‘Opposition can’t dispute these achievements’ – Ministers hail Tinubu govt
Tinubu Administration’s Economic Reforms Highlighted
ABUJA — Minister of Information and National Orientation Mohammed Idris emphasized the achievements of President Bola Tinubu’s administration during a courtesy visit from Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, on Thursday.
Idris noted that the economic reforms implemented since Tinubu took office in May 2023 are already yielding positive results. “All the fears, all the obstacles, appear to have given way because of these two very major policy reforms that the President embarked upon,” he stated.
Idris remarked on the historical significance of these reforms, stating, “For 40 years, no one dared to undertake them. The President understood that sustainable growth and Nigeria’s prosperous future depended on making these difficult decisions.”
He highlighted that Nigeria’s foreign reserves have exceeded $50 billion for the first time in 13 years, a milestone achieved in the last quarter of 2022. “This is the result of coordinated efforts across various sectors,” he explained.
Additionally, Nigeria was removed from the Financial Action Task Force’s gray list, a significant step in improving the country’s business environment. “Being on that list implied limitations on business opportunities due to concerns regarding money laundering and financing terrorism,” Idris said. “Being removed signals that Nigeria is now seen as a clean slate.”
He also reported a decline in headline and food inflation rates and an increase in the country’s gross domestic product. “All indices indicate that Nigeria is becoming a destination for investment,” he added.
Idris reassured citizens that the administration’s reforms are effective, stating, “You don’t need anyone to tell you that our reserves have surpassed $50 billion. No opposition can refute that our GDP has improved or that inflation is down.”
Oduwole, the Minister of Industry, Trade and Investment, acknowledged her ministry’s progress under the Renewed Hope agenda, especially in economic diversification and boosting non-oil exports. “We’ve achieved stabilization of the economy, and the President’s reforms have significantly impacted our efforts,” she stated.
Oduwole highlighted the ministry’s focus on mobilizing strategic investments for infrastructure and industrial transformation. She noted that the President has directed her ministry to promote industrialization and enhance support for domestic investors.
