Tinubu’s Reforms Boosting Global Investor Confidence – Minister

The minister of Information and National Orientation, Mohammed Idris, has said that Nigeria’s ongoing economic and governance reforms under President Bola Tinubu are driving global confidence in the country, opening new avenues for trade, investment, and international cooperation.

The minister spoke on Sunday in London during a world press conference ahead of President Tinubu’s official visit to the United Kingdom at the invitation of King Charles III.

“This visit highlights the historic and strategic relationship between Nigeria and the United Kingdom, a partnership built on deep diplomatic, economic, cultural, and democratic ties,” Idris said.

He added that the visit provides an opportunity to deepen collaboration in key sectors, including trade and investment, security, climate action, education, and technological innovation.

Idris highlighted that Nigeria’s democracy has strengthened over more than two decades of uninterrupted governance, supported by vibrant institutions, an active civil society, and a dynamic media landscape.

He noted that the administration remains committed to ensuring democracy delivers tangible benefits to citizens through the Renewed Hope Agenda, which focuses on stabilising the economy, expanding opportunities, strengthening social protection, and investing in long-term national development.

The minister cited key reforms, including the removal of the petrol subsidy and the harmonisation of multiple foreign exchange regimes, as measures that have restored fiscal transparency, promoted economic sustainability, and enhanced investment predictability.

“These reforms, alongside presidential executive orders in the oil and gas sector, have made Nigeria Africa’s most attractive destination for oil and gas investment for two consecutive years, attracting over eight billion dollars in Final Investment Decisions from major international companies,” Idris said.

He also announced the forthcoming launch of a historic Customs Single Window, a digital platform connecting trade agencies, importers, and exporters to streamline documentation and improve efficiency in international trade.

Highlighting Nigeria’s strengthened financial credibility, Idris noted that the country recently exited the Financial Action Task Force grey list after implementing reforms to combat money laundering and illicit financial flows.

He added that reforms in the mining sector are promoting transparency and attracting serious investors.

The minister said early signs of economic recovery are already visible: inflation has halved since 2023, the trade surplus is expanding, the Central Bank’s Purchasing Managers’ Index has recorded fifteen consecutive months of growth, and external reserves have surpassed $50 billion, with a portion now held in gold.

Regarding security, Idris said intelligence sharing and operational coordination among security agencies have been strengthened to tackle terrorism, banditry, and organised crime.

He also highlighted the Nigerian Navy, ranked Africa’s strongest naval fleet, leading a Combined Maritime Task Force to secure the Gulf of Guinea.