The Federal Government says President Bola Tinubu’s economic reforms are yielding results, citing renewed investor confidence and the disbursement of ₦174bn to over 900,000 students nationwide
FG: Tinubu’s Reforms Paying Off as Investors Return, ₦174bn Student Loans Disbursed
The Federal Government has declared that President Bola Ahmed Tinubu’s far-reaching economic reforms—including the removal of petrol subsidy, foreign exchange unification, and the implementation of the 2026 tax laws—are beginning to yield measurable results, marked by renewed investor confidence and the disbursement of ₦174 billion in student loans.
The Minister of Information and National Orientation, Mohammed Idris, made the assertion on Saturday while delivering the 34th Convocation Lecture of the Federal University of Technology, Minna, titled “Youth and Nation Building: Navigating Opportunities in an Era of National Reforms.”
According to Idris, the Tinubu administration’s policies were deliberately bold and disruptive, aimed at breaking what he described as Nigeria’s long-standing cycle of “doing the same thing repeatedly while expecting different results.”
Contrary to fears that the reforms would drive multinational companies out of Nigeria, the minister said the opposite is now unfolding.
“The renewed attention of domestic and foreign investors, occasioned by these reforms, is opening up opportunities in every sector of the economy,” Idris said.
“Many firms that had previously considered exiting the Nigerian market are now making a U-turn, given the scale and steadiness of the stability we have seen in the last 18 months. Serious investors are paying attention and responding positively.”
He revealed that the Central Bank of Nigeria’s monthly Business Confidence Survey has recorded 13 consecutive months of expansion, describing it as a strong signal of economic recovery.
Idris also cited the recent visit of Shell Plc’s Chief Executive Officer, Wael Sawan, who reportedly acknowledged improvements in Nigeria’s investment climate and confirmed that the oil giant is positioning itself for long-term investment due to renewed stability.
Addressing public backlash over the newly implemented tax laws, which took effect on January 1, 2026, the minister dismissed reports of widespread hardship as exaggerated and misleading.
“In recent weeks, many salary earners have received higher take-home pay following implementation,” he said.
“The goal was never to take more from Nigerians but to simplify taxation and make it fairer and more transparent.”
On education financing, Idris described the National Education Loan Fund (NELFUND) as one of the clearest indicators of the administration’s Renewed Hope Agenda in action.
“Since its launch in May 2024, NELFUND has received nearly 1.5 million applications,” he disclosed.
“Over ₦174 billion has so far been disbursed as tuition fees and monthly upkeep allowances to more than 900,000 beneficiaries.”
The minister also issued a demographic warning, noting that Nigeria is projected to become the third most populous country in the world within 25 years, with an estimated population of 400 million—overtaking the United States.
He challenged graduating students to reject cynicism toward government programmes and instead seize emerging opportunities, referencing initiatives such as the 3 Million Technical Talents (3MTT) programme and the Nigerian Consumer Credit Corporation.
“Opportunities do not automatically transform lives unless they are sought, seized, and harnessed,” Idris warned.
“They are merely potential in raw form and of little use if left untapped.”
He urged young Nigerians to actively engage with ongoing reforms and deploy technology as a tool for empowerment rather than distraction, insisting that the success of the reforms ultimately depends on citizen participation.
