Tinubu's Economic Reforms Boost Nigeria's Foreign Reserves

During a visit to Abuja, Dr. Jumoke Oduwole, the Minister of Industry, Trade and Investment, highlighted the measurable results of President Tinubu's economic reforms, noting that Nigeria's foreign reserves have crossed the $50 billion mark for the first time in 13 years. The removal of Nigeria from the Financial Action Task Force's grey list sends a strong signal to global investors about the country's readiness to engage in legitimate business.

Oduwole stated that the administration is committed to amplifying policies aimed at strengthening the economy and attracting investment. She emphasized the importance of enhancing critical infrastructure, particularly in the power sector, to ensure reliable electricity supply for businesses.

The minister also discussed Nigeria's active engagement in regional and global trade initiatives, including the African Continental Free Trade Area, to boost industrial capacity and increase non-oil exports. The statement was communicated through Rabiu Ibrahim, the Special Assistant to the Minister.