Metro

Give us a little time, we’ll tackle inflation, stabilize Naira, end insecurity in Nigeria, Tinubu pleads

Published

3 months ago

January 29, 2024

President Bola Tinubu on Sunday pleaded again with Nigerians to give his administration a little more time and exercise patience as he is “committed to bringing down rising inflation, tackle insecurity, stabilise foreign exchange rates, and create a truly enabling environment for business and investment to thrive in the country.”

Tinubu, who made the plea in a statement through the Minister of Information and National Orientation, Mohamed Idris, further gave assurances that his administration “remains committed to addressing issues, despite the inflation and instability plaguing the economy.”

“There is no downplaying the reality of the challenging season that we find ourselves in as a nation: the impact of inflation on personal and household budgets, and the threats to security in parts of the country,” the president said in the statement.

“But that is only part of the story. Just as important are the various bold measures that the Federal Government of Nigeria, under the leadership of President Bola Ahmed Tinubu, is taking to decisively confront all of these challenges.

“We fully acknowledge the duty and the responsibility of care that the Federal Government owes to every Nigerian, across the lines of age, gender, religion, ethnicity, and social class.

“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.

“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.

“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.

“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.

“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”, the statement added.

Related Topics:#insecurity Featured inflation Nigeria President Bola Tinubu

Click to comment

Metro

I saved Nigeria from bankruptcy by removing fuel subsidy— Tinubu

Published

5 hours ago

April 29, 2024

Akanimoh Etim

Nigerian President, Bola Tinubu, on Sunday, boasted that he saved Nigeria from going bankrupt by removing fuel subsidy on his first day in office.

Tinubu had, in his inaugural speech on May 29, 2023, pronounced that his administration would discontinue fuel subsidy payments and though the ripple effect of the removal has brought untold hardship and hunger, the President has continued to praise his courage in taking that decisive action.

Tinubu who spoke at the Special World Economic Forum in Riyadh, Saudi Arabia, on Sunday, admitted that though the policy came with economic pains, it was in the best interest of Nigerians, affirming that the move has save the government money for infrastructural expansion.

While addressing his audience, Tinubu argued that removing the petrol subsidy was a necessary action for Nigeria not to go bankrupt and to reset the economy towards growth.

Tinubu said that the petrol subsidy removal equally engendered accountability, transparency and physical discipline for the country.

“Concerning the question of the subsidy removal, there is no doubt that it was a necessary action for my country not to go bankrupt, to reset the economy and pathway to growth,” Tinubu said.

“Yes, there have been drawbacks. Yes, there was the expectation that a greater number of people would feel the difficulty, but, of course, I believed it was their interest that was the focus of government.

“It is easier to manage and explain the difficulties, but along the line, there was a parallel arrangement to cushion the effect of the subsidy removal on the vulnerable population of the country.

“We shared the pain across the board. We cannot but include those who are very vulnerable. Luckily, we have a very vibrant youthful population interested in discoveries by themselves, highly ready for technology, good education, and committed to growth,” Tinubu explained.

Metro

Nigerian troops neutralise 216 terrorists, arrest 332 in one week— Official

Published

1 day ago

April 28, 2024

Akanimoh Etim

The Nigerian Army Defence Headquarters (DHQ) says troops from different operation theaters across the country neutralised 216 terrorists and arrested 332 persons in the past one week.

A report released on Sunday morning by the Director, Defence Media Operations, Maj.-Gen. Edward Buba, disclosed that troops also succeeded in arresting 24 “perpetrators of oil theft and rescued 161 kidnapped hostages across the country” in the week under review.

Buba noted that troops in the Niger Delta region denied oil thieves crude estimated to be worth the sum of Four Hundred and Forty Eight Million Five Hundred Fifty Seven Thousand Five Hundred and Ninety Naira.

According to the Army spokesman, troops in the oil rich region also discovered and destroyed 97 dugout pits, six boats, 20 storage tanks, two receivers, 16 drums and seven vehicles used in oil bunkering activities.

“Other items recovered incl 174 cooking ovens, one pumping machine and 8 illegal refining sites,” the report noted.

“Troops recovered 533,127 litres of stolen crude oil and 24,520 litres of illegally refined AGO,” he said.

Gen. Buba said that in other operation theatres, troops recovered 234 assorted weapons and 5,994 assorted ammunition.

“A breakdown of the discoveries include 131 AK47 rifles, 3 PKT guns, one M16 rifle, 43 locally fabricated gun, 21 dane guns, one 105mm gun, 2 automatic pump action guns, 18 locally fabricated pistols, 8 single barrel guns, 2 automatic pump action guns, one LG4 bomb, one MG skeleton, 3 explosive IED case, one MOWAG APC, one 81mm mortar tripod stand

“Others are; 3,120 rounds of 7.62mm special ammo, 2,195 rounds of 7.62mm NATO, 211 rounds of 9mm ammo, 99 rounds of 7.62 x 25mm ammo, 467 live cartridges, one rifle butt, 15 magazines, 2 baofeng radios, 10 vehicles, 38 motorcycles, 43 mobile phones and the sum of N871,500.00 amongst other items.”

He reiterated that the military is going to continue to be very kinetic and strong against terrorists in ongoing counter terrorism and counter insurgency operations across the country.

“Indeed, we will banish and defeat terrorism from the nation rather than bow to it.

“Troops are maintaining the momentum in neutralizing the terrorist leaders and commanders. Indeed, we remain focused in fighting for the basic safety and security of citizens of this country,” he added.