At a time when Nigerians are struggling with financial difficulties, the Minister of Information and National Orientation, Mohammed Idris, has urged the citizens to exercise more patience, emphasising that the current struggles are part of a transition toward long-term prosperity. He made this call during a press conference in Abuja to mark the 64th Independence Anniversary of Nigeria. Senator George Akume, the Secretary to the Government of the Federation (SGF), led the event, which was centred around the theme “Reflecting on the Past, Inspiring the Future.”
Idris recognised many citizens’ struggles, attributing these challenges to global economic factors and President Bola Tinubu’s continuous reforms. Nevertheless, he reassured the citizens, emphasising optimism ahead as the nation begins its journey towards economic recovery and expansion. He observed that Tinubu’s administration had implemented innovative policies to correct earlier failures and establish a strong base for the nation to soon become a formidable economic powerhouse. The Minister emphasised the recent Supreme Court ruling empowering local government administrators. This decision ensures that local administrations possess direct financial control, which is anticipated to improve governance and enhance community development.
Both compressed natural gas and the oil and gas sector were emphasised.
Moving forward, he described this as an essential move to enhance accountability and efficiency in local governance, which has long affected national socio-economic advancement. In addition to local government autonomy, Idris addressed the current initiatives to strengthen the country’s economy. He emphasised the administration’s commitment to achieving macroeconomic stability by reforming the Tax system, making it more effective and alleviating the financial load on the citizens. At the same time, attention is being directed towards transforming the Oil and Gas Industry to attract new investment, diversify government revenues, and ensure the stability of the foreign currency framework. These initiatives are part of a plan to establish conditions that promote lasting development.
However, President Tinubu prioritises transitioning from fossil fuels to Compressed Natural Gas (CNG) as the nation’s main energy source for automobiles and machinery. Idris reports that the current implementation of CNG Infrastructure is delivering benefits, cutting transportation expenses for Nigerians by as much as 60 percent, generating employment opportunities, and attracting local and international investments. This initiative is a key element of the administration’s strategy to promote energy transformation, reduce reliance on fossil fuels, and establish the region as a leader in the global transition toward sustainable energy.
Funding increased due to the Nigerian Education Loan Fund.
Nigerians were praised for their support and progress in economic recovery. Furthermore, the minister expressed a positive outlook on increasing financial support for ordinary citizens. He emphasised programs like the recently launched Nigerian Education Loan Fund (NELFUND), designed to offer affordable and enduring loans for Higher Education following the Student Loans (Access to Higher Education) Act of 2024. In conjunction with this initiative, the creation of the Consumer Credit Corporation aims to provide affordable and adaptable credit options for consumers, promoting greater citizen involvement in the country’s expanding economy. While restoring the Economy has been difficult, Idris expressed gratitude to the people for their enduring patience and strength. He recognised the hardships along the way but assured everyone their efforts today would ultimately pay off.
Moreover, initial indicators of advancement are emerging, such as a second consecutive decrease in Inflation rates, enhanced military actions targeting bandits and criminals, and favourable feedback from recipients of business grants, student loans, and CNG vehicle modifications. He called on the people to stand together, underscoring the importance of common objectives and national principles. Following the recent approval of the National Values Charter by the Federal Executive Council, Idris announced that his Ministry would begin to implement the Charter in alignment with President Tinubu’s dedication to promoting a revival of moral, ethical, and cultural standards.
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He stated that the Charter aims to enhance national identity and citizens’ duties towards their homeland while solidifying the government’s commitments to its citizens. He further points out that despite the many challenges the country has faced since its independence in 1960, it has always emerged stronger. He expresses confidence that the country’s resilience, strength, and unity will continue to serve as the bedrock of its future success. Several key government officials attended the press conference, including Senator Atiku Bagudu, Minister of Budget and Economic Planning; Wale Edun, Finance and Coordinating Minister of the Economy; Senator Dave Umahi, Minister of Works; Prof. Joseph Utsev, Minister of Water Resources; Prof. Tahir Mamman, Minister of Education; Lola Ade-John, Minister of Tourism; and Zaphaniah Jisalo, Minister of Special Duties and Inter-Governmental Affairs.