Given the recurring downward trend of the Naira in the Foreign Exchange (Forex) market, the Federal Government has reassured Nigerians of its determination to introduce macroeconomic reforms to stabilize the situation.
On Saturday, during the 2024 Press Week organized by the Niger State Chapter of the Nigeria Union of Journalists (NUJ) in Minna, Minister of Information and National Orientation, Mohammed Idris, gave this assurance.
Idris highlighted the government’s determination to roll out reforms that will enhance economic growth, address inflation, mitigate the cost of living, and stabilize the foreign exchange.
Represented by the Director-General of the Voice of Nigeria, Mallam Jibrin Baba Ndace, the Minister highlighted that 2024 holds significant promise for Nigerians, as several initiatives of the administration are starting to yield positive results.
With confidence, he stated that 2024 holds promise for Nigeria, envisioning President Bola Tinubu’s policies within the Renewed Hope Agenda taking stronger roots for the growth of the nation’s economy.
“The Tinubu administration will continue to implement macroeconomic reforms to achieve broad economic objectives of sustained economic growth.
“The reforms will bring down inflation, ease the cost of living, stabilise foreign exchange and create jobs, among others,” he said.
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Against the context of fuel subsidy withdrawal, foreign exchange regime liberalization, and the anti-corruption campaign, Idris pointed out that the Tinubu government is steadfast in adhering to the rule of law.
He noted that the independence of institutions, including the judiciary, was evident in the recent court judgments.
The Minister clarified that the recent choice to relocate specific departments of the Central Bank of Nigeria (CBN) and the headquarters of the Federal Airports Authority of Nigeria (FAAN) to Lagos is a component of a comprehensive strategy to improve operational efficiency.
Stressing the intended outcomes, he explained that the decision serves to foster a responsive financial system and cut down on operational costs. Idris reiterated that the government’s directive is in line with global best practices and is not politically motivated, as inaccurately conveyed.
The Minister provided assurance that no policy implemented by the current administration would put any part of the country in a disadvantaged position.