Minister of Information and National Orientation, Muhammed Idris, has declared 2025 as a pivotal year of consolidation for President Bola Ahmed Tinubu’s administration, aimed at building upon the significant achievements recorded in the first 19 months of governance.
During a Ministerial Press Briefing held in Abuja, Minister Idris emphasized the importance of reflecting on these accomplishments as the administration approaches its mid-term, stating, “This inaugural briefing for 2025 serves as a reminder of our progress and the context in which these gains are being realized.”
The Minister outlined key areas of achievement under President Bola Ahmed Tinubu’s leadership, including:
Fiscal, Macroeconomic, and Legislative Reforms:
- Fuel Subsidy Removal: This strategic move has plugged financial leakages amounting to hundreds of billions of Naira annually.
- Foreign Exchange Transparency and Stability: The introduction of the Electronic Foreign Exchange Matching System (EFEMS) has led to unprecedented stability in the FX market, clearing billions of dollars in backlogs and boosting foreign investment. The Naira recently reached an eight-month high in the official market.
- Oil and Gas Reforms: In 2024, Nigeria became the most attractive destination for oil and gas investments in Africa, securing over $5 billion in Final Investment Decisions (FIDs).
- Electricity Act: The 2024 Electricity Act provides a framework for state governments to establish regulated electricity markets, following a constitutional amendment.
- Local Government Autonomy: A landmark Supreme Court ruling in July 2024 empowered local governments with unprecedented financial autonomy, with an Inter-Ministerial Committee established to ensure compliance.
Targeted Interventions:
- Students Loan Fund: Over 169,000 students have benefited from NELFUND, receiving N32.8 billion for school fees and upkeep.
- Regional Development: New Development Commissions have been established for the North-Central, South-East, and North-West regions, alongside the creation of a Federal University of Environmental Technology.
- Healthcare Initiatives: The Federal Executive Council recently approved $1.07 billion from the World Bank for health programs, including targeted subsidies for cancer patients.
- Passport Reforms: A backlog of over 200,000 international passports was cleared within three weeks in 2024.
- Compressed Natural Gas: An investment of over $450 million has been made to develop Nigeria’s CNG value chain.
Infrastructure Development:
Under President Tinubu’s leadership, Nigeria has become a hub of construction activity. Recent approvals from the Federal Executive Council include over 2.5 trillion Naira for various road projects, including:
- N1.334 trillion for the Lagos-Calabar Coastal Highway.
- N470.9 billion for access roads to the Second Niger Bridge.
- N195 billion for the Lagos-Ibadan Expressway reconstruction.
Defence and Security:
In 2024, security forces neutralized over 8,000 terrorists and bandits, rescued 8,000 kidnap victims, and established a Multi-Agency Anti-Kidnap Fusion Cell in collaboration with the UK’s National Crime Agency.
Food Security:
The establishment of a Ministry of Livestock Development aims to tap into a multi-billion-dollar agricultural opportunity, contributing to significant drops in grain prices.
2025 Budget Overview:
On December 18, 2024, President Tinubu presented a proposed budget of N49.7 trillion, later increased to N54.2 trillion due to additional revenue projections. The budget, termed the “Budget of Restoration,” prioritizes:
- Security: N4.91 trillion
- Infrastructure: N4.06 trillion
- Education: N3.52 trillion
- Health: N2.48 trillion
Minister Idris concluded by asserting that the bold initiatives of President Tinubu are fostering greater fiscal capacity, a reformed tax regime, and improved living standards for Nigerians through various support programs.
“We are witnessing a transformative era, where hope is being renewed for all Nigerians, regardless of age or gender, across the nation,” he added