Nigeria: Reform Policies Have Attracted FDI, Reduced Inflation - Govt

23 May 2024

President Bola Tinubu has canceled an elaborate celebration outlined to usher in his first year in office and opted for a low-keyed outing, instead.

This is even as the Federal Government said President Bola Tinubu's administration has, within its first year in office, recorded significant strides in various sectors of the economy, attracting foreign direct investment, FDI, and reducing inflation.

Secretary to the Government of the Federation, Senator George Akume, announced the development at a media briefing attended by the Minister of Budget and Economic Planning, Alhaji Atiku Bagudu, Minister of Information and National Orientation, Alhaji Mohammed Idris, and FCT Minister of State, Dr. Mariya Mahmud.

Notwithstanding the hardship in the country, Akume boasted that the administration of Tinubu has remained calm and unwavering in rendering quality service to Nigerians through exemplary leadership.

He said: "Let me begin by admitting that the first year in office of Mr. President has been a testament of sorts and goes to show the unwavering commitment and resilience of this administration towards serving the Nigerian people with diligence, integrity and dedication.

"Despite the daunting challenges from all angles, President Tinubu has maintained his calm and demonstrated exemplary leadership qualities, thereby guiding our nation with vision and foresight.

"From the outset, President Tinubu's administration set forth an ambitious agenda focused on economic revitalization, social inclusion, and infrastructural development. Government has implemented significant economic reforms aimed at stabilizing our economy and fostering sustainable growth.

"Key among these is the introduction of policies that have attracted foreign direct investments, FDIs, reduced inflation, and boosted job creation across various sectors.

"Mr. President's commitment to enhancing our nation's infrastructure is also evident in the completion and ongoing execution of numerous projects, notable among which are the extensive road networks, improved rail systems, and the modernization of our ports, which are vital for boosting trade and connectivity.

"In the same vein, recognizing the importance of human capital development, the present Administration has made substantial investments in healthcare and education. The launch of new healthcare facilities and the upgrade of existing ones, along with reforms in our educational system, underscores Government's dedication to the wellbeing and future of our citizens.

"More importantly, ensuring the safety and security of all Nigerians remains a top priority of Government. It has therefore strengthened our security apparatus, enhanced intelligence gathering, and fostered greater collaboration among security agencies to address the multifaceted challenges of security across the country

"This administration has also rolled out several social intervention programs aimed at alleviating poverty and empowering the vulnerable segments of our society. These initiatives have provided financial assistance, skill acquisition opportunities, and improved access to essential services.

"I make bold to say that Nigeria, under its present stewardship, has witnessed significant policy strides in various sectors, including but not limited to the presidential accent to the 2023 Electricity Bill, a move that dismantled monopolistic control over electricity generation, transmission and distribution at the national level."

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