by mercy Peter
The Minister of Information and National Orientation, Mohammed Idris, on Thursday listed the gains of Nigeria’s ongoing economic reforms at an international audience at the Nigeria Business Forum in Paris.
This was disclosed In a statement issued by his media aide, Rabiu Ibrahim.
The Minister, according to Ibrahim, described the reform’s efforts as “unprecedented,” saying that they are laying the foundation for a more competitive, transparent, and investor-friendly economy.
Mohammed, while Speaking at the Paris Business forum organized by Business France, which attracted over 200 French companies, also reaffirmed Nigeria’s commitment to strengthening economic ties with France.
The statement noted that Mohammed urged French investors to tap into the emerging opportunities in Nigeria’s transforming economic landscape, assuring them of the government’s commitment to creating a secure and enabling environment for business.
“These historic reforms are building a more competitive, transparent, and investor-friendly economy, positioning Nigeria as the gateway to Africa’s booming consumer market under the African Continental Free Trade Area (AfCFTA),” the statement read in part.
“Among the key reforms highlighted were the unification and stabilization of the foreign exchange regime, phasing out of fuel subsidies to curb leakages, and boost development funding and cost-reflective electricity tariffs to ensure sustainability.
“Others include tax reforms to promote transparency and ease of doing business, legislative and fiscal measures to support private-sector-led growth, trade facilitation through the National Single Window, and digital reforms, including Immigration and border policy reforms to streamline movement and trade.
“Minister Idris underscored Nigeria’s unique investment appeal: Africa’s largest economy, a population exceeding 220 million — over 70% of whom are under the age of 35 — and more than 26 years of uninterrupted democratic governance, fostering political stability and institutional continuity.
“He assured investors of a well-regulated, rule-of-law-based economy, supported by strong institutions such as the Central Bank of Nigeria (CBN), the Nigerian Investment Promotion Commission (NIPC), the Securities and Exchange Commission (SEC), and the Federal Competition and Consumer Protection Commission (FCCPC).
“The government is acting as a catalyst for private sector growth through strategic initiatives like the Renewed Hope Infrastructure Development Fund (RHIDF), the Nigerian Consumer Credit Corporation (CrediCorp), the Presidential CNG Initiative, the MOFI Real Estate Investment Fund (MREIF), and several others.
“These initiatives are laying the foundation for leveraging trillions of naira in private sector investments across infrastructure, consumer credit, healthcare, real estate, and beyond.
“The Minister also highlighted the expansion of Nigerian banks into Europe, including new offices in Paris, and projected increased Nigerian presence in France across creative industries, media, and technology.
Idris also invited French companies, particularly in agribusiness, to explore new opportunities in Nigeria’s livestock sector, where the newly established Ministry for Livestock Development presents fresh avenues for partnership.
“Reaffirming Nigeria’s unwavering reform agenda, Idris echoed President Tinubu’s message during his 2024 visit to France: “We must brace up for the future with commitment and optimism and with the courage of our founding fathers.”He added.
