Minister of Information and National Orientation, Mohammed Idris, said President Bola Ahmed Tinubu’s economic reforms have stabilised Nigeria’s economy, rebuilt confidence, and put the country on a path of sustainable growth after years of fiscal instability.
The minister, who spoke during an interview on ICAN On Air, described key measures like fuel subsidy removal and foreign exchange unification as bold decisions to correct structural economic flaws and prevent national insolvency.
Idris highlighted trust and transparency as crucial to governance, pledging open communication and responsiveness to public feedback.
He asserted that President Tinubu was willing to adjust policies while maintaining commitment to necessary reforms.
The minister recalled that as of May 2023, many states couldn’t pay salaries and almost all revenue was going into debt servicing.
Idris acknowledged that the reforms caused short-term economic hardship but stressed that they were already yielding results in the form of indicators that include foreign reserves rising to about $46 billion (the highest in eight years), falling inflation and renewed investor and international confidence.
“Without trust, there is no way you can build confidence, and without confidence, there can be no meaningful development. Our job is to communicate government policies truthfully, transparently, and listen to feedback from Nigerians,” Idris said.
He also noted Nigeria’s removal from the FATF grey list, which he described as a boost to the nation’s financial credibility.
On tax reform, he clarified it aims to simplify and expand the tax base, not increase burdens, ensuring fairness and better developmental planning.
On the challenge of misinformation, Idris said the government was strengthening inter-agency collaboration and media literacy to curb the spread of fake news without undermining freedom of expression.
He said, “Fake news is dangerous. If you don’t find a way to reduce its impact, you wake up one day, and you don’t have a country. Media freedom is critical, but it must come with responsibility.”
Idris concluded by urging patience and engagement from Nigerians, assuring that the long-term benefits of reforms will reflect in areas like infrastructure, education, healthcare, and state-level development.
