Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says technology is playing a pivotal role in the Federal Government’s economic reform agenda designed to stabilise the economy, boost investor confidence, and drive inclusive growth.
Speaking at the 31st Nigerian Economic Summit in Abuja, Edun said Nigeria stands at a defining moment where digital transformation is shaping the nation’s economic future. He noted that progress driven by improved data systems, automation, and digital financial tools is enhancing transparency, stabilising the naira, and strengthening fiscal management.
According to him, the government’s core reform priorities — fiscal policy overhaul, inflation control, and private sector mobilisation — are being powered by digital innovation. Edun outlined four strategic priorities to sustain reform momentum:
“Reforming fiscal policy, raising Nigeria’s tax-to-GDP ratio through automation and technology, curbing inflation, and unlocking private sector investment.”
With Nigeria’s tax revenue currently at about 13% of GDP, significantly below the 50–60% recorded in peer economies, the Minister stressed the urgency of leveraging digital systems to improve revenue collection and finance critical infrastructure and social programmes.
Edun further revealed that technology is also driving social investment programmes, noting that the Direct Benefit Transfer (DBT) Scheme has reached over eight million Nigerians and is targeting 15 million households by year-end.
“Every beneficiary is biometrically identified and digitally paid, ensuring transparency and impact,” he said.
Beyond public finance, the Minister said ongoing reforms are fostering a more competitive environment for technology-enabled investments across sectors such as energy, agriculture, transport, and broadband infrastructure.
“Nigeria’s demographic advantage means our youth will form a major part of the global workforce by 2050,” Edun said. “Our task is to equip them to seize that opportunity.”
He reaffirmed that President Bola Ahmed Tinubu’s administration remains committed to harnessing technology to deliver fiscal stability, attract innovation-driven investment, and ensure broad-based prosperity for Nigerians.
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