Nigeria to emerge as formidable economic superpower, Idris says

Nigerian Minister of Information and National Orientation, Mohammed Idris has said that President Bola Ahmed Tinubu’s policies and reforms which are designed to address the missteps of the past will make the country to emerge as a formidable economic superpower in the near future.

Idris who stated this in his address in Abuja on Thursday at a press conference to unveil activities lined up for the 64th Independence Anniversary of Nigeria said a lot of work is going towards ensuring macroeconomic, the foreign exchange stability, reforming the tax system to make it more efficient.

According to him, “Under the visionary leadership of President Tinubu, we have initiated transformative policies and reforms aimed at correcting the missteps of the past and repositioning Nigeria as an economic superpower in the near future.
“Despite global economic headwinds and the transitional pains accompanying some of the reforms, the President has remained focused in his efforts towards reviving our economy and returning the country to the path of prosperity and sustainable growth,” he said.

The Minister noted that the President is gradually guiding Nigeria into a unique energy transition phase through the launch of the presidential initiative to move the country from fossil fuels to Compressed Natural Gas (CNG) as a fuel for vehicles and machinery.

He acknowledged that the ongoing rollout of CNG and associated infrastructure is reducing transportation costs for Nigerians by up to 60 percent, creating jobs, and attracting tens of millions of dollars in local and foreign investment.
“In multiple ways the President is focused on putting more money in the pockets of the Nigerian people, and creating avenues for sustainable prosperity,” the Minister said.

Idris expressed how the President in a groundbreaking effort to transform rural socio-economic development in Nigeria, successfully sought and obtained landmark Supreme Court judgment granting autonomy to local governments.

He said that singular decision ensures that elected Local Government Administrations now have direct fiscal control, which will intimately enhance grassroots governance and development while promoting greater effectiveness and accountability in local governance.

“In addition, a lot of work is going towards ensuring macroeconomic stability, stabilizing the foreign exchange regime, reforming the tax system to make it more efficient, and less burdensome on Nigerians, repositioning our oil and gas sector to attract new investment, and prioritizing diversification and expansion of government revenues,” he stated.
Speaking of the 64th independence anniversary, the Minister said it’s a time of reflection, celebration, and renewed hope, while stressing that so far Nigeria has demonstrated resilience, strength, capacity, and an unyielding spirit in the face of numerous and daunting challenges.

Idris narrated that since gaining independence in 1960, Nigeria has evolved from a nation of hope and potential into a leading force on the African continent and a respected voice in the global community.

And that he said despite numerous trials, the nation always emerges stronger through the citizens’ shared unwavering vision of a united and prosperous country.

The Minister used the occasion to commend Nigerians for their patience and resilience in this very difficult period in the evolution of the nation’s economy, noting that the journey has been tough but there is light at the end of the tunnel.
He said with the recent ratification of the National Values Charter by the Federal Executive Council, the Federal Ministry of Information and National Orientation would now commence the implementation of the Charter in line with President’s commitment to fostering moral, ethical, and cultural reawakening.

The Minister said, “The charter will bolster the conviction that the things that unite—our sense of nationhood, our obligations to our country, and its obligations to us—will always be stronger and deeper than what may wish to divide us”.

The Secretary to the Government of the Federation, Senator George Akume, unveiled the programmes for the 64th Independence Anniversary on the occasion, which was attended by the Ministers of Budget and Economic Planning, Senator Atiku Bagudu.

Also, the Finance and Coordinating Minister of Economy, Mr. Wale Edun; Works Minister, Dave Umahi; Minister of Water Resources, Prof. Joseph Utsev; Education, Prof. Tahir Mamman; Tourism, Lola Ade-John, Special Duties and Inter-Governmental Affairs, Zaphaniah Jisalo among other top govt functionaries and presidential aides.