Why Tinubu’s Reforms Are Causing Pain – Wale Edun

• Finance Minister Wale Edun explained that President Tinubu’s economic reforms, while challenging, are essential for long-term growth and stability in Nigeria
• Edun highlighted the benefits of redirecting funds from subsidies to infrastructure and social services, emphasizing the need for patience during reforms

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has explained why President Bola Tinubu’s economic reforms are causing Nigerians discomfort, rising costs, and challenges.

Speaking in Abuja on Friday during the launch of key civil service policies organized by the Head of Civil Service of the Federation (HCSF), Mrs. Didi Walson-Jack, Edun attributed the difficulties to past administrations’ delayed implementation of necessary reforms.

He stated, “After 18 months of bold and necessary reforms by Mr. President, the country has transformed. However, these overdue reforms brought pain, discomfort, and an increased cost of living. The successes and benefits are now beginning to materialize.”

Edun highlighted the gains from market-based foreign exchange pricing, emphasizing its immediate benefits to federal, state, and local government coffers.

He explained that 5% of Nigeria’s GDP, previously spent on subsidies, could now be redirected toward infrastructure, health, education, and other essential services.

Using an example, he said, “If Nigeria’s GDP was approximately $400 billion, 5% equals $20 billion—funds now available for impactful investments.”

The event also marked Walson-Jack’s 100 days as HCSF and unveiled four transformative civil service policies focused on rewards, recognition, and consequence management.

In her speech, Walson-Jack described the reforms as tools to embed excellence, integrity, and accountability in public service. She said the policies aim to make the civil service more professional, efficient, and responsive to Nigeria’s needs.

“Our theme, Marching to Greatness, reflects our commitment to building a globally competitive civil service that aligns with national aspirations,” she said.

The head of service urged newly promoted directors to act as role models, emphasizing their responsibility to inspire excellence within the civil service.

“This recognition of newly promoted directors underscores our dedication to fostering pathways for excellence among all civil servants,” she concluded.