The Minister of Information and National Orientation, Mohammed Idris, has declared that President Bola Tinubu's economic policies are starting to yield positive results as Nigeria's inflation rate dropped to 23.7 percent in April from 24.23 percent in March 2025.

Speaking at the 2025 ministerial briefing series held at the National Press Centre in Abuja on Friday, Idris highlighted the recent National Bureau of Statistics (NBS) report showing inflation cooling off by 1.86 percent on a month-on-month basis.

"The President is focused and determined, and his interventions are clearly showing the benefits of reform, though gradually, are real and measurable," Idris stated.

Food Inflation Easing

According to the minister, food inflation, a critical concern for many Nigerians, has eased to 21.26 percent in April. On a month-on-month basis, it slowed to 2.06 percent, down from 2.18 percent in March.

"This positive movement has largely been driven by price reduction in several items such as maize flour, wheat, yam flour, okra, soya beans, rice, and beans," Idris explained.

The minister identified the major drivers of headline inflation as food and non-alcoholic beverages, restaurants and accommodation services, and transport, noting that these sectors are being targeted through strategic government interventions in agriculture, transportation, and other services.

Cautious Optimism

While acknowledging that the country has not yet reached its desired economic state, Idris expressed optimism about the trajectory of the economy.

"We acknowledge that we are not yet where we desire to be, but these latest figures give us every reason to be hopeful. They show that hard decisions are beginning to bear fruit, and as inflation eases, we expect to see corresponding improvements in consumer purchasing power and living conditions for all Nigerians generally," he said.

The minister assured Nigerians that the federal government would continue to sustain this momentum, emphasizing that the administration's focus remains on implementing people-centered policies that guarantee relief, restore economic stability, and ensure shared prosperity for all Nigerians.

Since taking office, President Tinubu has implemented several controversial economic reforms, including the removal of fuel subsidies and floating of the naira, which initially led to increased hardship for many Nigerians but which the government maintains are necessary for long-term economic stability and growth.