Tinubu’s reforms boosting investor confidence, says Information Minister

By Joseph Erunke

ABUJA — The Federal Government has said that the economic and governance reforms introduced by President Bola Ahmed Tinubu are strengthening global confidence in Nigeria and positioning the country for stronger trade and investment partnerships with key allies, particularly the United Kingdom.

The Minister of Information and National Orientation, Mohammed Idris, made the disclosure on Sunday in London during a world press conference ahead of the president’s official visit to the UK at the invitation of King Charles III.

According to the minister, the visit reflects the long-standing diplomatic and economic relationship between Nigeria and the UK and provides an opportunity for both countries to deepen collaboration in key sectors such as trade, security, climate action, education and technological innovation.

Idris said the administration’s reforms, implemented under the Renewed Hope Agenda, are designed to stabilise the economy, expand opportunities for citizens and create a predictable environment for investors.

Among the major policy measures highlighted were the removal of petrol subsidy and the unification of Nigeria’s multiple foreign exchange regimes, which he said were necessary steps to restore fiscal transparency and ensure long-term economic sustainability.

“These reforms are already yielding results and improving investor confidence across several sectors of the economy,” Idris said.

He disclosed that Nigeria has emerged as Africa’s leading destination for oil and gas investments for two consecutive years, attracting more than $8 billion in Final Investment Decisions from major international energy companies.

According to him, the investments are expected to generate employment opportunities, promote skills development, revitalise host communities and increase government revenues at all levels.

The minister also revealed that Nigeria is preparing to launch a Customs Single Window — a unified digital trade platform designed to connect trade agencies, importers and exporters, simplify documentation and enhance efficiency in international trade.

He further noted that Nigeria recently exited the grey list of the Financial Action Task Force (FATF) following reforms aimed at combating money laundering and illicit financial flows, a development he said would strengthen the country’s credibility in the global financial system.

Idris said reforms are also ongoing in the mining sector to eliminate speculative licence holding and ensure that only credible investors participate in the development of Nigeria’s mineral resources.

He added that early indicators suggest the government’s economic reforms are beginning to produce positive outcomes, noting that inflation has dropped significantly from its 2023 peak while the purchasing managers’ index of the Central Bank of Nigeria has recorded fifteen consecutive months of growth.

The minister said Nigeria’s external reserves had risen to more than $50 billion as of February 2026, with part of the reserves now held in gold as part of the country’s diversification strategy.

Idris also highlighted major infrastructure projects currently underway, including the Lagos–Calabar Coastal Highway, the Sokoto–Badagry Super Highway and the Ajaokuta–Kaduna–Kano Gas Pipeline, which he said are expected to improve economic connectivity and stimulate industrial development.

In the power sector, he pointed to initiatives such as the Presidential Power Initiative and the Presidential Metering Initiative, as well as the establishment of the Grid Asset Management Company, aimed at expanding electricity infrastructure and improving power supply nationwide.

The minister further noted that the administration is investing heavily in human capital development, revealing that the Nigerian Education Loan Fund has already enabled more than one million students to access higher education without upfront tuition payments.

On security, Idris said the government has strengthened intelligence sharing and operational coordination among security agencies to tackle terrorism, banditry and organised crime, while also deepening cooperation with international partners including the United Kingdom and the United States.

He added that the Nigerian Navy, ranked Africa’s strongest naval fleet in the 2026 Global Firepower Index, is spearheading the establishment of a Combined Maritime Task Force to enhance security in the Gulf of Guinea.

Idris reaffirmed Nigeria’s commitment to religious freedom, peaceful coexistence and national unity, stressing that the country’s diversity remains one of its greatest strengths.

He also reiterated Nigeria’s readiness to welcome responsible global investors, assuring that government policies support regulatory transparency, tax incentives and the full repatriation of profits.

“We value our enduring partnership with the United Kingdom and look forward to expanding cooperation that will benefit both nations,” the minister said.

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