Alhaji Mohammed Idris, the Minister of Information and National Orientation, claimed on Wednesday that Nigerians are starting to gain from President Bola Ahmed Tinubu’s policies.
During a ministerial press briefing in Abuja, the minister asserted that among the advantages were a GDP increase of 3.46% in the fourth quarter of 2023, compared to 2.54% in the third quarter of the same year.
Including a Share Index in Nigeria stock exchange, reaching its highest point ever in the fourth quarter of 2023, with a 66% increase in capital imports, which reversed a 36% decline in the third quarter. Additionally, oil imports decreased by 50% following the removal of fuel subsidies, and the President’s pragmatic reforms boosted investor confidence in the Nigerian economy.
The minister added that oil output increased from 1.22 million barrels per day in the second quarter of 2023 to 1.55 million barrels per day in the fourth quarter of 2023 as a result of Tinubu’s policies.
“The President has also given a directive for the design of a Social Security Unemployment Programme to cater for the unemployed graduates.
“This is in addition to setting up of a Social Consumer Credit Scheme to boost the purchasing power of Nigerians, as they make adjustments in view of the temporary economic hardship.
“As the government rejigs the National Social Investment Programme, the direct payments of N25,000 to 15 million households will resume immediately.
“The government is equally tackling insecurity headlong and more success stories are coming in on daily basis. Without any doubt, we are winning the war against insecurity.
“These are indeed testament to the bold initiatives taken by Mr. President to reflate the Nigerian economy and return it to the path of growth and sustainable development.
“Only two days ago, the President approved a revolutionary approach towards reducing the cost of governance through the implementation of the much-talked-about Oronsaye Report – 12 years after the report was submitted to the then President, Dr. Goodluck Jonathan.
“This is a clear demonstration of Mr. President’s unwavering commitment to fiscal prudence and responsible governance by championing a comprehensive review of the government‘s commissions, agencies, and parastatals.
“In recognition of the need to rationalise the size and scope of government, the President has taken decisive action to merge certain agencies and scrap others that are redundant or have outlived their usefulness.
“The merger of some agencies and parastatals and the scrapping of others are not decisions taken lightly.
“It followed careful consideration and strategic planning to ensure that essential services are not compromised and that the needs of our citizens are adequately addressed while putting the interests of the nation first and foremost.
“Through the implementation of Oronsaye’s Report, President Tinubu aims to achieve significant cost savings by eliminating duplication of functions, streamlining administrative processes, and optimizing resource allocation.
“This proactive approach will enable the government to operate more efficiently while maintaining the quality and delivery of services to the Nigerian people.
“It is worth noting that these measures are not undertaken in isolation but are part of a broader strategy to reform and modernize government institutions by leveraging technology, promoting innovation, and fostering a culture of performance and accountability across all sectors.
“It is equally important to stress that this reform requires sustained commitment from all stakeholders, including public officials, civil servants, the media, civil society, and the general public,” the minister stated.
