Wale Edun, minister of finance, says Nigeria’s financial markets remain stable after the US launched a fusillade of air strikes on Islamic State (ISIS) terrorists in Sokoto.
On December 25, communities in Sokoto and Kwara had reported
explosions at the same time the US air strikes.
In a statement on Sunday, the minister said domestic and
international debt markets are stable and functioning efficiently due to
prudent fiscal management.
“Our financial markets remain resilient. Domestic and
international debt markets are stable and functioning efficiently, supported by
prudent fiscal management,” he said.
Following recent enquiries about the targeted joint security
operation by Nigeria and the US conducted in Sokoto on Christmas Day, the
minister reassured investors, analysts, and multilateral partners “that Nigeria
is not at war with itself, nor with any nation”.
“What Nigeria is decisively confronting—alongside trusted
international partners—is terrorism. This distinction is important, and it is
fundamental to understanding the positive economic implications of recent
actions,” Edun said.
“The operation in question was precise, intelligence-led,
and focused exclusively on terrorist elements that threaten innocent lives,
national stability, and economic activity.”
He said the actions do not destabilise markets or erode
confidence but instead strengthen the foundations of peace, protect productive
communities, and reinforce the conditions required for sustainable growth.
“Security and economic stability are inseparable; every
effort to safeguard Nigerians is, by definition, pro-growth and
pro-investment,” Edun said.
“Under the leadership of President Bola Ahmed Tinubu, GCFR,
Nigeria has made tangible and measurable progress on both security and economic
reform. These gains are evident in our macroeconomic performance. In the third
quarter of 2025, Nigeria recorded GDP growth of 3.98%, following a strong 4.23%
growth in Q2.
“We expect a stronger Q4 2025 GDP performance. Inflation has
decelerated for the seventh consecutive period and is now below 15%, reflecting
improving price stability and the effectiveness of coordinated fiscal and
monetary actions.”
Over the past year, the minister said Nigeria has received
credit rating upgrades from Moody’s, Fitch, and Standard & Poor’s, which
are “clear, independent endorsements of the strength of our reforms and the
credibility of our economic direction”.
“We have maintained fiscal discipline, prioritised
efficiency, and protected macroeconomic stability—demonstrating resilience in
the face of external shocks,” he said.
“As President Bola Ahmed Tinubu noted in his address last
week, our overarching objective for 2026 is to consolidate the gains of 2025,
strengthen Nigeria’s economic resilience, and continue building a sustainable,
inclusive, and growth-oriented economy. The actions we take today—on security,
reforms, and fiscal discipline—are aligned with that goal.
“As markets reopen on Monday, 29 December 2025, investors
can be confident that Nigeria remains focused, reform-driven, and committed to
stability.”
Edun added that economic fundamentals are strengthening, the
policy direction is clear, and the present administration’s resolve — to
protect lives, secure prosperity, and grow the economy — remains unwavering.
The minister said Nigeria remains open for business,
anchored in peace, and firmly focused on the future.
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