ADVERTISEMENT

ADVERTISEMENT

Nigeria’s economic reform programme under President Bola

Tinubu is steadily moving the country away from a cycle of economic vulnerability toward a more stable and growth driven path.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this during a press briefing at the Spring Meetings of the World Bank and the International Monetary Fund in Washington D.C.

He explained that the policy measures introduced since mid 2023 were designed not as temporary fixes but as structural changes that can sustain themselves over time while strengthening the economy against external shocks.

Edun noted that the global environment in which the meetings are taking place remains highly uncertain, with export tensions, trade disruptions and tightening financial conditions continuing to weigh on economies across the world.

Within this context, he said Nigeria’s approach is anchored on credible and disciplined macroeconomic management aimed at building lasting prosperity.

According to him, key reforms including the move to a market reflective foreign exchange system and the deregulation of fuel pricing are beginning to restore balance and reduce long standing distortions in the economy.

He added that these measures are already improving Nigeria’s capacity to absorb shocks that originate from outside its borders.

On inflation, Edun acknowledged that pressures remain, largely driven by energy costs, food prices and logistics challenges. However, he pointed out that government is responding through targeted social protection programmes and ongoing agricultural interventions to cushion the impact on citizens.

The Minister stressed that fiscal discipline remains central to the reform effort, with a clear departure from inefficient subsidy regimes and a renewed focus on prudent resource management.

Providing an update on key indicators, Edun said economic growth has exceeded four per cent, external reserves have risen to about 50 billion dollars and inflation is beginning to ease gradually. He added that public debt remains within sustainable limits.

Beyond the numbers, he said the reforms are unlocking domestic production and restoring confidence within the private sector.

The Minister cited major investments such as the Dangote Refinery as tangible evidence of renewed investor confidence, while noting that small and medium enterprises are benefiting from improved incentives.

He stated that Nigeria is now moving from stabilisation to a phase of accelerated growth and job creation, with power, agriculture, infrastructure and digital innovation expected to drive expansion.

Edun also disclosed that development partners at the meetings reaffirmed their support for Nigeria’s reform priorities, while investor interest continues to grow across energy, agribusiness and infrastructure sectors.

According to him, Nigeria is also pushing for reforms at the global level to reduce the cost of capital for developing countries, which remains a major constraint to growth.

The Minister expressed confidence that the country’s standing in the global economy is improving as its reform efforts gain recognition, adding that the policies will ultimately deliver sustainable growth and reduce poverty.

He further commended members of the Nigerian delegation and reaffirmed the Federal Government’s commitment to attracting investment and strengthening development partnerships.

In the same vein, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, said the country remains firmly committed to sustaining reforms and preserving macroeconomic stability.

He explained that the meetings provided an opportunity to review Nigeria’s progress and reinforce institutional capacity needed to support long term economic resilience.

Cardoso noted that despite persistent global challenges, including geopolitical tensions and inflationary pressures, Nigeria has been able to contain external shocks through improved exchange rate stability and stronger reserves.

The Central Bank Governor emphasised that consistency in reform implementation is critical to building long term investor confidence.

Highlighting developments in the financial sector, he said the ongoing banking sector recapitalisation has mobilised 4.65 trillion naira in new capital.

As at the March 31 deadline, 33 banks had met the new capital requirements, significantly strengthening the resilience of the financial system and its ability to support economic growth.

He added that the exercise attracted strong participation from both domestic and international investors, reflecting sustained confidence in Nigeria’s banking sector.

Cardoso expressed optimism that continued reforms will reinforce stability, sustain growth and attract further investment into the economy.

ADVERTISEMENT

ADVERTISEMENT

Abuja, Nigeria – Organisers of the forthcoming public presentation of “Journalism NeXt: A Comprehensive Guide to Modern Journalism” have announced a distinguished lineup of eminent personalities expected to grace the book launch.

