Currency Reforms Yielding Positive Results Despite Challenges, Affirms Minister

The Nigerian Minister of Information and National Orientation, Mohammed Idris, has stated that the government is taking action against individuals who are sabotaging the economy. He emphasized that the removal of the petrol subsidy was a policy decision supported by all three major candidates during their campaigns.

Idris expressed surprise at the opposition from some quarters to the removal of the subsidy, especially from those who had previously advocated for it. He described this inconsistency as detrimental to the country’s progress.

Despite challenges, Idris affirmed that the President’s policies are producing positive outcomes. He acknowledged that these reforms are not easy and may cause short-term difficulties for Nigerians. However, he highlighted the stabilizing effect on the naira and increased inflows in the foreign exchange market as early signs of progress.

The Minister emphasized the government’s commitment to reform and its readiness to confront those who seek to undermine these efforts. He commended the collaborative efforts of regulatory and enforcement agencies in identifying and penalizing individuals involved in illegal activities and economic sabotage.

In response to the resistance faced by the Central Bank of Nigeria (CBN) in implementing reforms, Idris assured that relevant agencies would remain vigilant to prevent malpractices that could harm the currency. He reiterated the government’s determination to protect its efforts from disruption.

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