{"id":294288,"date":"2026-01-20T17:26:08","date_gmt":"2026-01-20T17:26:08","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/294288\/"},"modified":"2026-01-20T17:26:08","modified_gmt":"2026-01-20T17:26:08","slug":"fg-aims-for-less-borrowing-more-investment-wale-edun-channels-television","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/294288\/","title":{"rendered":"FG Aims For Less Borrowing, More Investment \u2014 Wale Edun \u2022 Channels Television"},"content":{"rendered":"

\u00a0<\/p>\n

The Federal Government has said it plans to invest more in the economy, rely more on domestic resources, and reduce its dependence on borrowing.<\/strong><\/p>\n

Minister of Finance Wale Edun said this while speaking on Bloomberg Television at the ongoing 56th World Economic Forum in Davos, Switzerland, on Tuesday.<\/p>\n

\u201cThe issue now is to focus on revenue, focus on domestic resource mobilization,\u201d he said. \u201cWe\u2019re hoping to rely less on borrowing,\u201d he added.<\/p>\n

The minister\u2019s remarks come as Nigeria implements fiscal reforms aimed at strengthening its economy.<\/p>\n

Edun emphasised the need to focus on revenue generation.<\/p>\n

The Minister added that while the country could access international bond markets, if necessary, the government\u2019s priority is to mobilise its own resources.<\/p>\n

He outlined the government\u2019s efforts to raise tax revenue and strengthen fiscal sustainability amid mounting global economic pressures.<\/p>\n

Edun also highlighted strategies aimed at reducing borrowing while expanding revenue generation.<\/p>\n

READ ALSO<\/strong>: FG Opens Applications For PTDF-Funded 2026 Overseas Scholarships<\/a><\/p>\n

The minister also noted that Nigeria remains open to international capital markets if needed, but domestic reforms are central to the government\u2019s fiscal policy.<\/p>\n

Since taking office in 2023, President Bola Tinubu\u2019s administration has introduced several economic reforms to drive growth and stabilise public finances.<\/p>\n

These measures include removing currency restrictions, ending a costly fuel subsidy, and overhauling the nation\u2019s tax framework.<\/p>\n

Other measures introduced by FG include the tax reforms, which aim to raise revenue to 18% of GDP next year, up from roughly 14% currently.<\/p>\n

The Minister also noted that the FG\u2019s policies target long-term economic sustainability while reducing reliance on external debt.<\/p>\n

These initiatives, he emphasised, are part of broader efforts to modernize Nigeria\u2019s economy and strengthen investor confidence.<\/p>\n

Economic forecasts indicate Nigeria\u2019s reforms are showing early signs of progress. The International Monetary Fund upgraded Nigeria\u2019s growth forecast to 4.4% for 2026, up from an estimated 4.2% in 2025.<\/p>\n

IMF\u2019s projections come despite weaker oil prices, Nigeria\u2019s top export and major foreign-exchange earner.<\/p>\n

It also noted that government reforms are expected to further stabilize revenue collection and support fiscal sustainability.<\/p>\n

\u201cThe combination of domestic resource mobilisation and ongoing reforms underscores Nigeria\u2019s effort to reduce debt dependence and strengthen its economic foundations,\u201d the IMF had said.<\/p>\n

Edun will use the Davos meeting to address investor concerns around policy consistency, inflation, foreign exchange stability, and fiscal sustainability.<\/p>\n

Nigeria\u2019s message at WEF 2026 is shaped by wider global realities affecting emerging markets.<\/p>\n

The Federal Government will also debut its first-ever official national pavilion, Nigeria House Davos, at the Forum.<\/p>\n","protected":false},"excerpt":{"rendered":"\u00a0 The Federal Government has said it plans to invest more in the economy, rely more on domestic…\n","protected":false},"author":2,"featured_media":294289,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[79,140613,179,18,19,17,3713,146390,146100],"class_list":{"0":"post-294288","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-davos","10":"tag-economy","11":"tag-eire","12":"tag-ie","13":"tag-ireland","14":"tag-nigeria","15":"tag-wale-edun","16":"tag-wef"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115928601995759084","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/294288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=294288"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/294288\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/294289"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=294288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=294288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=294288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}