FG: Tinubu’s Reforms Boost Global Confidence, Strengthen Nigeria–UK Partnership

The Federal Government has said the economic and governance reforms introduced by President Bola Ahmed Tinubu’s administration are increasing global confidence in Nigeria while creating fresh opportunities for trade, investment, and international cooperation.

Minister of Information and National Orientation, Mohammed Idris, stated this on Sunday in London during a world press conference ahead of President Tinubu’s official visit to the United Kingdom at the invitation of King Charles III.

According to the minister, the visit reflects the long-standing and strategic relationship between Nigeria and the United Kingdom, built on strong diplomatic, economic, cultural, and democratic ties.

Idris said the engagement would provide both nations with an opportunity to expand collaboration in key sectors such as trade and investment, security, climate action, education, and technology.

He noted that Nigeria’s democratic system has continued to strengthen after more than two decades of uninterrupted civilian rule since 1999, supported by resilient institutions, active civil society groups, and a vibrant media landscape.

The minister explained that President Tinubu’s Renewed Hope Agenda is focused on ensuring that democratic governance translates into tangible benefits for Nigerians through economic stabilisation, expanded opportunities, stronger social protection systems, and sustainable national development.

Highlighting major policy decisions by the administration, Idris pointed to the removal of petrol subsidy and the unification of foreign exchange windows, describing them as critical reforms aimed at restoring fiscal transparency, improving economic sustainability, and boosting investor confidence.

He added that these reforms, along with a number of presidential executive orders in the oil and gas sector, have positioned Nigeria as 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 the investments would translate into employment opportunities, technical capacity development, community growth, and increased government revenue.

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

He further disclosed that Nigeria recently exited the Financial Action Task Force grey list following reforms aimed at tackling money laundering and illicit financial flows, a move expected to boost Nigeria’s credibility within the global financial system and improve the ease of doing business.

Idris added that reforms are also underway in the mining sector to promote transparency, discourage speculative licence ownership, and ensure that only credible investors participate in developing Nigeria’s mineral resources.

According to him, early indicators show positive outcomes from the reforms, with investor confidence rising across major sectors of the economy. He noted that inflation has reduced significantly since 2023, trade surplus continues to grow, and the Central Bank’s Purchasing Managers’ Index has recorded fifteen consecutive months of expansion, reflecting renewed activity in manufacturing and services.

The minister also revealed that Nigeria’s external reserves have risen above 50 billion dollars as of February 2026, with part of the reserves now held in gold as part of the government’s diversification strategy.

He highlighted ongoing infrastructure projects across the country, including the Lagos–Calabar Coastal Highway, the Sokoto–Badagry Super Highway, and the Ajaokuta–Kaduna–Kano Gas Pipeline, which are aimed at strengthening economic connectivity and supporting industrial growth.

In the power sector, Idris said initiatives such as the Presidential Power Initiative, the Presidential Metering Initiative, and the newly established Grid Asset Management Company are designed to improve electricity infrastructure and expand energy access nationwide.

The minister also stressed the administration’s commitment to human capital development, noting that the Nigerian Education Loan Fund has already enabled over one million students to access tertiary education without paying tuition upfront.

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

He added that the Nigerian Navy, ranked as Africa’s strongest naval fleet in the 2026 Global Firepower Index, is spearheading efforts to establish 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, noting that the country’s diversity remains one of its greatest strengths.

He also emphasised Nigeria’s active role in regional and global affairs through peacekeeping operations, diplomatic engagement, and collaboration on global challenges such as climate change, migration, and energy security.

The minister assured investors that Nigeria remains open to responsible global partners, with government policies supporting regulatory transparency, tax incentives, and the full repatriation of profits.

He added that Nigeria looks forward to strengthening its long-standing partnership with the United Kingdom in the years ahead.