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Warns citizens against tearing nation apart
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Says country progressing, infrastructure improving
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The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has warned that negative narratives about Nigeria carry significant economic costs, urging citizens to avoid comments that could undermine the country’s image at home and abroad.
Oyedele, who spoke last week at the launch of the latest World Bank Nigeria Development Update (NDU) in Abuja, said the country was paying what he described as “narrative costs, stereotype tax and prejudice premiums” arising from baseless negative comments on social media and television.
He said while Nigeria was not yet where it aspired to be, citizens needed to acknowledge the progress being made and work collectively towards building a better nation rather than focusing exclusively on its challenges.
The minister added that baseless negative comments about Nigeria had consequences both within the country and internationally.
According to him, “We are paying real costs because of the narratives about our country. We pay what I call stereotype tax and prejudice premiums, and I am not joking. The impact is huge.
“When we make negative comments about Nigeria on social media and television without any basis, we pay for them, both at home and abroad.”
Oyedele stressed that the government was not asking Nigerians to portray the country as a paradise but urged them to offer constructive criticism and contribute to national development.
“We are not saying Nigeria is now a paradise. But let us work together to build the country we want. Do not tear the country apart; let us build it up. We are open to feedback, and we welcome constructive criticism,” he said.
The minister also defended the progress being made in infrastructure development, particularly road construction, cautioning against generalising the state of the country’s infrastructure based on isolated negative experiences.
He acknowledged that some roads remained in poor condition, citing his recent journey from Lagos to Ondo, which he described as a difficult experience.
However, he maintained that available data showed an overall improvement in road infrastructure, insisting that such progress should be recognised alongside the challenges that remained.
“My point is that, at the broader level, data shows that our roads are improving. We should recognise the progress we are making while continuing to fix the roads that are still in poor condition,” he said.
Oyedele urged Nigerians to acknowledge improvements where they occurred while continuing to demand solutions to persistent infrastructure problems.
He further highlighted the potential benefits of lower interest rates for government spending, saying a reduction to single-digit levels, if the necessary conditions were met, could save the Federal Government more than N10 trillion in the following year.
According to him, such savings could provide additional resources for road construction, education and improving access roads linking farms to markets.
“If the right conditions are in place for interest rates to fall to single-digit levels, the Federal Government could save more than N10 trillion next year. Imagine what that amount could achieve if invested in federal roads, education and access roads linking farms to markets,” he said.
The minister said Nigeria had already embarked on a reform journey and urged citizens to support efforts to sustain the progress.
“We have started this journey, and we must not reverse the progress we have made,” he added.
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