Finance Minister Urges Investors To Back Reform-driven States

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has urged investors to channel capital into Nigerian states implementing business-friendly reforms, saying Delta State exemplifies how subnational governments can translate national economic reforms into investment opportunities.

Speaking at the Delta State Economic and Investment Summit in Asaba on Tuesday, Oyedele said the Federal Government had laid the foundation for sustainable economic growth through reforms aimed at restoring macroeconomic stability and strengthening public finances.

He said President Bola Tinubu’s administration had addressed long-standing structural challenges by unifying the foreign exchange market, removing the fuel subsidy, restoring monetary discipline and implementing tax reforms designed to broaden the tax base while easing the burden on businesses, particularly small enterprises.

“The Federal Government has laid the foundation for sustainable economic growth through bold reforms that have restored macroeconomic stability and strengthened fiscal resilience,” Oyedele said.

According to the minister, the reforms have increased government revenues, enabling states and local governments to meet key obligations, invest in infrastructure and human capital, and promote inclusive development.

He said while the Federal Government is responsible for maintaining macroeconomic stability, states must create an environment that attracts investment and generates jobs.

“Abuja can provide economic stability, but states must unlock their unique competitive advantages by creating an enabling environment for investment, supporting local enterprise and translating economic opportunities into tangible prosperity for their people,” he said.

Highlighting Delta State’s economic potential, Oyedele cited its hydrocarbon resources, agricultural land, mineral deposits and blue economy opportunities, but noted that natural resources alone would not guarantee growth.

“Capital naturally flows to jurisdictions where policies are stable, institutions are responsive and investments are protected,” he said, urging investors to partner with reform-oriented states.

The minister also commended the Delta State Government for hosting the investment summit and reaffirmed the Federal Government’s commitment to policies that encourage private sector-led growth, improve competitiveness and deliver broad-based economic prosperity.