FG ENACTING MEASURES TO PROMOTE ECONOMIC GROWTH AND STABILIZE THE FOREX — MINISTER

As part of larger goals to boost economic growth, the Tinubu administration is committed to implementing macroeconomic reforms aimed at lowering inflation, easing the cost of living, and stabilizing the FX, according to Minister of Information and National Orientation Mohammed Idris.

2024 Press Week of the Niger State Chapter of the Nigeria Union of Journalists (NUJ), the Minister made this statement on Saturday in Minna, Niger State.

The Minister stated that 2024 promises great opportunities for Nigerians and ambitious projects start to pay off, on behalf of Mallam Jibrin Baba Ndace, Director General of the Voice of Nigeria. Permit me, distinguished guests, to use this sacred platform as the chief spokesperson for the Federal Government of Nigeria to inform Nigerians on this early and auspicious day of the year that 2024 will be a great year for Nigeria as President Bola Ahmed Tinubu's policies under the Renewed Hope Agenda take stronger root for the growth of our country's national security, economic development, and human resources.

“To achieve broad sustained economic growth aimed at lowering inflation, easing the cost of living, stabilizing FX, and job creation, among others, the Tinubu administration will continue to implement macroeconomic reforms,” he declared.

Idris stated that the rule of law and the independence of institutions as seen by the recent court rulings, especially the removal of fuel subsidies, the liberalization of the foreign currency regulation, and the campaign against corruption.

The Federal Government's recent decision to move the Federal Airports Authority of Nigeria (FAAN) headquarters and a few departments of the Central Bank of Nigeria (CBN) to Lagos is a part of a larger plan to reduce operating costs, improve operational efficiency, and streamline procedures in order to guarantee a responsive financial system for Nigeria. He stressed that the government's instruction is in line with international best practices and is not at all motivated by politics or misinformation. The Minister promised that no current administration policy will prejudice any region of the nation.

“No policy implemented by President Bola Ahmed Tinubu's administration will harm any region because of his dedication to justice and equitable development, which is stated in his oath of office. His initiatives, which are founded on the ideas of justice and equality, demonstrate his commitment to promoting inclusion and national unity,” he stated.

The Minister claimed that false news is a hydra-headed threat that is destroying the media landscape. He also used the occasion to ask for media help in the fight against fake news. “My dear colleagues, we must rise up against the elements of fake news that are intentionally created to mislead the people of Nigeria,” he declared. In addition, Idris informed the assembly that the National Values Charter, which aims to instill values in the populace, would soon be fully revealed by the Federal Government.

“Among other things, the reforms will reduce inflation, ease living expenses, stabilize foreign exchange, and create jobs,” he stated.

Idris stated the Tinubu administration is upholding the rule of law in light of the elimination of fuel subsidies, the liberalization of the foreign exchange policy, and the campaign against corruption.

He claimed that recent court rulings proved the independence of many institutions, including the judiciary.

In addition, he said that the move will save operating expenses and provide a flexible financial structure. The Minister guaranteed that no current administration policy will prejudice any region of the nation.