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Home Government Subsidy Removal Funds Reinvested into Economy Judiciously – FG
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Subsidy Removal Funds Reinvested into Economy Judiciously – FG

By
Rabiu Ibrahim
-
June 13, 2025
Mohammed Idris
Mohammed Idris

Subsidy Removal Funds Reinvested into Economy Judiciously – FG

As Nigeria marks 26 years since the return to democratic rule, the Minister of Information and National Orientation, Mohammed Idris, has reaffirmed the Federal Government’s commitment to rebuilding the nation’s economy, restoring investor confidence, and deepening democratic values.

In an exclusive interview with Forbes Africa to mark the Democracy Day celebration, the Minister defended President Tinubu’s bold reform agenda, which includes the removal of fuel subsidies and the unification of foreign exchange rates — two of the most significant policy shifts in Nigeria’s recent economic history.

 

“These were difficult decisions that had to be made,” the Minister told Forbes Africa. “They caused some turbulence, but like an aircraft taking off, we are now reaching stability. The World Bank has noted our return to growth levels not seen in over a decade.”

 

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The Minister said this year’s observance of the Democracy Day invited not just celebration, but sober reflection on the journey of democratic consolidation and economic renewal.

 

Idris explained that funds recovered from the fuel subsidy removal are being reinvested directly into critical infrastructure projects – including two expansive highway corridors that will span over 1,700 kilometres – aimed at unlocking economic activity and bridging regional divides.

 

“The aim is not just connectivity, but economic opportunity,” he said.

 

“Nigeria is really retracing its steps. It is becoming an important nation once again among the comity of nations. The respect that Nigeria used to have is now gradually returning. Investors have more confidence in our country,” Idris notes.

 

Idris reiterated that the reforms under President Tinubu’s Renewed Hope Agenda are not just about economic arithmetic, but about creating a new foundation for inclusive growth, accountability, and sustainable development.

 

Rabiu Ibrahim

Special Assistant (Media) to the Minister of Information and National Orientation.

June 13, 2025

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Police Operatives Eliminate 3 Bandits, Recover 10 AK-47 RiflesTinubu to Honours 210 Ex-NYSC Members for Meritorious ServicesPRNigeria Opens Application for 2025 Young Communication FellowshipNDLEA Arrests Chinese Businessman, 80-Year-Old Grandma in Nationwide Drug Raids IEDPU Praises CP Moshood Jimoh of Lagos Police for Exemplary LeadershipTroops Repel Boko Haram Attack in Gwoza, Recover FirearmsTroops Kill Three Terrorist Leaders in Sokoto Ambush, Recover WeaponsNavy Arrests 9 Impostors Operating as Fake Coast Guards in Akwa IbomArmy Dismisses Allegations of Delayed Promotions, Stagnant AllowancesCourt Remands TikToker Arrested by DSS for claiming President Tinubu diedDeath, you can’t be Proud of this By Abdulrahman Abdulraheem Tinubu Mourns Veteran State House Correspondent, Leon UsigbePolice Arrest 22 Cultists in OgunEnugu Police Raid IPOB/ESN Hideout, Nab 25 Militants, Recover FirearmsTroops Eliminate Notorious Bandit Kingpin ‘Dan Dari Biyar’ in Sokoto Operation
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