OPENING REMARKS BY THE HONOURABLE MINISTER OF INFORMATION AND NATIONAL ORIENTATION, MOHAMMED IDRIS, FNIPR, AT A MEDIA CHAT WITH SENIOR EDITORS AND JOURNALISTS, AT THE RADIO HOUSE, ABUJA, ON MONDAY, OCTOBER 12, 2026
Distinguished senior journalists, editors, ladies and gentlemen.
Good afternoon, and thank you for honouring this invitation. It is a pleasure to welcome some of the most experienced voices in Nigerian journalism to this conversation. Your work informs public understanding, shapes national debate and strengthens accountability. I value this opportunity to engage you directly on the progress our country is making, the priorities before us and the determination of this Administration to deliver lasting improvements in the lives of Nigerians.
Nigeria is moving forward with renewed confidence. Under President Bola Ahmed Tinubu, we have taken bold decisions to address longstanding structural weaknesses, restore stability and lay a stronger foundation for sustained growth. These decisions are producing measurable results, and we are increasingly seeing the transition from economic reform to economic opportunity.
We recognise that many households continue to face cost-of-living pressures. That is precisely why the President remains focused not only on stabilising the economy, but also on making the benefits of recovery visible in the daily lives of our people. Our commitment is to ensure that stronger economic indicators translate into more jobs, more productive businesses, more affordable essential services and greater purchasing power for Nigerian families.
The progress is substantial, and the direction is clear. The reforms are strengthening our economic fundamentals, rebuilding confidence and creating the conditions for broader prosperity. We are determined to consolidate these gains and accelerate their impact across the country.
The macroeconomic numbers have turned the corner, and I would ask that we always look at what they mean beyond the headlines.
The economy is on course to grow by more than 4 per cent in 2026. Nigeria’s current account surplus was US$12.0 billion in the first half of 2026, up from US$8.6 billion in the first half of 2025. Inflation has fallen from about 27 per cent in January 2025 to around 15 per cent today, an encouraging improvement in the outlook for household budgets. Our ultimate target remains single-digit inflation.
Oil theft is down and production is up significantly, bringing more revenue to all three tiers of government. Our external reserves exceeded US$54 billion in September, the highest level in almost two decades. The foreign exchange market has stabilised, enabling businesses and investors to plan more confidently for the long term.
In 2025, Nigeria earned more than US$6 billion from non-oil exports, the highest in our history. Much of that money went to local businesses and entrepreneurs: agriculture, mining, petrochemicals, manufacturing, processing, transporters, logistics firms and many more across the country.
Our task now is to ensure that this clear macroeconomic recovery is felt even more widely in the lives and households of Nigerians: on the dinner table, in shops and markets, at the petrol station, and in pockets and wallets. I am pleased to say that work is already under way.
Every road project is money flowing to contractors, suppliers, engineers, artisans, transporters and food vendors. Once finished, it opens up communities, gets produce to market faster and raises the value of land. Our four Legacy Projects alone cover about 3,000 kilometres across all six geopolitical zones, and they are just four among hundreds of road, rail, port, power, health and education projects nationwide. The recently approved approximately ₦1.5 trillion highway project in Niger State will also strengthen connectivity across a vital agricultural and commercial corridor.
In agriculture, the President has placed food security at the centre of national economic policy. Support for mechanisation, improved access to inputs, irrigation development and agricultural financing is directed at increasing domestic production, improving farmers’ incomes and making food more affordable for Nigerian families.
In healthcare, the Federal Government has recently commissioned two additional cancer treatment centres, following the earlier commissioning of three. This brings the number of commissioned centres to five, as we work towards making a total of 10 available to Nigerians. Alongside the revitalisation of primary healthcare, these investments will expand access to treatment and strengthen our national health system.
The Presidential CNG and Electric Vehicle Initiative has so far attracted about US$2.5 billion in private investment, alongside about ₦250 billion in government funding and commitments. More than 120,000 vehicles have been converted. We now have over 400 certified conversion centres, more than 90 refuelling stations, and around 180 more in development. Each one brings jobs and new business to its host community.
The Nigerian Education Loan Fund (NELFUND) has now supported more than 1.6 million students, paying over ₦192 billion in fees and ₦180 billion in upkeep allowances. This is meaningful relief for students, parents and guardians who would otherwise struggle to meet the cost of higher education.
Through the Three Million Technical Talent programme, we are also expanding digital skills and opportunities for young Nigerians in software development, data science, cybersecurity and emerging technologies. Renewed attention to domestic refining, solid minerals, industrial production and innovation is supporting the broader ambition to diversify our economy and create sustainable employment.
