The federal government has expressed regret for the economic difficulties Nigerians are enduring due to reforms undertaken by the Bola Ahmed Tinubu-led administration. At a Ministerial Sectoral Update in Abuja, the Minister of Budget and Economic Planning, Atiku Bagudu, issued the apology while staunchly defending the administration’s policies.
Bagudu acknowledged that the foreign exchange rate and inflation figures remained above target levels, impacting the economy and citizens’ finances. Despite the challenges, he defended the Tinubu administration’s “Renewed Hope Agenda,” asserting that it was on course to stimulate economic growth.
The minister emphasized the importance of restoring macroeconomic stability to attract investment and address underinvestment in critical sectors such as security and education. He described the economic difficulties as inevitable consequences of necessary economic restructuring.
Meanwhile, the Secretary to the Government of the Federation (SGF), Senator George Akume, highlighted the administration’s achievements in reviving the economy and implementing social programs during its first year in office. Akume praised Tinubu’s efforts to unleash Nigeria’s economic potential through major reforms and infrastructure development.
He cited policies aimed at attracting foreign investment, creating jobs, and fostering infrastructure development, including the dismantling of monopolistic control over electricity and the removal of fuel subsidies. Akume also highlighted social intervention programs targeting poverty alleviation and human capital development.
While acknowledging challenges faced in the first year, Akume commended President Tinubu’s commitment and resilience. He reiterated the administration’s commitment to implementing its “Renewed Hope Agenda” for economic revitalization, social inclusion, and infrastructural progress.
Akume called for collective efforts towards unity and peace to realize Nigeria’s full potential through the government’s vision and policies.
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