The Federal Government is intensifying efforts to reduce food prices by expanding investment in agricultural production, says the Minister of Information and National Orientation, Mohammed Idris......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
Speaking at a press briefing in Abuja on Tuesday to launch the 2025 Ministerial Briefing Session, Idris emphasizes that while the government does not intend to regulate food prices, it remains focused on boosting agricultural output to increase supply and drive down costs.
“In the past, commodity boards controlled prices, but in line with free-market principles and the need to encourage agricultural entrepreneurship, the government does not see price regulation as necessary,” Idris explains.
He adds that large-scale food production is key to stabilizing prices. “When supply increases, prices naturally decrease,” he states.
Security Forces Record Major Gains
Idris highlights progress in the security sector, stating that security forces have neutralized over 8,000 terrorists and bandits in 2024, arrested 11,600 suspects, and recovered more than 10,000 weapons.
He notes that ongoing security operations are making highways safer. “While challenges remain, roads such as the Abuja-Kaduna highway are now significantly safer. We will continue working to improve security nationwide,” he assures.
The minister also reports that around 8,000 kidnapped victims have been rescued, with security agencies intensifying efforts to prevent abductions and ensure swift prosecutions.
Additionally, he confirms that security forces are now fully authorized to use maximum force against the Lakurawa armed group, following its classification as a terrorist organization by a Federal High Court.
Economic Reforms Strengthen Growth
On economic progress, Idris states that government reforms, including the removal of fuel subsidies, are plugging financial leakages worth hundreds of billions of naira annually.
He highlights the impact of the Electronic Foreign Exchange Matching System (EFEMS), introduced in December 2023, which has improved transparency in foreign exchange transactions, facilitated the clearance of billions of dollars in backlogs, and restored investor confidence.
“The naira has reached an eight-month high in the official market, while foreign investment in the Nigerian Stock Exchange has grown from 4% in mid-2023 to an average of 16% by the end of 2024,” he notes.
He also states that Nigeria is now the top destination for oil and gas investments in Africa, securing over $5 billion in Final Investment Decisions (FIDs) in 2024.
2025: A Year of Consolidation
Idris describes 2025 as a year of consolidation, as the government builds on the achievements recorded in the first 19 months of the Tinubu administration.
“As we approach President Bola Ahmed Tinubu’s second anniversary in office, ministers will provide weekly updates on key developments. This year marks a phase of reinforcing progress and setting the stage for the administration’s mid-term objectives,” he concludes.