The Federal Government has said it plans to invest more in the economy, rely more on domestic resources, and reduce its dependence on borrowing.

Minister of Finance Wale Edun said this while speaking on Bloomberg Television at the ongoing 56th World Economic Forum in Davos, Switzerland, on Tuesday.

The minister’s remarks come as Nigeria implements fiscal reforms aimed at strengthening its economy.

Edun emphasised the need to focus on revenue generation.

The Minister added that while the country could access international bond markets, if necessary, the government’s priority is to mobilise its own resources.

He outlined the government’s efforts to raise tax revenue and strengthen fiscal sustainability amid mounting global economic pressures.

Edun also highlighted strategies aimed at reducing borrowing while expanding revenue generation.

“The issue now is to focus on revenue, focus on domestic resource mobilization,” he said.

“We’re hoping to rely less on borrowing,” he added.

The minister also noted that Nigeria remains open to international capital markets if needed, but domestic reforms are central to the government’s fiscal policy.

Since taking office in 2023, President Bola Tinubu’s administration has introduced several economic reforms to drive growth and stabilise public finances.

These measures include removing currency restrictions, ending a costly fuel subsidy, and overhauling the nation’s tax framework.

Other measures introduced by FG include the tax reforms, which aim to raise revenue to 18% of GDP next year, up from roughly 14% currently.

The Minister also noted that FG’s policies target long-term economic sustainability while reducing reliance on external debt.

These initiatives. he emphasised are part of broader efforts to modernize Nigeria’s economy and strengthen investor confidence.

Economic forecasts indicate Nigeria’s reforms are showing early signs of progress.

The International Monetary Fund upgraded Nigeria’s growth forecast to 4.4% for 2026, up from an estimated 4.2% in 2025.

IMF’s projections come despite weaker oil prices, Nigeria’s top export and major foreign-exchange earner.

It also noted that government reforms are expected to further stabilize revenue collection and support fiscal sustainability.

“The combination of domestic resource mobilisation and ongoing reforms underscores Nigeria’s effort to reduce debt dependence and strengthen its economic foundations,” the IMF had said.

Edun will use the Davos meeting to address investor concerns around policy consistency, inflation, foreign exchange stability, and fiscal sustainability.

Nigeria’s message at WEF 2026 is shaped by wider global realities affecting emerging markets.

The Federal Government will also debut its first-ever official national pavilion, Nigeria House Davos, at the Forum.

Controversial Nigerian singer, Portable, has regained his freedom after spending a week in prison.

The singer was released on Monday January 19 2026, after meeting his bail condition.

Speaking in a now trending video on social media, Portable said “they lied against me. I’m innocent.”

Recall that Portable was remanded in prison a week ago after he was accused of assault and theft by his baby mama, Ashabi Simple and her siblings.

The drama started on New Year’s eve when a video capturing Ashabi and the singer in a heated exchange surfaced online, with Ashabi holding his clothes and saying “Pami baby” (Baby you have to kill me).

Following the incident, Ashabi and her siblings arrested Portable for assault and stealing their car.

He was, however, arraigned last week Monday on a nine-count criminal charge, including theft, causing harm, assault, and resisting arrest before the Federal High Court sitting in Ota, Ogun State.

The presiding judge remanded the singer and adjourned a fresh bail hearing till Monday January 19, 2026.

Afrobeats star, Ikuforiji Olaitan, popularly known as Oxlade, has revealed that he doesn’t smoke or take hard drugs.

In a candid interview with gospel singer Tim Godfrey, Oxlade explained that his family and religious backgrounds made him shun vices.

The ‘Ku Lo Sa’ hitmaker emphasised that he is from a strong Christian and musically inclined family.

Oxlade stated that he started his music career in the choir and that shaped his personality and approach to music.

“I don’t smoke. I don’t take drugs. I was a choir coordinator for every age group; children’s church, teen church, the youth choir and the mass choir.

“All my life I have been in the choir. I was raised in a musically inclined family. My grandma is a deaconess and an amazing singer. My grandad used to be a multi-instrumentalist. My mum could dance and sing. I have a pastor in my family. My gospel music writing is actually the best. Gospel music is the best music,” he said.

The singer added, “Regardless of whichever perspective I am viewed, you should know that God is equally blessing me as much as he is blessing you. You can’t tour 40 cities with your debut album if God doesn’t want it to happen. As long as God is ordaining these steps and movements, there is really nothing for me to worry about.”