WorldStage Newsonline– With the Supreme Court affirmation of President Bola Tinubu of the 2023 presidential election, the Federal Government has called on Nigerians to put all hands on deck to tackle the economic challenges and move the nation forward without distraction.
The Minister of Information and National Orientation, Mohammed Idris said at a press conference in Abuja that these are challenging economic times not just for Nigeria but many countries around the world.
He said the president has been working tirelessly to actualize the renew hope agenda since he assume office on May 29 that formed the basis of his coming into office.
According to him, the government had implemented unprecedented reforms that, while tough and painful in the short term, are necessary foundations for the economic growth and prosperity that the people of Nigeria deserve.
He said, “The removal of petrol subsidies, which as you all know were already envisaged by the Petroleum Industry Act of 2021, is freeing up significant resources for Federal and State Governments to invest in infrastructure and welfare programs for the benefit of citizens.
“Similarly, the ongoing liberalization of the foreign exchange regime is designed to close loopholes and gaps that have been exploited in very unscrupulous ways over the years, leading to the loss of billions of dollars in our scarce, hard-earned resources.
“No serious government seeks to inflict burdens on its people. We are very clear in explaining that these pains being felt are a short-term sacrifice to make for the kind of country that we want and that we deserve.
“There is no joy in seeing the people of this nation shoulder burdens that should have been shed years ago. I wish today’s difficulties did not exist. But we must endure if we are to reach the good side of our future.
“Indeed, the Tinubu Administration is taking all the necessary steps to alleviate these pains, and cushion the impact of the foundational reforms we are embarking on.”
The minister went on to outline some of the efforts made by the President so far, in the short and medium-term.
He said, “these include the provisional wage increment of N35,000 monthly for six months, to enhance federal minimum wage, without causing undue inflation.
“Establishment of an Infrastructure Support Fund for States to invest in critical areas that will create an enabling environment for businesses
“Launch of a 100 Billion Naira CNG bus rollout programme, to deliver CNG-powered buses, and establishment of a Presidential Committee to drive implementation.
“Since he assumed office, the President has signed no fewer than five Executive Orders, aimed at improving Nigeria’s business and fiscal environment, and increasing foreign exchange supply.
“Establishment of a Presidential Fiscal Policy and Tax Reform Committee to reform the tax system while also reducing tax burden on Nigerians.
“We are finalizing the process for payment of a Cash Transfer of N25,000 monthly to 15 million of the poorest and most vulnerable households in Nigeria, for three months.
“On presidential directive for the release of 200,000 Metric Tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices, and 225,000 metric tonnes of fertilizer, seedlings and other inputs to farmers.
“An access-to-credit programme for startups and MSMEs, that will be launched soon: providing N50 billion in Conditional Grants to 1 million nano-businesses across Nigeria between now and March 2024; and a new single-digit interest-rate Fund to provide N75 billion to support manufacturing enterprises; among others.
“We have launched the 3MTT programme that aims to develop 3 million technical talents by 2025, in line with the President’s vision for making Nigeria a global hub for digital jobs. In just two weeks since it was launched, close to 500,000 applications have been received from across Nigeria.”
