Nigeria calls for Global Financial Reforms to Boost Economic Growth

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The Federal Government has urged the international community to rebalance global financial systems to better capture the economic realities and development needs of countries like Nigeria and other emerging economies. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the call at the 4th International Conference on Financing for Development (FFD4) in Sevilla, Spain.

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According to Edun, “In today’s evolving global landscape, self-reliance is essential. We are prioritising digital infrastructure, transparency, and institutional reform to deliver more for Nigerians with every naira spent.” He highlighted Nigeria’s comprehensive fiscal reforms aimed at modernising tax administration, promoting fiscal discipline, and creating an enabling environment for private sector investment.

Edun also emphasized the need for fairer tax practices and more decisive action against illicit financial flows, which have long disadvantaged African economies. “Addressing these challenges requires coordinated global efforts that recognise the unique contexts and constraints faced by developing countries,” he said.

The conference brought together senior representatives from multilateral organisations, including the United Nations, OECD, and European Union, as well as finance ministers and senior officials from other nations. Edun reinforced Nigeria’s commitment to domestic policy measures that can boost revenue generation and improve economic resilience, while calling for deeper international collaboration to remove systemic barriers that limit progress in the Global South.

“We are prioritising digital infrastructure, transparency, and institutional reform to deliver more for Nigerians with every naira spent,” Edun reiterated, highlighting the importance of international cooperation in achieving sustainable development goals.

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