ADVAN Dialogue: Tinubu’s economic reforms boosting investor’s confidence in Nigeria – FG

The Minister of Information and National Orientation, Mohammed Idris, has said President Bola Ahmed Tinubu has acquitted himself credibly in creating a conducive environment for the private sector to blossom through implementing policies that prioritise economic growth and promote innovation.

A statement Friday by the minister’s media aide, Rabiu Ibrahim, disclosed that he made the remarks in Lagos at the Advertisers Association of Nigeria (ADVAN) dialogue with the theme: “Public-Private Collaboration in the Marketing Industry, the Path to Economic Viability.”

Represented by the Director General of the Advertising Regulatory Commission of Nigeria (ARCON), Dr. Olalekan Fadolapo, the minister canvassed for strategic collaboration with ADVAN in the development of industry standards and the promotion of ethical practices.

“From the public sector, we must create a conducive environment for both local and multinational companies to thrive and provide platforms for innovation, investment, and job creation within the advertising industry.

“For almost one year since he assumed office, President Bola Ahmed Tinubu (GCFR) has remained resolute in his commitment to implementing necessary reforms that will propel our economy to greatness.

“Some of the daunting challenges that we witnessed in the past, especially the repatriation of profits by multinationals and backlog in foreign exchange payments have been tackled securely through the implementation of creative policies by the government,” he said.

Idris said because of the investor confidence boosted by the president, his administration attracted $30 billion in Foreign Direct Investment (FDI) commitments into the real sectors of the economy, since the assumption of office.

He said the investment commitments – covering various sectors, including manufacturing, telecoms, health care, oil and gas, and others – are already being realised.

On the home front, the minister said the Nigerian Bottling Company plans to invest $1billion over the next five years; Unilever is launching new product categories this year, while Seven-Up Bottling Company plans to invest in logistics and recycling for their business.

He added that the Dangote Sugar Refinery, BUA Foods, and Golden Sugar Limited have recommitted to the implementation of their Backward Integration Programmes while Spanish GB Foods recently commissioned the biggest tomato processing factory in Africa located in Kebbi state, which is worth N20 billion.