Economy: We’re doing everything to stem inflation, exchange rate crises – FG

The federal government is deploying all required measures, including devoting various ministries and agencies under its control, to stemming the rising inflation as well as stabilizing the foreign exchange rates, for the prosperity and comfort of all Nigerians.
Minister of Information and National Orientation, Mohammed Idris gave the assurance on Sunday, January 28, in a statement issued in Abuja.

He also assured that all perpetrators of the resurgent violence and killings in Plateau state would be apprehended and prosecuted, especially as the government is currently facing the issue of security boldly.

Idris, who attended the Daily Trust Dialogue on Thursday, emphasized President Bola Tinubu administration’s initiatives aimed at improving the quality of life for all Nigerians.

Meanwhile, at the same event, the President of the Nigerian Labour Congress, Comrade Joe Ajaero, criticized the administration’s policies and reforms, portraying them as detrimental to the populace.

In an attempt to shed light on the government’s endeavors and strategies to alleviate the challenges faced by Nigerians, the Minister highlighted various programs and initiatives aimed at mitigating the impact of current circumstances.

He also cautioned against fifth columnists who spread misinformation and sow division, emphasizing the need for unity.

He said: “In the area of security, all threats are being boldly confronted. We are taking the fight to the criminals’ dens, with promising results. Within the last week, several bandits, kidnappers and militants have been neutralized or arrested.

“The resurgent crisis in Plateau State is indeed highly regrettable, and we assure that all perpetrators of violence there, and everywhere else in the country, are being brought to book. Justice will be done, and peace will be restored in all affected communities. We salute the gallantry of security and intelligence agencies who are leaving no stone unturned to ensure that we are safe in our homes and on the highways, and that criminals have no breathing space.

“Regarding the economy, all relevant Ministries and Agencies of the Federal Government are working in coordinated fashion, to bring down inflation, stabilize foreign exchange rates, and create a truly enabling environment for business and investment. The Nigeria that President Tinubu seeks to build is one where no one is left behind.

“Impactful interventions are being rolled out, including a Students’ Loan Scheme, a Presidential Initiative to deploy lower-cost CNG mass transit buses to provide alternatives to petrol and diesel, and various low-interest loan schemes for businesses. The CNG interventions will bring down the cost of transportation by more than 50 percent. We urge Nigerians to take advantage of these opportunities as they emerge, as they have been designed for the benefit of all”, he said.

Warning about elements focused on causing harm to the peace and progress of the country, he said: “Even as we tackle our challenges with urgency and dedication, it is also necessary to remind all Nigerians of the need to resist all forces and narratives of misinformation and division.

“For example, it is not true that the relocation to Lagos of the Headquarters of the Federal Airports Authority of Nigeria (FAAN), and of certain departments of the Central Bank of Nigeria (CBN), are political moves aimed at marginalizing a section of the country. These allegations are unfounded. Instead, these are pragmatic administrative steps to improve operational efficiency and reduce operating costs.

“I would like to urge all Nigerians to be especially mindful of all persons and groups at home and abroad, who specialize in making false and inciting claims on radio, TV and social media, as well as in peddling altered videos and images for viral dissemination. We must all stand together as one, against these forces that constantly seek to test and break the bonds that hold us”, he said.

He reminded Nigerians that achieving the desired society and living space in Nigeria is not an exclusive responsibility, but one requiring the active involvement and participation of all citizens.

He also noted that being mindful of its role in achieving the model Nigeria, the federal government had introduced the Nigerian National Charter, spelling out the contract between Nigerians and the federal government.

“Nigeria belongs to all of us, and the work of building the Nigeria of our dreams is one that must be done by everyone, regardless of our religious faith or ethnic group or geopolitical zone. It is for this reason that we have produced the Nigerian National Values Charter (NVC), a documentation of the social contract between Government and the citizens, as one of the ways to restore a national sense of hope, trust and solidarity”, he said.

On the fight against corruption, Idris said “as part of this focus on earning the trust of Nigerians, the fight against corruption will continue, and will intensify. Determined to ensure that there are no sacred cows, and that public funds are applied wholly for the public good, President Tinubu is providing the anti-corruption agencies with the support required to fulfill their mandate.

“We will not succeed at building the Nigeria of our dreams if we insist on focusing only on our challenges and problems, and not the abundant opportunities and positive narratives that we are surrounded by. We recognize the fact that the country continues to enjoy genuine enthusiasm for investment from local and foreign investors”, he said.

On other successes and good news, he said “in the opening weeks of 2024, our Stock Market has already put us on the global map for the impressive returns being delivered. The Indian businesses that pledged $14 billion in new investment in Nigeria on the sidelines of the G20 Summit in India in September 2023 have since started making good on those pledges.

“Across oil and gas, agriculture, consumer goods, renewable energy, healthcare, ICT and many other fields we are seeing global and local businesses demonstrating unshakable belief in the limitless possibilities that Nigeria embodies.

“The heartwarming exploits of our beloved Super Eagles at the ongoing African Cup of Nations in Cote d’Ivoire are another case in point; a timely reminder that the things that bind us together as one are much deeper than the things that separate and divide us.

“Let us never forget what is truly possible: that instead of division and hatred, we can live and thrive in unity and hope, assured that, despite the temporary challenges and setbacks that we face from time to time, a glorious dawn is just around the corner”, he said.

(The Nation)

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