banner books
 
<< Back             Poser >>
Nigeria exits EU high-risk list, boosts investor confidence – Edun
*Says affordable food, jobs now focus of reforms
*Reforms eliminated distortions, level playing field for investors
*Defends ₦152trn debt, cites transparency reforms
By Babajide Komolafe
Nigeria’s exit from the European Union’s high-risk third-country list is a major boost for investor confidence, the Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun, has said, as the government moves to prioritise affordable food, housing, and job creation in the next phase of reforms.
Speaking in Lagos yesterday at the NESG 2026 Macroeconomic Outlook Presentation, Edinburgh said: “Exiting the EU high-risk list is a landmark achievement for Nigeria,” Edun told the NESG 2026 Macroeconomic Outlook Presentation. “It sends a clear signal to investors that Nigeria is serious about maintaining a stable, credible, and transparent business environment.”
On the government’s reform priorities, Edun said, “Our focus now is on ensuring that ordinary Nigerians feel the benefits of reform — through more affordable food, access to housing, and productive jobs.”
He explained that these reforms were built on measures that eliminated distortions that had previously skewed the economy. “For too long, access to foreign exchange and subsidised petroleum products created an uneven playing field,” he said. “Those distortions are gone. Today, investors operate in a transparent environment where success is driven by productivity and innovation, not rent-seeking.”
Edun also defended the ₦152 trillion public debt, stressing that recent adjustments reflected transparency reforms rather than new borrowing. “About ₦30 trillion previously off the books has now been fully recognised,” he said. “Dollar-denominated debt movements and exchange rate adjustments account for the remainder. These are not fresh borrowings; they are steps to improve fiscal accountability and transparency.”
Highlighting fiscal and structural reforms, Edun said, “We have digitised revenue collection, deployed real-time treasury monitoring, and strengthened state-level financial positions. Many states now run budget surpluses exceeding three per cent, enabling expanded spending on health, education, and social services.”
He said housing and food security were central to the government’s agenda. “Mortgages are now being issued at less than ten per cent interest,” Edun said. “We are also supporting farmers to boost productivity, reduce costs, and ensure that food is more affordable for all Nigerians.”
Edun stressed the importance of youth and digital inclusion. “Half of Nigeria’s population is under 19 years old. We are investing in digital infrastructure, including 90,000 kilometres of fibre-optic networks, to empower young Nigerians to earn, innovate, and participate in global markets,” he said.
He concluded, “2026 is a pivotal year. The challenge now is to consolidate our gains, maintain policy consistency, and ensure that stability translates into inclusive growth, jobs, and shared prosperity. Nigeria must not only stabilise, it must thrive.”
Vanguard Business News
Nigeria loses $77.7bn to illicit financial flows in 10 years — Report
By Yinka Kolawole A new report by Global Financial Integrity (GFI), a United States-based think tank, has revealed that Nigeria lost a total of $77.7 billion to trade-related illicit financial flows (IFFs) over a period of 10 years, between 2013 and 2022. IFFs refer to cross-border movements of money or value that are illegally earned, transferred, or […]
Ghana records significant declines in oil liftings and petroleum revenue
Ghana recorded a significant decline in its petroleum receipts for the second half of 2025, with total revenue dropping by approximately $117.38 million compared to the same period in 2024.
Taxes, fuel hike slow business growth in January – NESG report
As Business Confidence drops to 6-month low By Babajide Komolafe Rising taxes and fuel price adjustments slowed the pace of business growth in Nigeria in January 2026, pushing business confidence to a six-month low, according to the latest Business Confidence Monitor (BCM) report released by the Nigerian Economic Summit Group (NESG). The report showed that the Current […]
Businesses buckle under debt as defaults push bad loans to N21.2trn
High interest rates, FX shocks, end of COVID forbearance trigger spike in corporate loan failures By Babajide Komolafe, Economy Editor At the backdrop of economic pressures on households and businesses, banks are now struggling with a rising loan defaults by businesses,  leading to a significant increase in bad loans portfolio of banks to N21.2 trillion. Financial Vanguard’s […]
Dangote, NNPC seal strategic gas agreements
By Udeme Akpan Towards meeting the energy demands of their ongoing expansion projects, three subsidiaries of Dangote Industries Limited, Dangote Petroleum Refinery, Dangote Fertiliser Plant and Dangote Cement Plc have scaled up their Gas Sales and Purchase Agreements (GSPA) with subsidiaries of the Nigerian National Petroleum Company Limited (NNPC Ltd): Nigerian Gas Marketing Limited and NNPC […]
Stock market gains N6.7trn in January amid oil price surge 
By Peter Egwuatu  The Nigerian stock market, last weekend, closed the first month of the year, 2026, with over N6.7 trillion capital gains, just as oil prices witnessed a surge last week to about  $71.01 per barrel. Analysts noted that the surge in crude price last week, if sustained, would be favourable to Nigeria, adding that […]