The Minister of Information and National Orientation, Mohammed Idris, has said the economic reforms being implemented by President Bola Ahmed Tinubu are beginning to produce measurable results, citing the rise in Nigeria’s foreign reserves and the country’s removal from a global financial monitoring list.
Idris made the remarks while receiving the Minister of Industry, Trade and Investment, Jumoke Oduwole, who paid him a courtesy visit in Abuja.
According to the Information Minister, Nigeria’s economic outlook is improving as a result of key policy reforms introduced by the current administration.
He noted that Nigeria’s foreign reserves have exceeded $50 billion for the first time in 13 years, describing the development as a significant indicator of growing economic stability.
Idris also highlighted Nigeria’s removal from the monitoring list of the Financial Action Task Force (FATF), a global body that tracks countries with weaknesses in anti-money laundering and financial transparency systems.
He said the development sends a strong signal to global investors that Nigeria is open for credible and transparent business opportunities.
The minister added that the Federal Ministry of Information and National Orientation would continue to promote and communicate the policies and programmes of the Federal Government, particularly those aimed at strengthening the economy and attracting investment.
“Our responsibility is to support other ministries by projecting their achievements and ensuring that government policies and programmes are clearly communicated to Nigerians and the international community,” Idris said.
He also stressed that the government is implementing measures to improve critical infrastructure needed for industrial growth, including ongoing reforms in the power sector to provide more reliable electricity for businesses and industries.
The minister further assured that the ministry would sustain efforts to raise awareness about government reforms while promoting Nigeria as a viable destination for global investment.
In her remarks, Oduwole said her visit was aimed at strengthening collaboration with the Information Ministry to enhance public awareness of the programmes and policy direction of the Federal Ministry of Industry, Trade and Investment.
She noted that Nigeria is currently pursuing strategies to expand industrial development, boost trade, and increase non-oil exports, as part of broader efforts to diversify the economy.
Oduwole also highlighted Nigeria’s participation in regional and global trade frameworks, including the African Continental Free Trade Area (AfCFTA), which she said provides opportunities for Nigerian businesses to compete effectively in regional and international markets.
The meeting was attended by senior officials from both ministries and their affiliated agencies.
