Atiku Bagudu, the minister of budget and economic planning, says Nigeria’s inflation rate is projected to ease to 15.75 percent in 2025 and 14.21 percent in 2026, highlighting the country’s promising economic prospects.

Bagudu spoke on Monday at the 31st Nigerian Economic Summit (NES) of the Nigerian Economic Summit Group (NESG) held in Abuja.

“Inflation will further moderate to 10.04 percent in 2027, contingent upon a consistent monetary policy focused on price stability and complementary fiscal consolidation,” he said.

“Our policy direction will also continue to implement a market-driven exchange rate regime and fiscal sustainability, and also address the underlying structural challenges.”

The minister explained that the economic reforms and policy initiatives being implemented by the federal government were designed to address structural weaknesses, enhance productivity, and position Nigeria for long-term prosperity.

He reaffirmed the administration’s unwavering commitment to fostering sustainable, inclusive economic growth, enhancing macroeconomic predictability, and improving the welfare of all Nigerians.

“While we recognise the short-term hardships on our people, we are confident that our policies will yield tangible benefits over time,” he said.

“The stabilisation of the exchange rate, declining inflationary pressures, and improvements in fiscal management are already setting the stage for a more resilient and diversified economy.

“Our focus remains on driving job creation, reducing poverty, increasing non-oil revenue, and improving our external financial position.

“We are taking development to the grass root via the Renewed Hope Ward Development Programme.”

The minister called on the private sector, development partners, and Nigerians to support the federal government’s economic transformation efforts.

He emphasised the need for collective commitment, innovation, and perseverance to build an inclusive and competitive economy.

Olaniyi Yusuf, chairman of NESG, also called for urgent and deliberate action to consolidate ongoing economic reforms and accelerate inclusive growth in Nigeria.