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HomeBusinessNigeria working toward removing impediments on forex rate, cut inflation, says Edun

Nigeria working toward removing impediments on forex rate, cut inflation, says Edun

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The minister of finance and coordinating minister of the economy, Wale Edun has assured investors that the government is working to expunge macroeconomic impediments to the stability of the exchange rate and inflation in the country.

Speaking on the sidelines of the Group 20 (G20) summit in India on Sunday, Edun expressed Nigeria’s perspective and commitment to building a stronger, more sustainable, and more resilient economy.

The minister’s address during the Nigeria-India presidential roundtable was captured in a short clip posted by the finance ministry on X—formerly Twitter.

Edun said the government has taken steps to improve the business environment, including removing foreign exchange restrictions and streamlining the investment approval process.

He urged investors to take advantage of the opportunities that Nigeria has to offer.

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“Our focus is on attracting global capital and promoting foreign direct investments, and this underscores our commitment to job creation, economic diversification, and revenue expansion,” Edun said.

“Nigeria is an attractive destination for business. It is brimming with opportunities across the various sectors.

“The major macroeconomic impediments to the stability of the exchange rate, of inflation, of interest rates, and indeed of obstacles to liquidity and to enough financing are now in the process of being removed.

“Driving inclusivity, including women and young people in what is going on in the economy and having them play their role

“For those interested in investing, the playing field has been leveled; it has been cleared of debris, and the opportunity is now there for you to seize.”

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