As Nigeria nears its 64th Independence Day celebration, the Federal Government has recognised the tough economic conditions affecting several Nigerians. In a recent press conference in Abuja, Senator George Akume, the Secretary to the Government of the Federation (SGF), revealed that the government is fully aware of these difficulties and actively strives to alleviate their impacts. During the press briefing organised to celebrate Nigeria’s 64th Independence anniversary with the theme ‘Reflecting on the Past, Inspiring the Future,’ Akume noted that the ongoing economic challenges are primarily due to stringent policy choices, particularly the elimination of fuel subsidies.
In light of these difficulties, he assured the people of Nigeria that the government is implementing both immediate and future plans to generate opportunities and offer support through the Renewed Hope Agenda. President Bola Tinubu’s administration expresses profound empathy for the struggles faced by Nigerians regarding economic challenges, emphasising that eliminating Fuel Subsidies was a necessary decision. Nonetheless, he promised that measures would be implemented to alleviate the effects through specific policies designed for sustainable economic improvements.
Tariffs on food will be eliminated while supporting agricultural inputs.
Akume emphasises that one urgent challenge is the increasing cost of food. In response, the government has implemented various strategies, such as eliminating Tariffs on specific food imports and providing agricultural inputs like fertilisers to boost food output. According to him, these actions aim to enhance Food Security and ensure that essential items are more accessible to Nigerians. He further guaranteed that the administration’s overarching strategy would steadily bring about economic stability. With President Tinubu at the helm, initiatives aimed at boosting socio-economic growth are taking shape, and positive transformations in Nigeria are anticipated soon.
A display of unity was evident as several ministers came together with the SGF to support the government’s economic strategies. Finance Minister Wale Edun clarified that although the country is currently relying on importing necessary food items to address the existing shortage, the ultimate aim is to enhance domestic agricultural output. Edun remarked that they are focused on resolving the ongoing food scarcity quickly, emphasising that monetary assistance is being provided to farmers to boost domestic production.
Several projects are ongoing to improve the country.
Atiku Bagudu, the Minister of Budget and National Planning, explained the rationale behind the decision to allow the Naira to float. He emphasised that this strategy was essential for enticing foreign Investment and reinforcing economic stability. Although he recognised the immediate challenges stemming from this choice, Bagudu pointed out the encouraging reactions from international financial bodies that are starting to regain trust in Nigeria’s economic future. Regarding infrastructure, Minister of Works David Umahi disclosed that the administration took on more than 2,600 road initiatives worth N13 trillion.
He emphasised that the current government aims to finalise these existing projects prior to starting any new ones. Additionally, Umahi advocated for the use of concrete Technology instead of asphalt for building roads, asserting that concrete surfaces endure longer, particularly in regions prone to flooding. In response to the recent failure of Alau Dam in Borno State, Professor Joseph Utsev, the Minister of Water Resources and Sanitation, revealed that the government has set up a technical committee to evaluate the condition of dams nationwide. This initiative seeks to avert similar incidents from happening again.
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Lastly, the Secretary to the Government of the Federation wrapped up the occasion by highlighting that President Tinubu has requested a modest observance for the 64th Independence Anniversary, reflecting the nation’s prevailing sentiment. Although the economic measures may be challenging, the administration is confident that they will pave the way for a more promising future. Akume, along with fellow ministers, urged citizens to stay patient and supportive as the nation tackles these tough yet essential reforms.