The Nigerian government has reaffirmed its commitment to consolidating the progress achieved through recent reforms as President Bola Tinubu’s administration approaches its midterm.
The Minister of Information disclosed this during a press briefing in Abuja, marking the commencement of the 2025 Ministerial Briefing Session. He highlighted the administration’s determination to build on the advancements made in the first 19 months, ensuring sustained development and policy continuity.
More details on the government’s strategic direction are expected to be outlined in the ministerial sessions.
The Honorable Minister of Information & National Orientation, @HMMohammedIdris kickstarts the Ministerial Press Briefing series for the year 2025. Today’s #FMINOBriefing heralds a series of Weekly Ministerial Briefings which will be an opportunity for Ministers to showcase and… pic.twitter.com/EWw4TtYo8q
— Fed Min of Info & Nat’l Orien (@FMINONigeria) February 11, 2025
“Fiscal, macroeconomic and legislative reforms. Under that, we have the fuel subsidy remover. This has helped to block leakages amounting to hundreds of billions of Naira annually. Foreign exchange transparency and stability: Various measures, including the introduction of what is called the Electronic Foreign Exchange Matching System, EFEMS for short, last December, have resulted in unprecedented stability and a declaration of billions of dollars.
“Foreign exchange backlogs that have in total discouraged foreign investment in our country. Only last week, the naira hit an eight-month high as the official foreign exchange market. According to the Nigerian Exchange Group, foreign capital inflow into the Nigerian Stock Exchange has risen from 4% in mid-2023 to an average of 16% by the end of 2024. Oil and gas reforms. Oil and gas reforms in 2024 made Nigeria the most attractive destination for oil and gas investments in Africa, as well as attracting over $5 billion in signed investment commitments, that is known as the Final Investment Decisions,” he said.
While reaffirming the government’s commitment to lowering the cost of food commodities through massive investments in agricultural production, the Information Minister explained that the government would not impose price controls on food commodities in line with the principles of a free-market economy. However, it remains focused on reducing prices by boosting agricultural production and increasing supply.
“In the past, we used to have these commodity boards where prices were fixed, but in the spirit of the free market and encouraging entrepreneurship, especially within the agricultural value chain, the government didn’t feel that it was necessary for them to begin to control prices. Now, what the government is doing is to ensure that there is massive production of food items, and it’s a supply and demand issue. Once you have whatever you need in abundance, the tendency is that the price will automatically come down,” he said.
He noted that the current administration is investing massively in agriculture and, at the same time, encouraging private sector investment in the sector to drive down food prices.
“This government is a very dynamic one. The government is a listening one. This is what the government is doing at the moment. The government feels there should be a market that is free, a market that people can operate within. A market where young and educated people can invest in agriculture and make a profit. Look at what is happening in Nigeria. In many states, people are massively investing in agriculture, and if this trend continues in the next few years, Nigeria will certainly be sufficient in food production“, he noted
While speaking on the successes in the security sector, Idris said in 2024, the security forces neutralised more than 8,000 terrorists and bandits and arrested 11,600 others, with more than 10,000 weapons recovered.
He stressed that with the government’s sustained efforts against terrorists and bandits, the nation’s highways are becoming increasingly safer.
“While we still have a lot of work ahead, our highways have grown safer. The hitherto notorious Abuja-Kaduna highway is one example. As I said, there’s still much more to be done, and we will not relent in our effort. Additionally, about 8,000 kidnapped victims were successfully rescued. We will continue to work to drive down the number of victims while scaling up our success stories in terms of deterrence, crime-solving, and prosecutions,” he said.
On the student loan, the Minister of Information said that the government has disbursed N32.8 billion to over 169,000 indigent students through the Nigerian Education Loan Fund as part of efforts to ensure that no Nigerian child is unable to attend higher institutions on account of poverty.
“When the student loan scheme started, the federal government made provisions for 500,000 people. As of today, only 169,000 have been captured. This means there is still space for more people. The programme is a very straightforward and streamlined scheme. All those who were qualified have been taken. If your application didn’t sail through, it is because you didn’t meet the criteria. It is purely an online thing, and there is no discrimination about it. If you get admission today and you are enrolled, you are assured of the subsequent year until you graduate. The loan is divided into two. The first part is school fees, while the second is upkeep allowance; the N20 billion was for school fees and N12.8 billion for upkeep allowances for the students,” he said.
Over the next three months, different ministers are expected to appear before the media to update Nigerians on what the present government has done and is still doing to ensure Nigerians are in good condition.
The 2025 ministerial briefing is an opportunity to remind Nigerians of the gains of the renewed hope agenda and to set the context in which these gains are being recorded as the present administration proceeds into its midpoint.
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