Nigeria’s economy surged by 4.23% in Q2 2025, marking its fastest growth in ten years outside the post-COVID rebound.Finance Minister Wale Edun credits bold reforms for boosting productivity and investor confidence.Foreign reserves topped $43 billion, inflation eased to 18%, and trade surplus reached $4.9 billion.Global institutions, such as the IMF and World Bank, have upgraded Nigeria’s outlook, signaling renewed global trust in Africa’s largest.
Speaking in Abuja on Thursday, October 6, Edun said the figures reflect the success of the government’s structural reforms, which aim to build a more competitive, job-creating, and inclusive economy.“These reforms, though challenging, are guided by a clear objective: to create a competitive economy that lifts millions out of poverty,” he stated.According to Edun, thirteen key sectors, including manufacturing and technology, expanded by over 7%, up from nine industries in the previous quarter.The industrial sector nearly doubled its growth from 3.72% to 7.45%, reflecting renewed investor interest and rising productivity,” he added.
Inflation fell to 18% in December 2024, while Nigeria’s foreign reserves rose above $43 billion, and trade surplus climbed to $4.9 billion (₦7.4 trillion), strengthening the nation’s external buffers.Edun also highlighted improved consumer welfare, noting that “Nigerians now spend about half of their income on basic needs, compared with nearly 90% previously,” a sign of growing disposable income and stability.The minister described Nigeria’s removal from the Financial Action Task Force (FATF) grey list as a “confidence boost” for the financial system.He added that international institutions such as the IMF and World Bank had recognised Nigeria’s reform momentum through upgraded growth forecasts and improved credit ratings, a signal, he said, that “Nigeria is back on the global investment radar.
