Nigeria Finance Minister Oyedele Proposes Tribunal, Credits Reforms for Economic Stability

Finance Minister Taiwo Oyedele announced plans for a specialised Commercial Dispute Resolution Tribunal to fast‑track business disputes, noting that current litigation can take up to 15 years and deters investment. The tribunal would be staffed by judges and arbitrators with commercial, financial and capital‑market expertise, use digital case‑management and enforce mandatory timelines.

Oyedele also defended public borrowing, arguing that debt should be judged by its purpose, cost, return and repayment terms rather than its size, and urged the public to view borrowing as a tool for productive investment. He highlighted the “seven laws of capital attraction,” stressing that investors value policy consistency, strong institutions and rule of law over tax incentives.

Speaking at the Nigeria Employers’ Summit and the Capital Market Academics of Nigeria conference, he credited President Bola Tinubu’s reforms – notably the removal of fuel subsidies and comprehensive tax reforms – with averting an imminent economic collapse and shifting the economy from volatility to stability. He outlined targets of 7% real GDP growth and at least 5% per‑capita income growth, and stressed the need to accelerate inclusive, job‑rich growth while protecting low‑income earners.