Nigeria Reaffirms Far-Reaching Reforms for Economic Renewal

By Mnena Iyorkegh, Abuja

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Nigeria has reaffirmed its commitment to far-reaching reforms and deeper international engagement, highlighting its ambition for economic renewal, transparency and stronger global partnerships.

The Minister of Information and National Orientation, Mohammed Idris, stated this in Abuja during an interactive session with foreign media organisations.

He said the country was currently undergoing one of its most ambitious reform programmes in decades under President Bola Tinubu.

“We are embarking on the most comprehensive set of structural reforms in decades under the leadership of President Bola Ahmed Tinubu,” the minister said.

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He explained that the reforms span critical sectors, including the economy, security, taxation, education, infrastructure, and social welfare, with early results already emerging.

According to him, Nigeria’s real Gross Domestic Product (GDP) grew by 3.87 per cent in 2025, marking a significant turnaround.

“For the first time in nearly a decade, economic growth has outpaced population growth, signalling renewed momentum,” the minister noted.

Fiscal  Measures

Idris also highlighted key fiscal measures, including the removal of fuel subsidies and the unification of the exchange rate, which he said have generated savings now being redirected into infrastructure and social services.

On security, the Minister said intelligence-led operations have helped restore stability in parts of the country, while ongoing legislative efforts towards state policing are aimed at strengthening governance at the sub-national level.

Inclusive Growth

He further pointed to investments in agriculture, education, and youth development as critical drivers of inclusive growth.

“Programmes such as interest-free student loans and expanding digital infrastructure are creating new opportunities for young Nigerians,” he stated.

The Minister called for balanced global coverage, urging international media organisations to reflect both the country’s challenges and progress in their reporting.

“Accurate reporting requires holding both truths. We welcome robust engagement and partnership with the international media as we chart this course of renewal,” he said.

Imternational Collaboration

Idris reiterated Nigeria’s openness to international collaboration, stressing that strong media partnerships are essential to shaping global perceptions and supporting the country’s ongoing transformation.

Also speaking, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stressed that Nigeria’s reform agenda has entered a new phase focused on delivering tangible benefits to citizens.

“We have moved from fragility to stability, and now to consolidation, towards productivity and growth that Nigerians will feel in their daily lives,” Oyedele said.

On her part, the Minister of Industry, Trade and Investment, Jumoke Oduwole, highlighted the government’s strategy to drive economic diversification and position Nigeria at the forefront of Africa’s growth.

According to her, ongoing efforts are geared towards converting reforms into tangible outcomes, including increased investment, expanded trade, and job creation.

“Nigeria is not just participating in Africa’s growth; we are positioning ourselves to lead it through trade, investment, and industrialisation,” Oduwole added.

The session also drew key government officials, including presidential advisers and senior media aides, underscoring the administration’s emphasis on strategic communication and global engagement.

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