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STATEMENT ON RECENT SECURITY OPERATIONS AND MARKET IMPLICATIONS
Nigeria remains firmly on a path of peace, stability, and economic progress.
In light of recent enquiries following the targeted joint security operation by Nigeria and the US conducted in Sokoto on Christmas Day, I wish to reassure investors, analysts, and our multilateral partners that Nigeria is not at war with itself, nor with any nation. What Nigeria is decisively confronting—alongside trusted international partners—is terrorism. This distinction is important, and it is fundamental to understanding the positive economic implications of recent actions.
The operation in question was precise, intelligence-led, and focused exclusively on terrorist elements that threaten innocent lives, national stability, and economic activity. Far from destabilising markets or weakening confidence, such actions strengthen the foundations of peace, protect productive communities, and reinforce the conditions required for sustainable growth. Security and economic stability are inseparable; every effort to safeguard Nigerians is, by definition, pro-growth and pro-investment.
Under the leadership of President Bola Ahmed Tinubu, GCFR, Nigeria has made tangible and measurable progress on both security and economic reform. These gains are evident in our macroeconomic performance. In the third quarter of 2025, Nigeria recorded GDP growth of 3.98%, following a strong 4.23% growth in Q2. We expect a stronger Q4 2025 GDP performance. Inflation has decelerated for the seventh consecutive period and is now below 15%, reflecting improving price stability and the effectiveness of coordinated fiscal and monetary actions.
Our financial markets remain resilient. Domestic and international debt markets are stable and functioning efficiently, supported by prudent fiscal management. Over the past year, Nigeria has received credit rating upgrades from Moody’s, Fitch, and Standard & Poor’s—clear, independent endorsements of the strength of our reforms and the credibility of our economic direction. We have maintained fiscal discipline, prioritised efficiency, and protected macroeconomic stability—demonstrating resilience in the face of external shocks.
As President Bola Ahmed Tinubu noted in his address last week, our overarching objective for 2026 is to consolidate the gains of 2025, strengthen Nigeria’s economic resilience, and continue building a sustainable, inclusive, and growth-oriented economy. The actions we take today—on security, reforms, and fiscal discipline—are aligned with that goal.
As markets reopen on Monday, 29 December 2025, investors can be confident that Nigeria remains focused, reform-driven, and committed to stability. The fundamentals are strengthening, the policy direction is clear, and the resolve of this administration—to protect lives, secure prosperity, and grow the economy—is unwavering.
Nigeria remains open for business, anchored in peace, and firmly focused on the future.
Wale Edun, OFR
Honourable Minister of Finance
and Coordinating Minister of the Economy
December 28, 2025
finance.gov.ng
