President Tinubu Demands Ministerial Accountability, Highlights Major Achievements
President Bola Tinubu has mandated all ministers in his administration to present a detailed account of their work to Nigerians. This directive was announced by the Minister of Information and National Orientation, Mohammed Idris, during a news conference in Abuja yesterday.
Idris explained that the ministerial briefings are aimed at providing transparency, allowing Nigerians to understand the progress made by the government, as well as offering a platform for ministers to address questions from the public.
In a significant highlight, Idris shared that Nigeria’s military had made remarkable strides in improving national security throughout 2024. The military killed over 8,000 terrorists and apprehended more than 11,600 militants, bolstering peace efforts nationwide. The armed forces also rescued 8,000 kidnap victims and seized more than 10,000 weapons from non-state actors, contributing to enhanced stability in the country.
The briefing was designed to allow ministers to present their achievements and challenges in a bid to foster public confidence and raise awareness of the administration’s efforts. In this regard, Idris praised the Tinubu administration for its key successes in various sectors.
He highlighted notable accomplishments, including reforms in fiscal policies, oil and gas sectors, passport systems, and student loan support. A standout achievement was the introduction of the Electronic Foreign Exchange Matching System (EFEMS) in December, which brought unprecedented stability to Nigeria’s foreign exchange market, clearing billions of dollars in FX backlogs that had previously hindered foreign investments.
Idris also pointed to the success of fiscal policies, which have led to increased foreign exchange inflows and a thriving economy. He noted that capital inflow into the Nigerian Stock Exchange had surged from 4% in 2023 to an average of 16% by 2024. Additionally, the Naira reached an eight-month high in the official foreign exchange market last week.
The minister also lauded Nigeria’s oil and gas reforms, which have positioned the country as Africa’s most attractive destination for oil and gas investments. In 2024 alone, Nigeria secured over $5 billion in signed investment commitments, or Final Investment Decisions (FIDs).
In the education sector, Idris revealed that 169,000 Nigerian students benefited from a total of N32.8 billion disbursed through the Nigerian Education Loans Fund (NELFUND). Of this amount, N20 billion was allocated for school fees, while N12.8 billion covered students’ upkeep and allowances at 150 tertiary institutions nationwide.
Further emphasizing the administration’s commitment to energy independence, Idris stated that over 150 compressed natural gas (CNG) conversion centers have been established across the country. Through the Presidential CNG Initiative, the Tinubu Administration has invested over $450 million in Nigeria’s CNG value chain, reducing the nation’s reliance on petrol and gas.
