The Federal Government is preparing to audit the Nigerian National Petroleum Company Limited (NNPCL). Finance Minister Wale Edun shared this update at the Nigerian Investor Forum in Washington, D.C.
“This audit is part of our broader plan to clean up and examine the NNPCL closely,” Edun stated.
Edun spoke to top global investors, including representatives from J.P. Morgan, about Nigeria’s economic recovery efforts.
“We’ve laid a strong foundation to attract private investment,” he said. “We don’t just want to sustain momentum—we aim to accelerate it.”
The government is pushing for 7% annual economic growth. Edun noted that the economy expanded by 3.84% in the last quarter of 2024 and saw a 3.4% growth for the entire year.
Focus on Agriculture and Infrastructure
One key focus is agriculture. The government wants to boost food supply without relying on imports.
“We aim to close the food supply gap by helping local producers scale and innovate,” Edun explained.
Internet access is also getting a boost. The government is rolling out 90,000km of fibre optic cable to support businesses and tech startups.
On roads, Edun revealed that 4,000km have been offered for private investment, with the first 1,000km already approved for construction.
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