Tinubu’s Reforms Paying Off As Nigeria’s Foreign Reserves Cross $50bn – Information Minister
As Nigeria navigates sweeping economic reforms aimed at stabilising the economy and attracting investment, the Federal Government says early signs of progress are beginning to emerge.
The Minister of Information and National Orientation, Mohammed Idris, says the economic reforms introduced by President Bola Ahmed Tinubu are already producing measurable results, including a significant rise in Nigeria’s foreign reserves.
Idris made the remark on Thursday while receiving the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, who paid him a courtesy visit in Abuja.
According to the Information Minister, Nigeria’s foreign reserves have crossed the $50 billion mark for the first time in 13 years, a development he described as a strong indicator of growing confidence in the country’s economy.
He also highlighted Nigeria’s recent removal from the Financial Action Task Force (FATF) grey list, noting that the move sends a positive signal to global investors that Nigeria is open for legitimate business.
Idris emphasised that the Ministry of Information and National Orientation remains committed to effectively communicating the Federal Government’s policies and programmes, particularly those designed to strengthen the economic environment and attract investment.
“The Federal Ministry of Information and National Orientation is always about servicing you, amplifying the work that you do, and ensuring that Nigerians and the international community understand the policies and programmes of government,” he said.
The Minister also noted that the Tinubu administration is pursuing reforms aimed at strengthening infrastructure critical to industrialisation, including improvements in the power sector to guarantee more reliable electricity supply for businesses and industries.
Earlier, Oduwole said her visit was to deepen collaboration with the Information Ministry in amplifying the policies and programmes of the Ministry of Industry, Trade and Investment.
She explained that the ministry is working to unlock global demand for Nigerian products, boost domestic industrial capacity and mobilise strategic investments to drive economic transformation.
Oduwole also highlighted Nigeria’s participation in regional and global trade initiatives, including the African Continental Free Trade Area (AfCFTA), aimed at positioning Nigerian businesses to compete effectively in international markets.
She stressed that telling Nigeria’s economic reform story remains essential in showcasing the progress made by the administration and attracting global investment.
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