Nigeria's economic landscape has thrust immediate challenges onto the plate of the recently appointed Minister of Finance and Coordinating Minister of the Economy, Olawale Edun. Financial experts emphasize that it is now his foremost responsibility to address the nation's fiscal, monetary policy, inflation, unemployment, foreign exchange, and debt-related issues.

Amid his inauguration on Monday by President Bola Ahmed Tinubu, Edun finds himself grappling with pressing concerns. July's inflation rate soared to 24.08%, while the country shoulders a substantial N77 trillion debt and witnesses a rise in poverty levels. The removal of fuel subsidies coupled with a foreign exchange crisis has further heightened the cost of living for Nigerians.

In parallel, President Tinubu, during his address at the inauguration of his 45-member ministerial cabinet, called upon the ministers to confront the multitude of challenges confronting the nation.

“In this moment of abundant promise and peril in equal measure, all of you that have been sworn in have been called to distinguish yourselves. Nigerians are highly expectant of excellence in service delivery, accountability, and transparency,” he said.

Echoing Tinubu's call to the Ministers, specialists have stressed the importance for Edun and his Ministry of Finance team, along with its affiliated agencies, to directly address inflation, poverty, unemployment, and the devaluation of the Naira in comparison to other currencies.