The Federal Government has announced that the economic and governance reforms initiated by President Bola Ahmed Tinubu are starting to demonstrate positive results, indicated by improved investor confidence and increased economic activity.
During a world press conference in London before President Tinubu's official visit to the United Kingdom at the invitation of King Charles III, the Minister of Information and National Orientation, Mohammed Idris, conveyed this message.
In a statement delivered by Rabiu Ibrahim, the minister’s Special Assistant on Media, it was noted that the reforms implemented under the administration’s Renewed Hope Agenda aim to stabilize the economy, restore fiscal discipline, and cultivate a more inviting atmosphere for investors.
Idris indicated that preliminary signs of these reforms' impact are becoming visible across crucial sectors of the economy.
"The early indicators of progress from the economic reforms are palpable, with improved investor confidence evident across key areas of the economy," the minister remarked.
He elaborated that inflation has diminished since 2023, trade surplus is growing, and the Central Bank’s Purchasing Managers’ Index has marked fifteen consecutive months of growth, showcasing renewed vitality in Nigeria’s manufacturing and services sectors.
Idris pointed out that pivotal policy changes, such as the elimination of the petrol subsidy and the unification of multiple foreign exchange regimes, have been enacted to promote fiscal transparency and bolster economic viability.
Additionally, he revealed that transformations within the oil and gas sector have enhanced Nigeria’s appeal to international investors.
“These reforms, along with various presidential executive orders pertaining to the oil and gas sector, have positioned Nigeria as Africa’s most attractive destination for oil and gas investments for two straight years, attracting over eight billion dollars in Final Investment Decisions from prominent international firms,” he stated.
"Each dollar invested creates jobs for Nigerians, facilitates the development of technical skills, revitalizes communities, and enhances revenue streams for governments at all levels," he added.
The minister further noted that Nigeria’s external reserves have shown significant growth, surpassing 50 billion dollars as of February 2026.
He mentioned that part of these reserves is now held in gold, as part of the nation’s strategy to diversify its financial holdings.
Idris also emphasized ongoing reforms aimed at improving the ease of doing business and enhancing Nigeria's credibility within the global financial framework.
He disclosed that Nigeria has recently exited the Financial Action Task Force grey list following the implementation of reforms aimed at combating money laundering and illicit financial flows.
The minister indicated that plans are underway to introduce a Customs Single Window, a unified digital platform that will connect trade agencies, importers, and exporters to streamline documentation processes and enhance international trade efficiency.
The reforms are complemented by substantial infrastructure investments throughout the nation, which include the Lagos–Calabar Coastal Highway, the Sokoto–Badagry Super Highway, and the Ajaokuta–Kaduna–Kano Gas Pipeline.
“These initiatives are intended to improve economic connectivity and foster industrial growth across Nigeria,” he explained.
Idris reiterated the government’s determination to maintain the reform agenda to ensure that democracy yields real benefits for Nigerians.
“The administration of President Tinubu is dedicated to stabilizing the economy, broadening opportunities, enhancing social protection, and investing in long-term national development,” he concluded.
Comments (0)
You must be logged in to comment.
Be the first to comment on this article!