The Federal Government’s economic reforms are creating more opportunities for private-sector growth across Nigeria, according to Wale Edun, Minister of Finance and Coordinating Minister of the Economy. Edun spoke at the Imo State Economic Summit 2025, where he praised Governor Hope Uzodimma for infrastructure improvements such as road upgrades and plans for continuous electricity supply. He said these developments are positioning Imo State as an attractive destination for investment.
Edun noted that recent changes in federal power policy now allow states and private partners to generate and distribute electricity. This shift is expected to reduce barriers for industrial and technology businesses operating in the state.
He identified sectors such as light manufacturing, agro-processing, pharmaceuticals, packaging, and building materials as areas with significant potential due to Imo’s access to major regional markets.
On a national level, Edun reported that Nigeria’s economy is growing at about 4 percent—twice its previous rate—with industry and agriculture leading this expansion. He explained that fiscal reforms have resulted in doubled allocations to states, which has expanded local markets and created more space for private investment. Edun also mentioned that inflation is declining, which is increasing household purchasing power and boosting consumer demand.
Edun reaffirmed the government’s focus on inclusive growth through targeted social support programs. He announced a forthcoming national mass savings plan designed to mobilize investment from both citizens and businesses.
“Nigeria is shifting from latent potential to rising opportunity,” Edun said. “We call for stronger partnerships because Federal, State and private-sector actors [need] to accelerate sustainable growth.”
As Nigeria continues its economic expansion led by industry and agriculture, the government remains committed to supporting a business-friendly environment. With infrastructure upgrades underway in Imo State alongside favorable policies, officials say the state could become a regional hub for economic activity. The Federal Government encourages investors to explore opportunities both in Imo State and nationwide as part of efforts toward building greater prosperity.