Nigeria is targeting seven per cent economic growth in 2027, Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said.
Oyedele disclosed this at the closing press briefing of the ongoing International Monetary Fund (IMF) and World Bank Group Annual Meetings in Bangkok, Thailand, where he reaffirmed the Federal Government’s commitment to sustaining economic reforms.
Accompanied by Central Bank of Nigeria Governor, Olayemi Cardoso, the minister said the government’s priorities include reducing inflation and borrowing costs, boosting investment and creating jobs.
He identified food prices, energy costs and logistics as key challenges that must be addressed to accelerate economic growth and reduce the cost of doing business.
Oyedele expressed optimism that sustained reforms, effective fiscal and monetary policies, and greater foreign exchange stability could help Nigeria achieve stronger growth than current projections suggest.
He added that reducing inflation to single digits could pave the way for lower interest rates, easing borrowing costs for businesses and individuals.
The minister, however, ruled out a return to fuel subsidies and multiple exchange rates, insisting that sustaining the reforms was essential to maintaining investor confidence and achieving long-term economic stability.
