signals or abrupt reversals could undermine progress, noting that “businesses need to know that today’s decisions will still hold tomorrow.”
While acknowledging early signs of macroeconomic stabilisation, including a more aligned exchange rate and improved revenue performance, the minister said these gains must now translate into tangible outcomes such as job creation, higher productivity and improved living standards.
Oyedele outlined four key priorities for attracting investment in the next phase: policy consistency, predictability across fiscal and regulatory frameworks, reduced cost of doing business, and improved access to capital.
On financing, he said the government is working to expand credit across the economy—from consumer lending to industrial financing—with support from institutions such as the Bank of Industry, in order to stimulate growth and increase private sector participation.
He added that Nigeria must pursue stronger real GDP per capita growth to meaningfully reduce poverty, arguing that modest growth rates would not be sufficient given the country’s population size.
Describing the current stage of reforms as decisive, Oyedele said success would depend on execution. “Reforms on their own do not create growth. We need investment at scale,” he said, adding that investors respond to stable and predictable environments rather than policy announcements.
On productivity, he said Nigeria must move beyond consumption-led growth and focus on improving output and competitiveness in key sectors including agriculture, manufacturing, energy and the digital economy.
He also called for deeper collaboration between government and the private sector, noting that sustainable economic growth cannot be delivered by public policy alone.
As Nigeria enters what he described as a consolidation phase, Oyedele said government would continue to deepen reforms, strengthen public financial management and improve coordination across all tiers of government.
He acknowledged risks such as reform fatigue, inflationary pressures linked to global uncertainty, and political tensions ahead of the election cycle, but maintained that these challenges were manageable with discipline and cooperation.
“Our task now is execution,” Oyedele said. “This phase demands focus, consistency and accountability. That is the direction we are pursuing.”
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