By Deji Abdulwahab
The Minister of Information and National Orientation, Alhaji Mohammed Idris, says President Bola Tinubu remains committed to making economic recovery tangible for Nigerians.
Idris stated this on Monday during a media chat with senior editors and journalists in Abuja, acknowledging persistent cost-of-living pressures on households.
He said the Tinubu administration had taken bold decisions to address structural weaknesses, restore economic stability and establish a stronger foundation for sustainable growth.
According to him, the decisions are yielding measurable results, with the country gradually transitioning from economic reforms to economic opportunities.
“We recognise that many households continue to face cost-of-living pressures.
“That is precisely why the President remains focused not only on stabilising the economy but also on making the benefits of recovery visible in the daily lives of our people.
“Our commitment is to ensure that stronger economic indicators translate into more jobs, more productive businesses, more affordable essential services and greater purchasing power for Nigerian families.
“The progress is substantial, and the direction is clear,” he said.
The minister added that the reforms were strengthening our economic fundamentals, rebuilding confidence and creating the conditions for broader prosperity.
He said the administration was determined to consolidate the gains and accelerate their impact nationwide.
“The macroeconomic numbers have turned the corner, and I would ask that we always look at what they mean beyond the headlines.
“The economy is on course to grow by more than 4 per cent in 2026. Nigeria’s current account surplus was 12.0 billion dollars in the first half of 2026, up from 8.6 billion dollars in the first half of 2025.
“Inflation has fallen from about 27 per cent in January 2025 to around 15 per cent today, an encouraging improvement in the outlook for household budgets.
“Our ultimate target remains single-digit inflation,” Idris said.
He said oil theft had declined significantly, while increased crude oil production was generating more revenue for the three tiers of government.
“Our external reserves exceeded 54 billion dollars in September, the highest level in almost two decades.
“The foreign exchange market has stabilised, enabling businesses and investors to plan more confidently for the long term.
“In 2025, Nigeria earned more than six billion dollars from non-oil exports, the highest in our history,” he said.
Idris said the earnings benefited local businesses and entrepreneurs across agriculture, mining, petrochemicals, manufacturing, processing, transportation and logistics.
“Our task now is to ensure that this clear macroeconomic recovery is felt even more widely in the lives and households of Nigerians: on the dinner table, in shops and markets, at the petrol station, and in pockets and wallets.
“I am pleased to say that work is already under way,” he said.
According to him, road projects generate income for contractors, suppliers, engineers, artisans, transporters and food vendors.
He said completed roads would open up communities, facilitate faster transportation of agricultural produce to markets and increase land values.
“Our four Legacy Projects alone cover about 3,000 kilometres across all six geopolitical zones, and they are just four among hundreds of road, rail, port, power, health and education projects nationwide.
“The recently approved approximately N1.5 trillion highway project in Niger State will also strengthen connectivity across a vital agricultural and commercial corridor,” he said.
On agriculture, the minister said the administration placed food security at the centre of national economic policy.
“Support for mechanisation, improved access to inputs, irrigation development and agricultural financing is directed at increasing domestic production, improving farmers’ incomes and making food more affordable for Nigerian families.”
In healthcare, he said the Federal Government recently inaugurated two additional cancer treatment centres, following the earlier commissioning of three.
“This brings the number of commissioned centres to five, as we work towards making a total of 10 available to Nigerians.
“Alongside the revitalisation of primary healthcare, these investments will expand access to treatment and strengthen our national health system,” Idris said.
He said the Presidential CNG and Electric Vehicle Initiative had attracted about 2.5 billion dollars in private investment, alongside approximately N250 billion in government funding and commitments.
“More than 120,000 vehicles have been converted.
“We now have over 400 certified conversion centres, more than 90 refuelling stations, and around 180 more in development. Each one brings jobs and new business to its host community,” he said.
The minister said that the Nigerian Education Loan Fund (NELFUND) has supported more than 1.6 million students, paying over N192 billion in fees and N180 billion in upkeep allowances.
“This is meaningful relief for students, parents and guardians who would otherwise struggle to meet the cost of higher education,” the minister said.
Idris said the Federal Government was also expanding digital skills and employment opportunities through the Three Million Technical Talent programme.
He said the initiative targeted young Nigerians seeking skills in software development, data science, cybersecurity and emerging technologies.
According to him, renewed attention to domestic refining, solid minerals, industrial production and innovation was supporting economic diversification and sustainable job creation.
The minister said the administration had issued a N758 billion bond to clear pension arrears inherited from as far back as 2007, benefiting almost one million pensioners.
He added that the government had issued N1.2 trillion in bonds to settle inherited debts owed to power generation and gas companies, laying the foundation for fresh investments in the electricity sector.
“Alongside these, the National Social Register is directing support to the households that need it most, currently reaching more than 10 million households.
“The Consumer Credit Corporation is also helping working Nigerians spread the cost of essential purchases,” he said.(NAN)
Edited by Rotimi Ijikanmi
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