By Nana Musa
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called for implementable strategies to unlock the country’s vast underutilised creative and entrepreneurial potential.
Edun made the statement during an interactive session with the participants of the Senior Executive Course (SEC) 48, 2026 of the National Institute for Policy and Strategic Studies (NIPSS) in Abuja on Monday.
The minister whom was represented by the Permanent Secretary, Finance (PSF), Mr Raymond Omachi, has urged the participants to interrogate not only ideas, also the practical realities that shape their execution within Nigeria’s economic landscape.
Edun said that NIPSS was a longstanding pillar within the country’s policy ecosystem, the Institute has consistently enriched national discourse through rigorous analysis and strategic insight.
According to him, the depth of engagement associated with the Institute places a responsibility on participants to produce outcomes that are both intellectually sound and practically applicable.
The minister commended the theme of this year’s course “Economic Diversification and National Development: Leveraging the Orange Economy and Entrepreneurship for Sustainable Growth in Nigeria”.
Edun said that the focus was timely and necessary, particularly as the country continues to intensify efforts to recalibrate its economic structure.
He said that the country’s growth model over the years has been constrained by overdependence on a narrow revenue base, a situation that has repeatedly exposed the economy to external shocks and internal fragilities.
The minister reiterated the urgency of building a more resilient and diversified economic framework capable of sustaining long-term development.
“The imperative before us is clear, we must deliberately broaden the base of our economic activity, deepen productivity, and create sustainable value across multiple sectors.
“Within the broader context, the orange economy as a compelling, yet insufficiently harnessed, driver of growth, that global economic momentum is increasingly shaped by creativity, innovation, and digital enterprise, areas in which Nigeria already demonstrates a natural comparative advantage,” he said.
Edun said that from film and music to design and digital content, Nigerians continued to command global respect through ingenuity and resilience, often thriving despite structural constraints.
He said that talent alone cannot deliver systemic transformation.
“Our challenge is not the absence of creativity, it is how to design policies that can convert that creativity into scalable economic outcomes like job creation, enterprises, and measurable contributions to GDP,” the minister said.
Edun also said that meaningful diversification must be anchored on deliberate policy alignment and strong institutional frameworks.
He said that key enablers to include coherent regulation, sustainable financing mechanisms, skills development, improved market access, and a stable macroeconomic environment that incentivises investment and innovation.
According to him, these priorities are the focus of the ongoing economic reforms under the administration of President Bola Tinubu.
Edun said that the recent policy measures are directed at restoring macroeconomic stability and repositioning the economy for sustainable growth.
“Macroeconomic stability is not an abstract goal, it is the foundation upon which enterprise can flourish, investments can grow, and livelihoods can improve.”
The minister said that entrepreneurship was the engine that translates ideas into tangible economic value.
Edun said that fostering entrepreneurship extends beyond supporting small businesses to building a dynamic ecosystem where innovation can thrive and scale.
He reiterated the ministry’s commitment to prudent fiscal management, enhanced efficiency in public finance, and reforms aimed at removing barriers to productive activity.
According to him, sustainable economic transformation depends on coherence across fiscal, monetary, trade, investment, and human capital policies.
The Minister also underscored the importance of disciplined execution, the country’s policy landscape was not constrained by a shortage of ideas, but often by gaps in coordination and implementation.
“This engagement must go beyond conversation.
“It should produce clear, prioritised, and implementable recommendations that can make a measurable difference,” Edun said.
He also encouraged participants to adopt a pragmatic approach in their deliberations, focusing on realistic pathways for integrating the orange economy and entrepreneurship into the country’s broader development strategy.
According to him, the reports engagement forms part of the SEC 48 study tour, through which participants are expected to generate policy recommendations for a comprehensive report to be presented to the President later in the year.
The minister expressed confidence would reflect both intellectual depth and practical relevance.
Earlier, the Director-General (D-G)of the NIPSS, Prof. Ayo Omotayo, said that the institute’s engagement with the ministry forms part of its statutory mandate to generate practical policy solutions to national challenges
The D-G whom represented by Deputy Inspector- General of Police Adeleye Otebada (Rtd), said that since its establishment over four decades ago, the Institute has remained a critical policy think tank.
He said that with its flagship SEC consistently producing research outputs that has shaped government decisions and reforms.
Omotayo said that the current study theme was drawn from a presidential mandate focusing on the orange economy and entrepreneurship as viable pathways for sustainable growth and job creation.
He said that reflecting on previous studies on the digital and blue economies, several recommendations from those engagements are already being implemented, underscoring the Institute’s track record of delivering actionable and policy-relevant outcomes.
