FG Implementing Policies To Stabilise Forex, Says Minister

Federal government has said President Bola Tinubu administration is committed to implementing macroeconomic reforms aimed at curbing inflation, easing the cost of living and stabilising the foreign exchange, as part of broader objectives of boosting economic growth.

Minister of information and national orientation, Mohammed Idris, stated this yesterday in Minna, Niger State at the 2024 Press Week of the Niger State Chapter of the Nigeria Union of Journalists (NUJ).

Represented by the director-general of the Voice of Nigeria, Mallam Jibrin Baba Ndace, Idris said, the year 2024 holds a lot of prospects for Nigerians as some of the promising initiatives of the administration begin to bear fruits.

“Permit me, distinguished invited guests, as chief spokesperson of the Federal Government of Nigeria, to use this hallowed platform to tell Nigerians, this early and auspicious time of the year, that 2024 would be a great year for Nigeria as the policies of Tinubu under the Renewed Hope Agenda take firmer roots for the growth of our nation’s economic development, our invaluable human assets, and national security.

“The Tinubu administration will continue to implement macroeconomic reforms to achieve broad economic objectives of sustained economic growth aimed at bringing down inflation, easing the cost of living, stabilising foreign exchange and job creation among others,” he said.

Idris said, against the backdrop of the withdrawal of fuel subsidy, liberalising the foreign exchange regime, and the fight against corruption, the Tinubu government is showing fidelity to the rule of law and the independence of institutions as demonstrated in the recent judgements of the courts.

He stressed that the recent federal government decision to relocate certain departments of the Central Bank of Nigeria (CBN) and the headquarters of Federal Airports Authority of Nigeria (FAAN) to Lagos is part of a broader strategy to enhance operational efficiency, streamline processes and ensure a responsive financial system for Nigeria, and cut operations cost.

He emphasised that the government’s directive aligns with global best practices and has no political motivation whatsoever as wrongly propagated.

He assured that no policy of the present administration would put any part of the country in a disadvantageous position.

“President Bola Ahmed Tinubu’s commitment to fairness and equitable development, as outlined in his oath of office, ensures that no policy under his administration will disadvantage any region.

“His dedication to fostering national unity and inclusivity is reflected in policies guided by principles of fairness and equality,” he said.

He used the occasion to enlist the support of the media in the fight against fake news, saying the hydra-headed menace of fake news is ravaging the media space.

“My dear colleagues we need to rise against the elements of fake news that are deliberately designed to misinform Nigerians,” he said.