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Business Insider
a day ago
- Business
- Business Insider
"We must tell our success stories too" – Nigeria's information minister on 26 years of democratic growth
The Nigerian government has taken a significant step toward revitalizing its creative economy and reshaping the country's international image, as Nigeria celebrates 26 years of democracy. The Nigerian government aims to enhance its international image and attract investment by emphasizing positive narratives about the country. The government is integrating media literacy into education to empower youth with critical thinking and responsible content creation skills. Officials are encouraging citizens and media creators to highlight Nigeria's successes alongside its challenges to foster a balanced perspective. As Nigeria commemorates 26 years of uninterrupted democratic governance, the Minister of Information and National Orientation, Mohammed Idris, has called on citizens, particularly the media and content creators, to strike a balance in how they portray the nation, urging them to also tell our success stories alongside the challenges. Business Insider Africa spoke with the Minister of Information and National Orientation, Mr. Mohammed Idris, about the nation's achievements over the years. According to the minister, telling positive stories about the country - whether in governance, innovation, entrepreneurship, or the creative sector, is not an exercise in propaganda but a strategic necessity. As Nigeria works to reposition its global image and attract international partnerships, he urged stakeholders to take ownership of the national narrative and project hope, resilience, and progress. " There are so many good things happening around Nigeria. You can't just keep selling only the bad stories. No country does that and progresses—especially at a time when we're seeking foreign direct investment. If we want investors to come, we also have to tell the positive stories about our country, so they can believe in it and be encouraged to invest." he said. Clarity in governance matters Following President Tinubu's inauguration, the government took bold decisions, including the removal of fuel subsidies and the floating of the naira. These reforms triggered a range of economic disruptions, leading to a sharp rise in fuel prices and general commodity costs across the country. As a result, the cost of living increased significantly, with many citizens experiencing reduced purchasing power, widespread hardship, and hunger. According to the minister, the Tinubu-led administration has remained fully aware of the situation and has consistently kept Nigerians updated on its economic policies and adjustment strategies. 'One thing this government consistently does is keep ordinary Nigerians informed about the steps it's taking to fix the country. President Tinubu has always emphasized the importance of maintaining transparency in all our processes. ' the minister said. Training and empowering youth in media and social media Beyond education, the administration is developing a range of programs aimed at engaging artists, media professionals, investors, and civil society groups to foster mutual understanding and drive sustainable growth in the sector. These efforts not only aim to elevate Nigeria's cultural profile but also to attract foreign direct investment, positioning the creative economy as a cornerstone of national development. Idris highlighted that the administration is developing a range of programs aimed at engaging artists, media professionals, investors, and civil society groups to foster mutual understanding and drive sustainable growth in the sector. These efforts not only aim to elevate Nigeria's cultural profile but also to attract foreign direct investment, positioning the creative economy as a cornerstone of national development. ' An inflow of over $200 million has been secured by the Ministry of Arts, Culture, and the Creative Economy through external funding. This will provide a major boost to the sector. We know that Nigerian youth have been making waves globally, especially across the African continent. ' "Our film industry, Nollywood, has gained significant recognition, and many young Nigerians are also excelling in music and other creative arts. These are powerful tools of communication with the world. Through arts and culture, we can promote Nigeria's image abroad and demonstrate that the country has been evolving and improving over the years.' He said Promoting positive narratives and national orientation The Minister of Information and national orientation highlighted the urgency of responsible social media use, stressing the need for targeted training programs for youth and influencers who play a major role in shaping public discourse and perceptions. As part of this comprehensive effort, the ministry said is collaborating with the Ministry of Education to embed media and information literacy into the national curriculum, beginning with the National Open University. This initiative is designed to equip young Nigerians with the critical thinking and digital skills necessary to navigate today's media landscape. ' We are already working with the Ministry of Education to deepen this initiative so it can be replicated across other universities. The goal is for Nigerian youth not only to study geography, science, English, or mass communication, but also to gain media literacy—the ability to discern between good and bad information, between what is fake and what is real.'
