The Minister of Information and National Orientation, Alhaji Mohammed Idris, has said President Bola Tinubu’s economic reforms are ilising Nigeria’s economy, restoring confidence, and placing the country on a path of sustainable growth. Idris made the remarks during a virtual interview on ICAN On Air, a live programme of the Institute of Chartered Accountants of Nigeria.
According to the minister, key reforms such as the removal of the fuel subsidy and the unification of the foreign exce rate were deliberate decisions aimed at addressing deep structural problems threatening the nation’s economic survival. He noted that while these measures caused short-term shocks, they were essential to redirect national resources to the broader population.
“Recent economic indicators show clear signs of improvement, including higher foreign reserves, easing inflation, and growing investor and international partner confidence,” Idris said. He highlighted that Nigeria’s foreign reserves now stand at about 46 billion dollars, the highest in eight years, and headline inflation has dropped significantly.
Idris also cited Nigeria’s removal from the Financial Action Task Force grey list as a credibility boost, improving access to global capital and strengthening the country’s international financial standing. On tax reforms, he explained that the goal is to simplify the system, remove duplication, and fairly expand the tax net for better development planning.
The minister stressed the importance of trust in governance, noting that transparent engagement with citizens is critical for meaningful development. He highlighted efforts to combat misinformation through media literacy initiatives and inter-agency collaboration while maintaining freedom of expression.
Idris expressed optimism that Nigerians will soon see tangible benefits of the reforms in infrastructure, education, healthcare, and sub-national development, urging patience and continued engagement as the government implements its policies.
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