We have issued a ₦758 billion bond to clear pension arrears inherited from as far back as 2007, benefiting almost one million pensioners. And we have issued ₦1.2 trillion in bonds to settle inherited debts owed to generation and gas companies, laying the foundation for new investments in the power sector.
Alongside these, the National Social Register is directing support to the households that need it most, currently reaching more than 10 million households, and the Consumer Credit Corporation is helping working Nigerians spread the cost of essential purchases.
My dear Colleagues,
Let me address another matter of fundamental importance to every Nigerian: national security.
President Bola Ahmed Tinubu has consistently maintained that the protection of lives and property is the first responsibility of government. His Administration has strengthened the operational capabilities of our Armed Forces, intelligence services and other security agencies through improved coordination, equipment, logistics and support for personnel on the frontlines.
Across several theatres of operation, security forces have recorded important successes against terrorists, bandits, kidnappers and other criminal elements. Terrorist commanders and criminal kingpins have been neutralised, insurgent networks disrupted, hostages rescued and criminal enclaves dismantled. In the Niger Delta, intensified operations against crude oil theft, illegal refining and pipeline vandalism have contributed to improved oil production and the protection of national revenues.
We are encouraged by efforts to restore access to communities and economic activities in areas affected by insecurity. At the same time, we are fully conscious that serious security challenges persist in parts of the country. Every incident of terrorism, banditry, kidnapping or communal violence is a matter of grave concern to the President and the Federal Government. We do not minimise the pain of affected families or the anxiety of communities still confronting these threats.
Let me assure Nigerians that the Federal Government will neither relent nor retreat in its determination to secure every part of our country. The President continues to demand results from the security leadership, and investments in personnel, technology, intelligence and operational capabilities are directed at achieving lasting security. The security of Nigerians is not negotiable. We will continue to protect vulnerable communities and work towards a country in which every citizen can live, travel, farm, trade and work in safety.
Nigeria is a federation of three tiers of government. Throughout his political career, President Bola Ahmed Tinubu has championed true federalism, and much of what he has done in the last three years has affirmed this. He has worked to strengthen States and Local Governments, financially and constitutionally, through bigger fiscal transfers, efforts to secure local government autonomy, proposals for State Police, and electricity reforms that empower States to invest in and regulate the sector.
He has been equally clear that the subnationals must step up. Many of the services that touch daily life most directly, from urban transport and schools to primary healthcare and waste management, sit with States and Local Governments.
Many States are rising to that responsibility. A recent World Bank report found that their combined capital expenditure rose by 151 per cent in real terms between 2023 and 2025, with significant increases in transport, education, healthcare and social investment. I encourage you to hold every tier of government to account for its own responsibilities.
Let me turn briefly to fuel prices, which I know are on everyone’s mind.
Rising energy costs are a global challenge, and governments across the world are adopting different approaches to protect their economies and cushion the impact on citizens. Nigeria is equally mindful of the pressures that higher energy costs place on households, businesses and the wider economy.
President Bola Ahmed Tinubu remains firmly committed to the economic reforms that are strengthening our country, while ensuring that the welfare of Nigerians remains paramount. Our approach is to consolidate the gains of these reforms, expand affordable energy alternatives, strengthen domestic production and create the conditions for sustainable reductions in the cost of living.
The President is fully conscious of the challenges Nigerians face, and his Administration remains determined to ensure that the benefits of economic recovery translate into greater affordability, improved purchasing power and better living conditions for our people.
When we look at the record of the last three years, the achievements of the Renewed Hope Agenda are evident across the Eight Presidential Priority Areas: reforming the economy for sustained and inclusive growth; strengthening national security; boosting agriculture and food security; unlocking energy and natural resources; expanding infrastructure and transportation; improving education, health and social investment; accelerating diversification through industrialisation, digitisation and innovation; and improving governance for effective service delivery.
These are not isolated achievements. They represent a deliberate and interconnected programme of national transformation. Economic reforms are restoring stability and confidence. Infrastructure investments are opening new opportunities. Agricultural initiatives are strengthening food production. Security operations are confronting threats to lives and livelihoods. Education and healthcare investments are expanding access to essential services. And governance reforms are strengthening the institutions upon which sustainable national development depends.
The Renewed Hope Agenda is delivering results. Its achievements are measurable, its impact is expanding, and its direction is unmistakable. There is certainly more work to be done, but there is equally substantial progress to build upon. The President’s determination is to consolidate these achievements and ensure that the dividends of reform and development reach every part of our country.
Finally, my dear colleagues, we are not asking you to stop scrutinising government. Your scrutiny makes us better. What I ask for is clarity and context: that the pressures Nigerians feel are reported alongside their causes, the progress being made and the work that remains. Our shared interest is an informed public and a stronger Nigeria.
I now look forward to your questions.
Thank you.