Newsweek
03-06-2025
- Business
- Newsweek
Nigeria's Minister of Information: After Aid Cuts in Africa, Only Markets Can Deliver
Advocates for ideas and draws conclusions based on the interpretation of facts and data. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Severe aid cuts have forced a reckoning for African governments. Aid dependency was never the intention, but too often it became the path of least resistance. With support suddenly withdrawn, the continent is now confronting deep structural flaws in governance. A reflex toward economic intervention has long stymied African governments. At best, it stems from an urge to shield citizens from high prices; at worst, to protect reserves of patronage. Either way, it has failed to meet the continent's most urgent need: creating enough jobs for its rapidly growing youth population. The Honorable Minister of Information Mohammed Idris addresses the media at the Ministry of Information & National Orientation's ministerial press briefing, on May 16, 2025. The Honorable Minister of Information Mohammed Idris addresses the media at the Ministry of Information & National Orientation's ministerial press briefing, on May 16, 2025. Photo Courtesy of the Ministry of Information & National Orientation In the wake of aid cuts, it is more important than ever that government focus on doing fewer things—but doing them well. The impulse to control prices for food and energy or manage sprawling state-owned enterprises must be rejected. Most governments lack the capacity or financial firepower to sustain such roles, regardless of ideology. My country, Nigeria, was long caught in the throes of statism—and crisis after crisis followed. Now, at the midpoint of President Bola Tinubu's first term, market reforms are reshaping the economy. Though painful, they are beginning to pay off. Coming from a minister, this may sound like predictable rhetoric. But dispassionate observers seem to agree. The World Bank's chief economist described Nigeria as being at a turning point, and its latest report noted that Nigeria grew at its fastest pace in over a decade (excluding the post-COVID-19 rebound), with further gains projected next year. Ours is only one example—but it shows that the difficult path toward market reform is worth it. Granted, much work still lies ahead. Many preach reform but shrink from short-term political costs. Lifting controls often leads to price spikes or inflation. In Nigeria, the removal of the fuel subsidy and exchange rate controls caused disruption: the naira fell, fuel prices initially tripled, and food prices spiked. Had any previous Nigerian government acted sooner, the adjustment would likely have been less turbulent. But they did not. Few policies have hung heavier around Nigeria's neck than its fuel subsidy. One of the most expensive price controls in the world, it stands as a cautionary tale of state intervention gone awry. Introduced in the 1970s when local refineries still functioned, it later spiraled into a costly political fixture. By 2022, with nearly all fuel imported, the subsidy devoured over 80 percent of government revenue—more than twice the combined spending on health and education. Meanwhile, international aid filled the gaps, offering cover for the dysfunction to persist. Despite reforms in Zambia, Ghana, and Egypt, fuel subsidies remain widespread across Africa—leaving import-reliant nations' public finances at the mercy of external shocks, instead of freeing up funds for infrastructure and public services. A controlled exchange rate was meant to conserve Nigeria's foreign currency reserves and guard against inflation. Instead, it deterred foreign investment in the non-oil sectors Nigeria needs to diversify its economy. The move to a market-determined exchange rate has been predictably bumpy. But foreign investment has begun to return, as companies are reassured they can repatriate profits. Alongside fuel subsidy cuts, it has helped rebuild foreign reserves—a critical buffer in an era where uncertainty is becoming the norm. When fears of global recession sent oil prices tumbling and put pressure on the naira, the central bank had the firepower to step in, selling reserves to smooth out temporary disorder. Yet across Africa, controlled exchange rates remain common. They risk complicating the African Continental Free Trade Area—the continent's flagship initiative to create the world's largest free-trade area—by distorting markets and undermining the deeper alignment needed to build larger, more attractive investment destinations. However, the Nigerian government will do more to cushion the impact of reforms on the most vulnerable. A taskforce was recently established to accelerate the rollout of a cash transfer program, which so far has reached only a third of its intended beneficiaries. The goal is to extend support to an additional 15 million households. Next on the reform block are state-owned enterprises. The Nigerian National Petroleum Company (NNPC), the state energy firm, is taking its final step toward an initial public offering. A former Shell executive was appointed to oversee the transition to private sector practices, with the board replaced in its entirety. Successive governments have sought to reform the entity, but the results have remained insufficient. A change of course had become necessary. Nigeria, like much of Africa, faces an urgent need: jobs. Only the private sector can deliver employment at the scale required. Government intervention has repeatedly shown it cannot. And only a thriving private sector can generate the revenues needed to fill the gap left by the withdrawal of aid. Nigeria lags even the continent's already low tax-to-GDP ratios. Yet following recent reforms, government revenues grew by more than 50 percent. A landmark tax bill recently passed. It should help us surpass the African average by 2027. It is easy to rely on aid, just as it is easy to rely on market controls. Yet neither has proved sustainable. The withdrawal of the former demands a deliberate rollback of the latter. Mohammed Idris is the minister of information for the Federal Republic of Nigeria. The views expressed in this article are the writer's own.
