The Federal Government has stated that the N54.2 trillion budget for the 2025 fiscal year is a testament to President Bola Ahmed Tinubu’s administration’s commitment to economic growth, national security, infrastructure development, and human capital advancement.

The Minister of Information and National Orientation, Mohammed Idris, spoke on Tuesday at the third Ministerial Briefing Session addressed by the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole.

Idris assured Nigerians that the current year will witness tangible fruits of transformative reforms initiated by President Tinubu in the lives of Nigerians.

He said, “Already, we are witnessing a gradual reduction in the prices of foodstuffs, which is bringing much-needed relief to the people.

“The 2025 budget is not just a financial document; it is a bold statement of intent, a roadmap for economic resilience, social stability, and national progress. The budget has demonstrated a renewed focus on security, infrastructure, education, health, solid minerals, agriculture, and other key areas that have a direct impact on the well-being and socio-economic development of the country.”

Described as vital to deepening democratic culture by ensuring that the people are informed, engaged, and empowered to participate actively in the governance process, Minister Idris tasked the media with balanced and development-focused reports.

“Democracy is not an end in itself but a means to promote freedom, liberty, and the socio-economic development of our nation. It thrives on informed discourse, constructive engagement, and a shared commitment to national progress.

“As we continue on this journey of the Renewed Hope Agenda being driven by the visionary leadership of President Bola Ahmed Tinubu, I urge the media to uphold the highest standards of accuracy, responsibility, and professionalism.

“In an era where misinformation and sensationalism can easily distort public perception, your commitment to truth and fairness is more important than ever. We must work together to ensure that the narratives shaping public discourse reflect the realities of governance, devoid of bias or undue sensationalism,” the minister said.

In her presentation, Oduwole, who gave an account of her 100 days in office, disclosed that a N50 billion intervention fund was disbursed through the Bank of Industry (BOI) to 894 Micro, Small, and Medium Enterprises (MSMEs) within one year to strengthen the economy.

Accompanied by the Minister of State, Senator John Owan Enoh, Oduwole added that during the period under review, Sesame exports increased to 120,745 metric tons, soya beans to 21,000 metric tons, nuts to 72,000 metric tons, and cocoa to 113,000 metric tons. According to the minister, Special Economic Zones (SEZs) exports rose to $10 million.

Giving the achievements of agencies under the ministry in the corresponding period, Oduwole said the Nigerian Export Promotion Council (NEPC) provided over 400 farmers with improved seedlings to boost production under the council’s ‘Double Your Export Campaign,’ while the Industrial Training Fund (ITF) identified 20 trade areas of priority across nine sectors of the economy.

It also designed and developed a registration portal with over 650,000 registered artisans, enlisted 3,200 craftsmen, accredited 800 training centers nationwide, and trained 29,412 artisans in various skills.

She added that the ministry has deepened relations with five key countries, including India, Brazil, and the United Arab Emirates (UAE), positioned the country within the African Continental Free Trade Area (AfCFTA), and began reviewing the nation’s trade policy.

On industry, Oduwole outlined the ministry’s strategic vision for 2025 and beyond, focusing on strengthening industrial capacity, improving trade facilitation, and fostering investment opportunities for both local and international stakeholders.

Oduwole informed that the Minister of State had embarked on an industrial tour of the South-West Geo-Political Zone and was collaborating with stakeholders, including the Manufacturers Association of Nigeria (MAN) and the Organized Private Sector (OPS), to revitalize moribund industries.

She equally highlighted the Ministry’s outlook for 2025 as unlocking the full potential of the automotive sector by accelerating local manufacturing and fostering world-class supply chains.

“Our goal is to foster sustainable development, attract investments, and position Nigeria as a competitive player on the global stage. We are committed to creating an enabling environment for businesses to thrive and contribute to our nation’s prosperity,” she said.

For the Minister of State, Senator Enoh, the inauguration of the Industrial Revolution Work Group (IRWG) marked a significant milestone in the country’s industrial sector.

“This elite task force is set to revolutionise the Nigerian Industrial Revolution Plan (NIRP) by fostering a modern, innovation-driven economy. The IRWG will identify potential risks and challenges, enabling proactive risk assessment and mitigation measures.

“By analyzing industry trends, the IRWG will provide predictive results to inform strategic planning and decision-making. Our goal is to create a scalable impact on Nigeria’s economy, driving growth and creating new opportunities for businesses and individuals,” he said.