FG Mobilizes MDAs to Stabilize Naira, Attract Investments

The Federal Government, under the leadership of President Bola Tinubu, is actively mobilizing its Ministries, Departments, and Agencies (MDAs) to address economic challenges, stabilize the foreign exchange rates, and create a conducive environment for business and investment.

This was disclosed by the Minister of Information and National Orientation, Mohammed Idris, in a statement released on Sunday titled ‘Amidst challenges, Nigeria will forge ahead.’

The government emphasized its commitment to bringing down inflation and fostering an environment conducive to business and investment. It also highlighted plans to attract significant investments from Indian businesses, with pledges worth $14 billion made during the G20 Summit held last September.

In response to recent security challenges, particularly the regrettable incidents in Plateau State, the government vowed to ensure that perpetrators of violence face justice. The Minister acknowledged the efforts of security and intelligence agencies in maintaining safety and security across the nation.

The statement also touched on various interventions, including a Students’ Loan Scheme, initiatives to deploy lower-cost compressed natural gas (CNG) mass transit buses, and low-interest loan schemes for businesses. The government emphasized its dedication to creating a Nigeria where no one is left behind, with impactful interventions designed for the benefit of all citizens.

Regarding foreign direct investment, the government reported that Indian businesses are making good on their pledges, with significant investments already underway. President Bola Tinubu had commended Indian investors for their substantial investment commitments during the Nigeria-India Presidential Roundtable and Conference on the sidelines of the G20 Summit in India.

While acknowledging the challenging season the nation is experiencing, the government cautioned against misinformation and divisive narratives. It urged citizens to resist false claims and remain united in the face of challenges, emphasizing the importance of standing together to strengthen the bonds that hold the nation.

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