The Federal Government of Nigeria has said that the economic and governance reforms introduced by President Bola Tinubu are boosting global confidence in the country, while opening new opportunities for trade, investment, and international partnerships.
The minister of information and national orientation, Mohammed Idris, made this disclosure during a world press conference in London 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,” the minister said.
Idris noted that the visit provides an opportunity to deepen collaboration between both countries in key sectors, including trade and investment, security cooperation, climate action, education, and technological innovation.
He explained that Nigeria’s democracy continues to strengthen after more than two decades of uninterrupted governance since 1999, supported by vibrant institutions, an active civil society, and a dynamic media environment.
According to the minister, the administration of President Tinubu is committed to ensuring that 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.
Idris highlighted several landmark reforms undertaken by the government, including the removal of the petrol subsidy and the harmonisation of multiple foreign exchange regimes—measures designed to restore fiscal transparency, promote economic sustainability, and improve investment predictability.
“These reforms, alongside a series of 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.
“Each of these investment dollars represents jobs for Nigerians, technical skills development, revitalised communities, and stronger revenues for governments at all levels.”
The minister also announced that Nigeria will soon launch a historic Customs Single Window, a unified digital platform connecting trade agencies, importers, and exporters to streamline documentation and significantly improve efficiency in international trade.
He further disclosed that Nigeria recently exited the Financial Action Task Force grey list after implementing reforms to combat money laundering and illicit financial flows, a development that strengthens the country’s credibility in the global financial system and enhances the ease of doing business.
Idris added that the government is reforming the mining sector to promote transparency, eliminate speculative licence holding, and ensure that only serious investors participate in the development of Nigeria’s mineral resources.
According to the minister, early signs of progress from the economic reforms are already visible, with investor confidence improving across key sectors of the economy.
“Inflation has halved since 2023, the trade surplus is expanding, and the Central Bank’s Purchasing Managers’ Index has recorded fifteen consecutive months of growth, reflecting renewed momentum in Nigeria’s manufacturing and services sectors,” he said.
He further revealed that Nigeria’s external reserves have strengthened significantly, surpassing the 50-billion-dollar mark as of February 2026, with part of the reserves now held in gold as part of the country’s diversification strategy.
The minister also highlighted major infrastructure investments currently underway across the country, including the Lagos–Calabar Coastal Highway, the Sokoto–Badagry Super Highway, and the Ajaokuta–Kaduna–Kano Gas Pipeline—all designed to improve economic connectivity and strengthen industrial growth.
In the power sector, Idris noted that initiatives such as the Presidential Power Initiative, Presidential Metering Initiative, and the newly- created Grid Asset Management Company form part of broader efforts to expand electricity infrastructure and improve energy access nationwide.
The minister said the administration is also prioritising human capital development, noting that the Nigerian Education Loan Fund has enabled more than one million students to access higher education without the burden of upfront tuition payments.
On security, Idris stated that the government has strengthened intelligence sharing and operational coordination among security agencies to confront terrorism, banditry, and organised crime, while also expanding cooperation with international partners, including the United Kingdom and the United States.
He highlighted that Nigeria’s Navy, recognised as Africa’s strongest naval fleet according to the 2026 Global Firepower Index, is leading the establishment of a Combined Maritime Task Force to secure the Gulf of Guinea.
The minister reaffirmed Nigeria’s commitment to religious freedom, peaceful coexistence, and national unity, emphasising that the country’s diversity remains one of its greatest strengths.
Idris also stressed that Nigeria continues to play a leading role in regional and global affairs, contributing to peacekeeping operations, regional diplomacy, and international cooperation in addressing shared challenges such as climate change, migration, and energy security.
He concluded by reaffirming Nigeria’s openness to responsible global investors, assuring that government policies support regulatory transparency, tax incentives, and full repatriation of profits.
“We deeply value our long-standing partnership with the United Kingdom and look forward to strengthening collaboration in the years ahead,” he added.
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