Onyekachi Eze 
The Minister of Information and National Orientation, Alhaji Mohammed Idris has said the reform programmes of President Bola Tinubu have started yielding dividends.
Alhaji Idris who spoke at the third edition of the ministerial press briefing disclosed that the nation’s gross domestic product (GDP), recorded a growth of 3.46 per cent in the fourth quarter of 2023 as against 2.54 percent recorded in the third quarter of that same year.
The minister added that capital importation rose to 66 percent in the fourth quarter of 2023, reversing a 36 percent decline in the third quarter.
According to him, “Petrol importation has been reduced by 50 percent since the withdrawal of the fuel subsidy.
“The Nigerian Stock Exchange All Share Index crossed the 100,000 mark – its highest ever, mainly due to the pragmatic reforms initiated by the president, which inspired investor confidence in the Nigerian economy.
“It is also encouraging to state that oil production has risen from 1.22 million barrels per day in the second quarter of 2023 to 1.55 million barrels per day in the fourth quarter of 2023.”
The minister further disclosed that President Tinubu has also given a directive for the design of a Social Security Unemployment Programme to cater to unemployed graduates.
“This is in addition to setting up a Social Consumer Credit Scheme to boost the purchasing power of Nigerians, as they make adjustments in view of the temporary economic hardship.
“As the government rejigs the National Social Investment Programme, the direct payments to N25,000 to 12 million households will resume immediately,” he assured.
He stated that the Federal Government is tackling the spate of insecurity in the country, and noted that some success stories were being recorded on a daily basis.
“Without any doubt, we are winning the war against insecurity,” the minister asserted, adding that these were testament to the bold initiatives taken by Tinubu to reflate the Nigerian economy and return it to the path of growth and sustainable development.
According to him, the planned implementation of Steve Oronsaye’s report by the administration was a clear demonstration of Tinubu’s commitment to fiscal prudence and responsible governance.
“In recognition of the need to rationalise the size and scope of government, the president has taken decisive action to merge certain agencies and scrap others that are redundant or have outlived their usefulness.
“The merger of some agencies and parastatals and the scrapping of others are not decisions taken lightly.
“It followed careful consideration and strategic planning to ensure that essential services are not compromised and that the needs of our citizens are adequately addressed while putting the interests of the nation first and foremost,” he added.
