The Federal Government has said that, under President Bola Tinubu’s direction, Nigeria’s economy is beginning to recover steadily. It attributes this encouraging trend to the administration’s extensive reforms.
During a courtesy call at his office on Wednesday, Mohammed Idris, Minister of Information and National Orientation, made this statement to members and recently elected leadership of the Nigerian Guild of Editors in Abuja.
Idris said that while Nigeria’s economy was not yet in “El-dorado,” no one could claim that there was no development, and that international rating agencies were starting to pay attention to the country’s economic trajectory in a statement signed by his Special Assistant on Media.
“The economy is not yet what we want it to be but we can see that there is a steady progression. The President has said over and over again that we are turning the corner. I know that many people will say it’s not yet El-dorado. Yes! I also agree but you cannot always say that there is no progress.
“Even all the rating agencies in the world are also giving Nigeria some pass marks. We are seeing some upward ticks in the way our economy is being managed,” he said.
The minister claims that historic policy changes like eliminating fuel subsidies and standardising foreign exchange rates are already having a beneficial effect on the economy.
He emphasised that despite their difficulty, these measures are a component of the administration’s long-term economic stabilisation and growth plan.
Idris added that the Students Loan Scheme is one of the administration’s main social investment projects and that it presently helps about 300,000 Nigerian students.
Idris reaffirmed the Tinubu administration’s commitment to press freedom and freedom of expression, calling them “the cornerstone of the nation’s democracy.”
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