FG says Tinubu’s Economic Reforms driving strong global confidence in Nigeria

The Federal Government has said the economic and governance reforms being implemented by the administration of President Bola Ahmed Tinubu are strengthening global confidence in Nigeria and creating new opportunities for trade, investment and international cooperation.

The Minister of Information and National Orientation, Mohammed Idris, made this known on Sunday in London during a World Press Conference held ahead of President Tinubu’s official visit to the United Kingdom at the invitation of King Charles III.

Idris said Tinubu‘s visit reflects the long-standing relationship between Nigeria and the United Kingdom and offers an opportunity to deepen cooperation between both countries.

“This visit highlights the historic and strategic relationship between Nigeria and the United Kingdom, a partnership built on deep diplomatic, economic, cultural, and democratic ties,” the minister said.

According to him, the engagement will provide a platform for both nations to strengthen collaboration in areas such as trade and investment, security cooperation, climate action, education and technological innovation.

The minister also said Nigeria’s democratic system has continued to mature after more than two decades of uninterrupted civilian rule.

“Nigeria’s democracy continues to grow stronger after more than two decades of uninterrupted democratic governance since 1999, supported by vibrant institutions, an active civil society, and a dynamic media environment,” Idris stated.

He explained that President Tinubu’s administration remains focused on ensuring that democracy delivers tangible benefits to Nigerians through the Renewed Hope Agenda, which prioritises economic stability, expanded opportunities, social protection and long-term national development.

Idris pointed to key policy decisions by the government, including the removal of petrol subsidy and the harmonisation of multiple foreign exchange windows, noting that the reforms were designed to promote fiscal transparency and create a predictable investment climate.

He said the reforms, along with a series of executive orders in the oil and gas sector, have positioned Nigeria as Africa’s most attractive destination for oil and gas investment for two consecutive years.

“These reforms have attracted over eight billion dollars in Final Investment Decisions from major international companies,” Idris said.

“Each of these investment dollars represents jobs for Nigerians, technical skills development, revitalised communities, and stronger revenues for governments at all levels,” he added.

The minister also announced that Nigeria will soon launch a Customs Single Window, a unified digital platform aimed at connecting trade agencies, importers and exporters to simplify documentation processes and enhance efficiency in international trade.

He further disclosed that Nigeria recently exited the Financial Action Task Force (FATF) grey list after implementing major reforms to tackle money laundering and illicit financial flows.

According to Idris, the development has strengthened Nigeria’s credibility within the global financial system and improved the ease of doing business in the country.

He added that the government is also implementing reforms in the mining sector to improve transparency and ensure that only credible investors participate in the development of Nigeria’s mineral resources.

The minister said early results of the economic reforms are already visible across key sectors.

“Inflation has halved since 2023, trade surplus is expanding, and the Central Bank’s Purchasing Managers’ Index has recorded fifteen consecutive months of growth, reflecting renewed momentum in Nigeria’s manufacturing and services sectors,” he said.

Idris also revealed that Nigeria’s external reserves have surpassed 50 billion dollars as of February 2026, with part of the reserves now held in gold as part of the country’s diversification strategy.

He highlighted several major infrastructure projects currently underway, including the Lagos–Calabar Coastal Highway, the Sokoto–Badagry Super Highway, and the Ajaokuta–Kaduna–Kano Gas Pipeline, noting that the projects are designed to improve economic connectivity and stimulate industrial growth.

In the power sector, he said initiatives such as the Presidential Power Initiative, the Presidential Metering Initiative, and the newly established Grid Asset Management Company are aimed at expanding electricity infrastructure and improving access to power nationwide.

The minister also stressed the government’s commitment to human capital development, revealing that the Nigerian Education Loan Fund has already enabled more than one million students to pursue higher education without paying tuition upfront.

On security, Idris said the government has strengthened intelligence sharing and operational coordination among security agencies to tackle terrorism, banditry and organised crime.

He added that Nigeria is also expanding security cooperation with international partners, including the United Kingdom and the United States.

Idris noted that the Nigerian Navy, ranked as Africa’s strongest naval fleet in the 2026 Global Firepower Index, is leading efforts to establish a Combined Maritime Task Force aimed at enhancing security in the Gulf of Guinea.

The minister reaffirmed Nigeria’s commitment to religious freedom, peaceful coexistence and national unity, describing the country’s diversity as one of its greatest strengths.

He also emphasised Nigeria’s role in regional and global affairs, noting that the country continues to contribute to peacekeeping operations and international cooperation in addressing challenges such as climate change, migration and energy security.

“We deeply value our long-standing partnership with the United Kingdom and look forward to strengthening collaboration in the years ahead,” Idris said.

He assured that Nigeria remains open to responsible investors worldwide, stressing that government policies support regulatory transparency, tax incentives and full repatriation of profits.

The statement was issued by Rabiu Ibrahim, Special Assistant (Media) to the Minister of Information and National Orientation.