The outgoing Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has expressed gratitude to President Bola Tinubu as he prepares to leave office on Thursday, highlighting that Nigeria’s economic growth improved from about 2% to over 4% during his tenure.
He also noted that inflation declined from 35% to 15%, attributing these changes to consistent policy implementation and increased investor confidence in the economy.
In a minor cabinet change on Tuesday, Edun’s position was given to the former Minister of State for Finance, Mr. Taiwo Oyedele, while the Minister of Housing and Urban Development, Arc. Ahmed Dangiwa is also to be replaced by Dr. Muttaqha Rabe Darma upon his confirmation by the Senate.
In a farewell statement, Edun reflected on his time in government, describing it as a period defined by urgent economic challenges and major reform efforts.
He noted that his public service journey under the Tinubu administration began as head of the Presidential Transition Committee, continued as Special Adviser on Monetary Policy, and later culminated in his appointment as Finance Minister.
He explained that when the administration assumed office in May 2023, Nigeria faced significant macroeconomic instability.
According to him, the government responded with coordinated reforms aimed at stabilising the economy, strengthening fiscal discipline, and laying the foundation for sustainable long-term growth.
Edun said these reforms were implemented through collaboration across federal and state institutions, as well as partnerships with the private sector.
He credited members of the Federal Executive Council, state governors, and development partners for contributing to what he described as a collective national effort.
Edun emphasised that economic reform is not a one-time achievement but a continuous process that requires sustained commitment.
He expressed pride in the progress made while acknowledging that further work is still needed to strengthen the country’s economic foundations.
He also thanked both local and international stakeholders for their support, describing their contributions as vital to ongoing reforms.
Edun expressed optimism about Nigeria’s future and wished his successor success in building on the progress achieved.
He reaffirmed his commitment to national development and pledged continued support for Nigeria’s economic transformation even after leaving office.
