By Tunde Omolehin
The Director of the National Education Summit (NES), Professor Adams Agahiu, has said Nigeria’s recent clearance of more than $10 billion in foreign exchange liabilities is restoring investor confidence and strengthening the naira.
Agahiu, a university professor, stated that the country’s net foreign exchange reserves increased significantly from $3.99 billion in 2023 to $23.11 billion by 2024, describing this development as a major boost to macroeconomic stability.
Speaking with journalists on Sunday, he noted that renewed foreign interest in Nigeria’s economy has translated into substantial investment inflows.
According to him, the Federal Government has secured over $50 billion in new Foreign Direct Investment (FDI) commitments, while more than $8 billion has been unlocked for fresh oil and gas investments.
He added that the solid minerals sector has also recorded notable growth, with over $800 million invested in mineral processing projects in 2024.
On infrastructure, it is stated that you said the administration initiated an aggressive development drive, with more than 440 road projects underway nationwide, including the construction of over 2,700 kilometres of superhighways within two years.
He further highlighted the government’s social welfare initiatives, noting that over 900,000 Nigerians have benefited from the Presidential Loan and Grant Scheme, while about 300,000 students have accessed the Students’ Loan Scheme aimed at expanding access to higher education and entrepreneurship financing.
Agahiu commended President Bola Ahmed Tinubu’s Renewed Hope Agenda, describing it as a catalyst for progress in economic reform, infrastructure development, national security, and youth empowerment.
“Under the Renewed Hope Agenda of President Tinubu, there is significant progress in economic reform, infrastructure development, national security and youth empowerment, all aimed at stabilising Nigeria’s economy and strengthening governance,” he said.
He also praised the Presidential team, led by the Chief of Staff to the President, Hon. Femi Gbajabiamila, for remaining focused on the administration’s policy objectives.
According to Agahiu, the achievements recorded so far demonstrate steady and impactful progress despite a challenging global economic environment.
He concluded by endorsing President Tinubu for a second term in 2027, citing the administration’s performance since assuming office in 2023.
