- Federal Government urges Nigerians to remain patient amid difficulties, highlighting positive outcomes from administration’s reforms and warning against sabotage
- Mohammed Idris, Minister of Information, emphasizes President Tinubu’s economic vision, including petrol subsidy removal, redirecting savings to essential investments
According to a statement released by Mohammed Idris, Minister of Information, the Federal Government has urged Nigerians to remain patient in the face of ongoing difficulties across the country.
Idris highlighted the positive outcomes resulting from the reforms implemented by the current administration while warning against sabotage.
“When President Bola Ahmed Tinubu assumed office on May 29, 2023, he outlined his economic vision for Nigeria, emphasizing two key policy statements,” Idris stated.
“Firstly, he announced the immediate termination of the petrol subsidy regime due to its unsustainable costs amidst dwindling resources. He pledged to redirect the savings from subsidy removal towards essential investments in public infrastructure, education, healthcare, social welfare, and prosperity for millions of Nigerians.”
“Since the subsidy removal, petrol importation has decreased by fifty percent, totaling one billion liters monthly, as reported by the National Bureau of Statistics. Additionally, crude oil production has steadily increased, reaching an average of 1.55 million barrels per day in Q4 2023.”
“Furthermore, monthly allocations to states from the Federal Accounts Allocation Committee (FAAC) have surged post-subsidy removal, providing additional funds for governments at all levels to deliver democratic dividends to Nigerians.”
Assuring Nigerians of the government’s commitment to stabilizing the economy, Idris stated, “We will continue to seek the patience and understanding of Nigerians as we navigate through these challenging times towards a season of prosperity and renewed hope.”
Idris also addressed criticism from opponents of Tinubu in the recent election, accusing them of politicizing critical issues.
“Notably, the removal of the petrol subsidy was a consensus among all major candidates during the election campaign. However, it is disheartening to witness those who advocated for subsidy removal now opposing it. Such insincerity undermines our country and democracy.”
Referring to Tinubu’s pledge for a unified exchange rate, Idris emphasized the government’s commitment to transparent and equitable monetary policies while acknowledging the challenges ahead.
“These foundational reforms are essential for sustainable economic growth, despite the short-term difficulties they may pose. We recognize the complexity of the issues and remain dedicated to implementing strategic solutions for lasting progress.”
Idris reiterated the government’s resolve to address Nigeria’s multifaceted challenges with creativity, strategic planning, and decisive actions aligned with expert recommendations.
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