The Minister of Information and National Orientation, Mohammed Idris, has lauded the transformative economic policies of President Bola Ahmed Tinubu’s administration, describing 2024 as a landmark year in Nigeria’s journey toward economic renewal and institutional development. Speaking in Abuja, the Minister highlighted key achievements that reflect the administration’s commitment to improving the lives of Nigerians and positioning the country for sustainable growth.
“2024 has been a year of bold reforms and remarkable achievements,” Idris stated. “President Tinubu’s vision for a transformed Nigeria is manifesting through policies that empower citizens and create opportunities for growth. Despite the challenges, the strides we have made this year are setting the stage for a brighter future.”
One of the standout achievements, according to Idris, is the introduction of the Students Loan Fund, which has provided financial assistance to over 300,000 tertiary-level students within its first year. “This initiative is a game-changer, offering long-term, low-interest loans that enable students to pursue their academic ambitions without undue financial strain,” he said.
The Minister also underscored the impact of the Consumer Credit Corporation, which is providing affordable financing to Nigerian workers. “Every developed nation thrives on a robust credit system. With this initiative, Nigerians can now afford life’s necessities, spurring consumer spending and economic growth,” Idris remarked.
Idris further highlighted the groundbreaking 2024 Electricity Act, which empowers state governments to regulate electricity markets. “This is a testament to the administration’s commitment to true federalism. By decentralizing electricity regulation, we are enabling states to attract investments and provide reliable power to more Nigerians,” he said.
The Minister celebrated President Tinubu’s efforts to enhance local government autonomy, citing the Supreme Court’s landmark ruling that granted financial independence to local councils.
He commended the administration for ensuring the implementation of this ruling through an Inter-Ministerial Committee. “This move is already triggering a surge in revenue at all levels of government, with ₦1.727 trillion shared among the federal, state, and local governments in the last FAAC meeting,” Idris noted.
The Minister also pointed to the resurgence of investor confidence in Nigeria’s energy sector, highlighted by the final investment decisions on the $5 billion Bonga North offshore oil project and the Ubeta gas project. “These investments are clear indications that President Tinubu’s policies are attracting global interest and restoring faith in Nigeria as a viable destination for energy investments,” Idris stated.
On security, Idris commended the significant progress made by Nigeria’s security forces in neutralizing over 8,000 terrorists and rescuing more than 8,000 kidnap victims. “The safety and security of Nigerians remain a top priority for this administration,” he said.
Idris also reflected on Nigeria’s strengthened global standing, citing partnerships with global powers like India, Germany, and France and Nigeria’s continued participation in the G20 Summit. “Nigeria’s role on the world stage has never been more pronounced, and this is a direct result of President Tinubu’s proactive foreign policies,” he affirmed.
As the country prepares for 2025, the Minister assured Nigerians that the administration remains committed to delivering on its promises. “The sacrifices Nigerians have made this year will not be in vain. Under President Tinubu’s leadership, we are building a nation where every citizen can thrive, regardless of their location,” Idris explained.
