ABUJA — Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has said that the nation’s economy is witnessing a progressive growth.

Edun said that the Nigerian Gross Domestic Product, GDP, grew by 4.23 per cent in the 2Q of 2025, noting that it was the highest quarterly figure in a decade aside the post covid era.

This came as President Bola Tinubu swore-in two Ministers from Enugu and Plateau states.

The two ministers who took the oath of office at the Council Chamber, Presidential Villa, Abuja, are Dr. Kingsley Udeh, SAN, from Enugu State and Dr. Bernard Doro from Plateau State.

The Senate had earlier in the day confirmed Udeh, as a Minister of the Federal Republic of Nigeria.

Udeh, who until his nomination was the Attorney General and Commissioner for Justice in Enugu state, replaced Chief Uche Nnaji, the immediate past Minister of Innovation, Science and Technology, who resigned his appointment over the alleged forged certificate, while Doro replaced Prof. Nentawe Yilwatda, the current national Chairman of the All Progressives Congress, APC.

The brief exercise was preceded by the Federal Executive Council, FEC, meeting presided over by President Tinubu.

Responding to the presentation made by the Minister of Finance and Coordinating Minister of the economy over the steady growth of the economy, President Tinubu said: “The most important thing is the fact that despite the political headwind and the fear of our people, we will continue to engage with our partners. The success of the 2.3 billion bond over subscribed is the most at this stage.

“The task ahead is immense but we are resolved to move forward with unity and purpose, guided by renewed hope, agenda to build a prosperous, inclusive and resilient Nigeria.”

Tinubu said the Eurobond’s oversubscription, despite political anxieties, underlined global faith in Nigeria’s fundamentals.

“Despite the political headwinds and fears, our partners have continued to engage with confidence,” he said.

Tinubu’s remarks came after an economic briefing by Mr. Edun, who reported that the administration’s reform agenda continues to stimulate investor confidence and deliver notable economic gains.

Edun, who expressed gratitude to the President and cabinet members for their support during his recent illness, said the ongoing reforms, though challenging, are driven by a clear objective to build a competitive economy that creates jobs and lifts millions out of poverty.

According to him, Nigeria’s GDP grew by 4.23 percent in Q2 2025, the strongest expansion in a decade outside the post-COVID-19 rebound.

He said 13 sectors expanded by more than 7 percent, up from nine in the previous quarter, evidence of broad-based resilience.

The industrial sector, Edun added, nearly doubled its growth from 3.72 percent to 7.45 percent, reflecting rising productivity and renewed investor interest.

He reported that inflation declined to 18 percent last December, while foreign reserves exceeded $43 billion and the trade surplus climbed to N7.4 trillion, signalling strengthened external buffers.

Edun noted that new consumer-spending data showed Nigerians now spend about half of their income on basic needs, compared with nearly 90 percent previously, indicating a gradual transition from subsistence to improved living standards and enhanced productivity.

He described Nigeria’s recent removal from the Financial Action Task Force, FATF, grey list as a major confidence boost for the financial sector, noting that global institutions, including the IMF and World Bank, had acknowledged the country’s reform momentum through upgraded growth projections and improved credit ratings.