By Barth Ikiebe

In a resounding endorsement of Nigeria’s bold economic transformation, a high-powered delegation from Standard Chartered Bank has commended the country’s sweeping reforms, paving the way for a new era of investment and growth.

During a meeting with the Finance and Coordinating Minister of the Economy, Mr Wale Edun, in Abuja, the delegation praised Nigeria’s economic reforms, describing them as “extraordinary”, highlighting key measures such as the removal of fuel subsidies and market liberalization.

Investor confidence in Nigeria’s debt market featured prominently in discussions, with participants noting renewed appetite for both Eurobonds and local debt instruments.

Mr Edun highlighted the country’s improving fiscal health, citing a significant reduction in the budget deficit and ongoing efforts to stabilise the economy, control inflation, and lower interest rates.

Nigeria’s economy, he noted, is growing at 3.84%, with a target of 7% needed for substantial poverty reduction and job creation.

The delegation also praised President Bola Tinubu’s engagement with international financial institutions and development agencies, noting that Nigeria’s proactive approach to economic partnerships is fostering a more stable and investment-friendly environment.