The book, authored by Editor of TheNewsGuru (TNG), Ediri Oyibo, is scheduled for official unveiling on Thursday, April 30, 2026, at the Secretariat of the Nigeria Union of Journalists (NUJ), FCT Council, Utako, Abuja at 2:00 pm.

Leading the list of dignitaries is the Governor of Delta State, Rt. Hon. (Elder) Sheriff Oborevwori, who will attend as Special Guest of Honour, while former Governor of Edo State and two-term Senator, Prof. Oserheimen Osunbor, will serve as Chairman of the Occasion.

The book will be reviewed by Dr. Lemmy Ughegbe, Founder and Executive Director of the Make A Difference Initiative (MADI).

The event will also feature the presentation of research findings by the author on the state of journalism in Nigeria, with a focus on challenges faced by journalists in the Federal Capital Territory (FCT).

Other dignitaries expected at the event include Senator Ede Dafinone, Delta Central, Senator Joel-Onowakpo Thomas, Delta South; Senator Ned Nwoko, Delta North; Hon. Benedict Etanabene, Member representing Okpe/Sapele/Uvwie Federal Constituency, and Mr. Mideno Bayagbon, Publisher of TheNewsGuru (TNG).

Others are Dr. Dili Ezughah, Executive Secretary and CEO, Nigerian Press Council (NPC); Dr. Aminu Maida, Executive Vice Chairman, Nigerian Communications Commission (NCC), and Comr. Alhassan Yahya Abdul, National President of the Nigeria Union of Journalists (NUJ), among others.

“Journalism NeXt: A Comprehensive Guide to Modern Journalism” explores the transformation of journalism in the digital era, addressing issues such as media ethics, innovation, sustainability, and the evolving role of journalists in a rapidly changing information ecosystem.

Organisers say the event is expected to attract journalists, media entrepreneurs, academics, policymakers, students, and members of the public, providing a platform for robust engagement and networking.

ADVERTISEMENT

ADVERTISEMENT

Delta State Governor, Sheriff Oborevwori, on Saturday received two honours at the Silver Jubilee Awards of Independent Newspapers, in what is described as a recognition of his administration’s performance, particularly in urban development.

The awards—Outstanding Independent Governor and Best Independent Governor in Urban Renewal (2025)—were presented at a ceremony held at Eko Hotels and Suites, as part of activities marking the organisation’s 25th anniversary.

The awards were determined through a combination of public voting and rigorous assessment by a jury and the organisation’s board, Managing Director and Editor-in-Chief of Independent Newspapers, Steve Omanufeme, said.

He congratulated the recipients and disclosed that further activities to mark the silver jubilee would continue later in the year.

The governor, who was represented by his deputy, Monday Onyeme, described the awards as a reflection of the administration’s impact since assuming office in 2023.

Speaking with journalists after the event, Onyeme said, “It is very evident to all Nigerians, especially Deltans, that our governor has significantly changed the narrative since assuming office in 2023.

“Today, he stands out as one of the best governors in the area of urban renewal. The impact is visible and undeniable.”

He pointed to ongoing infrastructure development across the state, noting that Delta, as one of Nigeria’s most urbanised states, has witnessed rapid transformation within a short period.

According to him, projects such as flyovers in Ughelli, Warri, Effurun, and Enerhen Junction have improved traffic flow while enhancing the functionality of major urban centres.

Onyeme also disclosed that the administration had delivered about 300 kilometres of roads in the past year, describing it as a major step towards addressing infrastructure deficits.

“When organisations carry out independent assessments and recognise this administration, it does not come as a surprise. The results speak for themselves,” he said.

He added that the recognition would serve as motivation for the government to sustain its development efforts.

“We have not rested, and we will not rest. We were elected to serve the people of Delta State, and we remain committed to that promise. The more responsibility we are given, the more we will deliver,” he said.

The deputy governor further noted that Oborevwori remained focused on leaving a lasting legacy, driven by what he described as a strong commitment to service.

“His desire is to ensure that before he leaves office after his second tenure, the difference will be clear and undeniable. He aims to set a standard that future administrations must strive to meet or surpass,” he added.