Nigeria is positioning itself to engage the global economy through strategic, mutually beneficial partnerships, even as rising protectionism and tariffs from the United States and other nations raise concerns, Finance Minister and Coordinating Minister of the Economy Wale Edun said at the World Economic Forum annual meeting in Davos, Switzerland.
Speaking to Bloomberg TV, Edun emphasised that Nigeria is approaching the shifting global trade landscape with pragmatism. “We try to be positive and look at it that as a country that has resources, that has critical minerals, maybe we’ll be asked to do a transaction that will be mutually beneficial. That’s the way we look at it,” he said. He also warned that growing protectionism and a retreat from multilateralism could limit trade, investment and economic growth for emerging markets such as Nigeria.
Highlighting the government’s economic strategy, Edun said the Tinubu administration is reducing reliance on debt and prioritising investment-led growth. “The commitment of President Bola Ahmed Tinubu under his renewed hope agenda… is to consolidate and in fact to rely less on debt and to try and drive investment,” he said. Nigeria’s presence at Davos is part of an effort to reposition the country as an attractive investment destination, showcasing macroeconomic stability and reform progress.
However, the government has the option of issuing Eurobonds, Edun noted that borrowing will depend on market conditions and timing, stressing that investment mobilization remains the priority. He also acknowledged Nigeria’s high debt-to-revenue ratio, saying that revenue mobilisation through tax reforms and technology-driven efficiency is central to addressing fiscal challenges. The administration aims to raise the tax-to-GDP ratio from the current 13 per cent to around 18 per cent in the near future.
The Economic indicators suggest that Nigeria’s reforms are showing early results. The International Monetary Fund recently upgraded Nigeria’s growth forecast to 4.4 per cent for 2026, up from 4.2 per cent in 2025, reflecting improving revenue stability and a more sustainable fiscal outlook.
Edun’s remarks signal Nigeria’s focus on pragmatism, investment-led growth, and engagement with the global economy as tools to navigate rising international trade tensions while strengthening domestic economic resilience.
