The Nigeria’s economy is beginning to shift from stabilisation to opportunity, Information and National Orientation Minister Mohammed Idris said on Monday, citing stronger growth, lower inflation, rising oil production and record non-oil exports as evidence that Federal Government’s reforms are taking effect.
Speaking at a media chat with senior editors and journalists at Radio House in Abuja, Idris said the economy was projected to grow by more than 4 per cent in 2026.
He said inflation had declined from about 27 per cent in January 2025 to around 15 per cent, although the government’s ultimate goal remained single-digit inflation.
Nigeria’s current-account surplus rose to $12 billion in the first half of 2026, up from $8.6 billion during the same period in 2025, according to figures presented by the minister.
External reserves also exceeded $54 billion in September — their highest level in almost two decades — while improved foreign-exchange market stability was allowing businesses and investors to plan with greater confidence, he said.
Idris further reported that Nigeria earned more than $6 billion from non-oil exports in 2025, describing the figure as a national record. The earnings, he said, benefited businesses and entrepreneurs in agriculture, mining, petrochemicals, manufacturing, processing, transport
and logistics.
From macroeconomic gains to household relief
The minister acknowledged that many Nigerians continued to face severe cost-of-living pressures.
He said President Bola Ahmed Tinubu’s administration was now focused on
ensuring that improved economic indicators translated into more jobs, stronger businesses, affordable essential services and greater purchasing power for households.
“Macro-economic recovery” must be felt beyond official statistics, Idris said, including in food prices, markets, transport costs, fuel expenses and household incomes.
He said the government was working to make the benefits of its reforms more visible in everyday life.
Infrastructure spending, he added, was intended both to improve connectivity and to generate economic activity for contractors, suppliers, engineers, artisans, transporters and food vendors.
Four so-called Legacy Projects cover approximately 3,000 kilometres across
Nigeria’s six geopolitical zones, while a recently approved highway project valued at about ₦1.5 trillion is expected to strengthen a major agricultural and commercial corridor in Niger State.
The minister also pointed to agriculture as a central pillar of the government’s foodsecurity strategy. Mechanisation, improved access to inputs, irrigation and agricultural financing are being deployed to increase domestic production, improve farmers’ incomes and reduce food costs, he said.
Health, education and energy initiatives
Idris said the government had commissioned two additional cancer- treatment centres, bringing the number of commissioned centres to five.
The administration is working towards making 10 centres available nationwide, he said, alongside efforts to revitalise
primary healthcare.
The Presidential Compressed Natural Gas and Electric Vehicle Initiative has attracted about $2.5 billion in private investment, in addition to approximately ₦250 billion in government funding and commitments, according to the minister.
More than 120,000 vehicles have been converted, while Nigeria now has over 400 certified conversion centres and more than 90 refuelling stations. About 180 additional stations are in development, he said.
The initiative is intended to expand lower-cost energy alternatives, reduce dependence on petrol and create jobs and businesses in host communities.
Idris said the government remained aware of the burden created by higher energy costs but was committed to
reforms aimed at expanding domestic production and achieving sustainable reductions in living costs.
On education, the minister said the Nigerian Education Loan Fund had supported more than 1.6 million students, paying over ₦192 billion in tuition and ₦180 billion in upkeep
allowances. The support, he said, was easing the financial strain on students, parents and guardians.
The government’s Three Million Technical Talent programme is also expanding training in software development, data science, cybersecurity and other emerging technologies.
Idris linked the programme to the administration’s wider effort to diversify the economy through industrialisation, digitisation, innovation, domestic refining and development of solid minerals.
Pension and power-sector debts
The minister said the Federal Govt had issued a ₦758 billion bond to clear pension arrears dating back to 2007, benefiting nearly one million pensioners.
It had also issued ₦1.2 trillion in bonds to settle inherited debts owed to power- generation and gas companies, a move he said would help create the conditions for fresh investment in the electricity sector.
The National Social Register is currently directing support to more than 10 million households, while the Consumer Credit Corporation is helping working Nigerians spread the cost of essential purchases, Idris said.
Security progress, but challenges remain
Turning to national security, Idris said the administration had strengthened the operational capacity of the Armed Forces, intelligence services and other security agencies through improved coordination, equipment, logistics and support for personnel on the front lines.
He said security forces had recorded successes against terrorists, bandits, kidnappers and other criminal groups in several theatres of operation.
According to the minister, terrorist commanders and criminal kingpins had been neutralised, insurgent networks disrupted, hostages rescued and criminal enclaves dismantled.
In the Niger Delta, intensified operations against crude-oil theft, illegal refining and pipeline vandalism had helped improve oil production and protect government revenues, he said.
Idris nevertheless acknowledged that serious security threats persisted in parts of the country.
He said the government did not minimise the suffering of families affected by terrorism, banditry, kidnapping and communal violence, and pledged that it would continue investing in personnel, technology, intelligence and operational capabilities.
“The security of Nigerians is not negotiable,” the minister said, assuring citizens that the government would continue working to protect vulnerable communities and restore safe access to farms, markets, roads and workplaces.
States urged to meet their responsibilities
Idris also defended the administration’s federalism agenda, saying President Tinubu had sought to strengthen states and local governments through larger fiscal transfers, efforts to secure local- government autonomy, proposals for state police and electricity reforms that would allow states to invest in and regulate the sector.
At the same time, he urged subnational govts to take greater responsibility for services that most directly affect citizens, including urban transport, schools, primary healthcare and waste management.
Citing a recent World Bank report, Idris said the combined capital expenditure of Nigerian states increased by 151 per cent in real terms between 2023 and 2025, with major increases in transport, education, healthcare and social investment.
He called on the media to hold all three tiers of government accountable for their responsibilities.
A call for scrutiny and context
Idris framed the government’s economic and social policies as part of the eight priority areas of the Renewed Hope Agenda: economic growth, national security, agriculture and food security, energy and natural resources, infrastructure and transportation, education and health, industrialisation and innovation, and governance.
He said the administration’s achievements were measurable and expanding, while conceding that substantial work remained.
The government’s task, he said, was to
consolidate the gains of reform and ensure that they translated into improved living conditions throughout the country.
The minister ended by urging journalists to continue scrutinising the government but to provide context when reporting on the pressures facing Nigerians.
He said the causes of those pressures, the progress being made and the work still outstanding should be presented together in the interest of an informed public and a stronger Nigeria.