The Minister of Information and National Orientation, Mohammed Idris, has reaffirmed the Federal Government’s commitment to reducing food prices through increased agricultural production. Speaking at the 2025 Ministerial Briefing Session in Abuja, Idris emphasized that the government will not impose price controls but will focus on boosting supply to lower costs.
He explained that although commodity boards once regulated prices, the government now prioritizes free-market principles to encourage entrepreneurship in agriculture. According to Idris, ensuring food abundance will naturally lead to reduced prices, as dictated by supply and demand dynamics.
Addressing national security, Idris highlighted the successes of security forces in 2024, revealing that over 8,000 terrorists and bandits were neutralized, 11,600 arrested, and more than 10,000 weapons recovered. The Minister assured that ongoing security efforts are making highways safer, citing improvements on the previously notorious Abuja-Kaduna highway. Additionally, he reported the successful rescue of 8,000 kidnapped victims and reaffirmed the government’s determination to combat insurgency, particularly with the recent designation of the Lakurawa armed group as a terrorist organization.
On the economic front, Idris noted significant improvements resulting from government reforms. The removal of fuel subsidies has saved billions, while the Electronic Foreign Exchange Matching System (EFEMS), introduced in December 2023, has improved transaction transparency and restored investor confidence. The Naira recently hit an eight-month high, and foreign capital inflow into the Nigerian Stock Exchange rose from 4% in mid-2023 to 16% by the end of 2024. Additionally, Nigeria secured over $5 billion in Final Investment Decisions (FIDs) in the oil and gas sector, positioning the country as Africa’s top investment destination.
Looking ahead, Idris described 2025 as a year of consolidation, with the government building on achievements from the first 19 months of President Bola Ahmed Tinubu’s administration. In preparation for the administration’s second anniversary, ministers will hold weekly briefings to highlight progress across various sectors and outline future plans.
Join Our Telegram Channel For Instant Notification
