Hope On The Horizon: Wale Edun Says Nigeria’s Economy Is Bouncing Back with Food And Fuel Price Drops

Edun made this statement on Tuesday during a courtesy visit to First Lady Oluremi Tinubu. He, along with his team, informed Mrs. Tinubu about the upcoming 32nd Annual General Meeting of the African Export-Import Bank (AFREXIM Bank), scheduled to take place from June 23 to 27 this year.

Mrs. Tinubu expressed her eagerness to host the spouses of Heads of Governments from African nations and other countries attending the event, emphasizing that it would be an excellent opportunity to showcase the best of Nigeria.

“This is a blessing for us in this administration, with the caliber of people leading the country’s affairs,” she remarked. “I thank the Minister for bringing the forthcoming AGM meeting of AFREXIM Bank to our attention. As the wife of the President, my role is to be the Chief Hostess and ensure everything is taken care of.”

In his address, Edun reiterated the government’s commitment to stabilizing the country’s economy, with a focus on enhancing the competitiveness of Nigeria’s manufacturing and export sectors on the global stage.

He highlighted Nigeria’s strong partnership with AFREXIM Bank, emphasizing the bank’s role in fostering trade and economic growth across Africa and beyond.

Edun noted, “Under President Bola Tinubu’s leadership, significant reforms have taken place within AFREXIM Bank over the last 20 months. We are now seeing positive economic changes, such as stabilizing inflation, falling food prices, and a reduction in petroleum prices.”

While acknowledging that inflation remains relatively high, Edun emphasized the government’s focus on reducing the cost of living and supporting indigenous manufacturers to compete globally. He concluded by stating that policies would continue to stabilize inflation and provide a favorable environment for local manufacturers.