By Hagxy Don
The Federal Government has reiterated its commitment to reducing food prices through strategic investments in agriculture, rather than imposing artificial price controls. Minister of Information and National Orientation, Mohammed Idris, made this declaration during a press briefing in Abuja on Tuesday, marking the commencement of the 2025 Ministerial Briefing Session.
According to Idris, the government is focused on increasing food supply through large-scale agricultural production, ensuring that market forces drive prices downward naturally. He noted that past commodity boards, which fixed prices, were abandoned in favor of a free-market system that encourages private sector growth within the agricultural value chain.
"Once there is an abundance of food items, prices will drop automatically. That is why the government is aggressively investing in boosting food production," Idris stated.
Security Gains: Over 8,000 Terrorists Neutralized
The Minister also highlighted significant successes in the fight against insecurity, revealing that over 8,000 terrorists and bandits were eliminated in 2024, while 11,600 were arrested and more than 10,000 weapons recovered. He emphasized that previously notorious routes, like the Abuja-Kaduna highway, have become increasingly safer due to sustained military operations.
“In 2024 alone, about 8,000 kidnap victims were rescued. We are making steady progress, and our security forces are now fully empowered to apply maximum force against the Lakurawa armed group following their designation as a terrorist organization by a Federal High Court,” he added.
Economic Reforms Yielding Results
On economic reforms, Idris pointed out that the removal of fuel subsidies has blocked revenue leakages worth hundreds of billions of Naira annually. He also noted that the introduction of the Electronic Foreign Exchange Matching System (EFEMS) in December 2023 has improved transparency and helped clear billions of dollars in forex backlogs, restoring investor confidence in the country.
"Last week, the Naira reached an eight-month high, while foreign capital inflow into the Nigerian Stock Exchange jumped from 4% in mid-2023 to 16% by the end of 2024," he revealed.
Additionally, he stated that Nigeria attracted over $5 billion in Final Investment Decisions (FIDs) in the oil and gas sector, making it Africa’s top destination for energy investments in 2024.
2025: A Year of Consolidation
As President Bola Ahmed Tinubu's administration nears its mid-term, the Minister described 2025 as a year of consolidation, focused on strengthening the gains made over the past 19 months.
"Over the next three months, leading up to the administration’s second anniversary, we will hold weekly briefings with ministers to showcase the achievements of this government," he announced.
With continued reforms and investments across key sectors, the Tinubu administration is positioning itself to deliver sustainable economic growth, improved security, and a more stable cost of living for Nigerians.
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