The Federal Government says ongoing reforms under President Bola Tinubu are boosting global confidence in Nigeria and strengthening economic and diplomatic ties with the United Kingdom.
The Federal Government has said that ongoing reforms under the administration of Bola Ahmed Tinubu are strengthening global confidence in Nigeria and opening new opportunities for trade, investment and international cooperation.
Mohammed Idris, Minister of Information and National Orientation, stated this on Sunday in London during a world press conference ahead of President Tinubu’s official visit to the United Kingdom at the invitation of King Charles III.
Idris said the visit highlights the historic relationship between Nigeria and the United Kingdom, built on decades of diplomatic, economic and cultural ties.
According to him, the engagement will deepen collaboration in critical sectors such as trade and investment, security cooperation, climate action, education and technological innovation.
He added that Nigeria’s democracy has continued to strengthen after more than two decades of uninterrupted civilian rule since 1999, supported by vibrant institutions, an active civil society and a dynamic media environment.
The minister said the Tinubu administration’s Renewed Hope Agenda focuses on stabilising the economy, expanding opportunities and strengthening social protection programmes.
He highlighted key reforms including the removal of petrol subsidy and the harmonisation of foreign exchange regimes, describing them as measures aimed at restoring fiscal transparency and improving investment predictability.
According to Idris, these reforms have helped position Nigeria as one of Africa’s most attractive destinations for oil and gas investments, attracting more than eight billion dollars in Final Investment Decisions from major international companies.
The government also plans to introduce a Customs Single Window, a unified digital platform designed to connect trade agencies, importers and exporters to streamline documentation processes and improve efficiency in international trade.
Idris further disclosed that Nigeria recently exited the Financial Action Task Force grey list after implementing reforms to combat money laundering and illicit financial flows.
He said the development has strengthened Nigeria’s credibility within the global financial system and improved the ease of doing business.
The minister noted that early results of the reforms are already emerging, citing improvements in investor confidence across several sectors.
According to him, inflation has declined since 2023, trade surplus is expanding and the Central Bank of Nigeria Purchasing Managers’ Index has recorded fifteen consecutive months of growth, reflecting renewed momentum in the manufacturing and services sectors.
He also revealed that Nigeria’s external reserves have surpassed 50 billion dollars as of February 2026, with part of the reserves now held in gold as part of the country’s diversification strategy.
Idris highlighted major infrastructure projects underway across the country, including the Lagos–Calabar Coastal Highway, the Sokoto–Badagry Super Highway, and the Ajaokuta–Kaduna–Kano Gas Pipeline.
He said these projects are expected to improve economic connectivity, support industrial expansion and strengthen long-term national development.
In the power sector, he noted that initiatives such as the Presidential Power Initiative, Presidential Metering Initiative, and the newly established Grid Asset Management Company are aimed at improving electricity infrastructure and expanding energy access nationwide.
On security, the minister said the government has intensified intelligence sharing and coordination among security agencies to combat terrorism, banditry and organised crime.
He added that Nigeria is also expanding cooperation with international partners, including the United Kingdom and the United States, to strengthen security and regional stability.
Idris further noted that Nigeria’s Navy, ranked among the strongest naval forces in Africa in the Global Firepower Index, is leading efforts to establish a Combined Maritime Task Force to enhance security in the Gulf of Guinea.
The minister reaffirmed Nigeria’s commitment to religious freedom, peaceful coexistence and national unity, describing the country’s diversity as one of its greatest strengths.
He also assured international investors that Nigeria remains open for business, with policies supporting regulatory transparency, tax incentives and full repatriation of profits.
“We deeply value our long-standing partnership with the United Kingdom and look forward to strengthening collaboration in the years ahead,” Idris said.
Visit GMTNewsng for more news stories.
