BY GODWIN OBI
The Federal Government has said that the economic reforms introduced by President Bola Ahmed Tinubu, including the removal of petrol subsidy, foreign exchange unification and the implementation of the 2026 tax laws, are yielding positive results, citing renewed investor confidence and the successful disbursement of ₦174 billion in student loans.
The Minister of Information and National Orientation, Mohammed Idris, made the assertion on Saturday while delivering the 34th Convocation Lecture of the Federal University of Technology, Minna. The lecture was titled “Youth and Nation Building: Navigating Opportunities in an Era of National Reforms.”
Idris said the administration’s reforms, though bold, were necessary to reset Nigeria’s economic framework and break away from policies that failed to deliver sustainable growth.
According to him, fears that multinational companies would exit Nigeria following the reforms have proven unfounded, as many foreign and domestic investors are now renewing interest in the country.
“The renewed attention of domestic and foreign investors, occasioned by these reforms, is opening up opportunities across every sector of the economy,” he said.
“Several firms that once considered leaving Nigeria are now making a U-turn, driven by the stability achieved over the last 18 months. Serious investors are paying attention and responding positively.”
The minister disclosed that the Central Bank of Nigeria’s monthly Business Confidence Survey has recorded 13 consecutive months of expansion. He also referenced a recent visit by Shell Plc’s Chief Executive Officer, Wael Sawan, who acknowledged improvements in Nigeria’s investment climate and reaffirmed the company’s long-term commitment to the country.
Addressing concerns over the newly implemented tax laws, which took effect on January 1, 2026, Idris dismissed reports of adverse effects as misleading.
He noted that many workers had recorded increased take-home pay following the reforms, stressing that the objective was not to impose additional burdens but to simplify taxation and improve transparency.
“The goal was never to take more from Nigerians, but to make taxation fairer, simpler and more efficient,” he said.
On education, Idris revealed that the National Education Loan Fund (NELFUND) has received nearly 1.5 million applications since its launch in May 2024.
He said over ₦174 billion had so far been disbursed as tuition fees and monthly upkeep allowances to more than 900,000 beneficiaries, describing the programme as a key pillar of the administration’s Renewed Hope Agenda.
The minister also highlighted Nigeria’s demographic trajectory, projecting that the country would become the world’s third most populous nation within the next 25 years, with an estimated population of 400 million.
He urged graduating students to reject cynicism toward government programmes, citing initiatives such as the 3 Million Technical Talents (3MTT) programme and the Nigerian Consumer Credit Corporation as platforms for youth empowerment.
“Opportunities do not transform lives unless they are actively pursued and harnessed. They remain potential if left untapped,” Idris said.
He encouraged graduates to engage constructively with ongoing reforms and leverage technology for empowerment and innovation rather than distraction.
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2026-01-31