Tinubu’s reforms have stabilised Nigeria’s economy, minister says

Nigeria’s government says President Bola Tinubu’s economic reforms have helped stabilise the economy, even as it seeks to expand opportunities for businesses across West Africa.

Minister of State for Foreign Affairs Sola Enikanolaiye made the claim in Bauchi while speaking to journalists at a sensitisation workshop on the ECOWAS Trade Liberalisation Scheme for the North-East geopolitical zone. He said the government had achieved a reasonable degree of price stability and economic growth and was gradually moving toward economic and social development.

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One of the main reasons we decided to organise this workshop is in line with our 4D foreign policy framework, which places the Nigerian people at the centre of our foreign policy.

The workshop, organised by the ECOWAS National Unit of the Foreign Affairs Ministry with the Bauchi State Government, was designed to make foreign policy more relevant to Nigerians and improve awareness of regional trade opportunities. Enikanolaiye said the initiative reflected the government’s 4D foreign policy framework, which places Nigerians at the centre of foreign policy.

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We are looking at ways and means of bringing foreign policy closer to Nigerians at the grassroots in a manner that enhances their prosperity and expands economic opportunities within the West African region.

The minister said small and medium-sized enterprises, larger companies and agricultural businesses should explore opportunities in West Africa and the wider African market. He acknowledged that many people knew little about the trade scheme and said the workshops would explain its scope and the requirements Nigerian companies must meet to register and benefit from it. The programme will move from the North-East to the North-Central, North-West, South-South, South-East and South-West before ending in Abuja.

Enikanolaiye also said the government wanted to strengthen Nigeria’s productive base through industrialisation and value addition. “We believe that the productive base of the Nigerian economy has to improve so that we can produce more, generate more jobs and create opportunities for our growing youth population,” he said.

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We believe that the productive base of the Nigerian economy has to improve so that we can produce more, generate more jobs and create opportunities for our growing youth population.