Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele,has declared that Nigeria has transitioned from a nation known for discussing reforms to one actively implementing them, positioning the country as a leading example for Africa’s economic transformation.
Speaking on Thursday on the sidelines of the Africa CEO Forum in Kigali, Rwanda, Oyedele said Nigeria’s reform agenda over the past three years had provided the continent with a practical case against slow and incremental policy approaches.
He noted that discussions at the forum reflected a broader continental shift from rhetoric to execution.
“Nigeria is still the largest economy by scale, by skills, by opportunities, by population. And we have done it. It wasn’t meant to be easy, but it was necessary,” Oyedele said.
“Africa is not just about saying we should do this or we should do that; we now have the example in Nigeria.”
According to the minister, the forum’s major focus on scale, speed, and credible institutions aligns with Nigeria’s recent reform experiences.
He stressed the need for African countries to work together to attract global attention, mobilise development finance, promote value addition over raw material extraction, and stimulate growth across key sectors such as agriculture, manufacturing, technology, and services.
“For Africa, the conversation is around scale and also around speed, as well as credible institutions. The time for rhetoric is over, and it is now time for execution,” he said.
Oyedele also provided insight into President Bola Tinubu’s bilateral meetings at the forum, revealing that discussions centred on attracting investments into Nigeria’s power sector, mining industry, and broader private-sector reforms.
“One very exciting thing about Mr President is that he is never tired of marketing Nigeria. He is the chief marketer for the country,” he said.
The minister disclosed that concrete investment commitments had already emerged on the first day of the summit, including agreements on port development, solid minerals, and private enterprise.
“Part of the engagement today included investment in port development, in mining under solid minerals, private enterprises, and so on. So it has been very good,” he stated.
Taiwo also highlighted President Tinubu’s meeting with Guinea’s President Mamadi Doumbouya, describing the relationship between the two leaders as cordial and strategic.
He said Tinubu commended Guinea’s leader for maintaining his country’s commitment to ECOWAS despite regional political pressures.
“Mr President commended the President of Guinea for not withdrawing from ECOWAS when the pressure was much on him to do that,” Edun noted.
He added that both nations were exploring stronger partnerships, particularly in mining and iron ore development, given Guinea’s vast mineral wealth.
Guinea is home to about one-third of the world’s known bauxite reserves and possesses the massive Simandou iron ore deposits, widely regarded as one of the world’s largest untapped high-grade iron ore resources.
The 13th Africa CEO Forum has brought together heads of state, chief executives, and global investors to discuss capital mobilisation, institutional reforms, and strategies for deeper economic integration across Africa.
