The hardship in Nigeria is one that is very noticeable, and trust Nigerians, they are holding the administration of President Bola Tinubu responsible for all they are going through.
To many, if only Tinubu did not announce the end of fuel subsidies during his inauguration, perhaps things wouldn’t have been this bad.
Indeed, the federal government is not ignorant of the hardship Nigerians are faced with, hence, the government has issued an apology to the citizens for the ongoing hardship in the country.
It was during the Ministerial Sectoral Update in Abuja that the Minister of Budget and Economic Planning, Atiku Bagudu, offered the apology.
President Tinubu One-Year In Office
At the event, which aims to mark the one-year anniversary of President Tinubu, Bagudu emphasised that the solution is to restore macroeconomic stability to regain the confidence of domestic and international investors.
He noted that this effort is being undertaken without assigning blame.
He affirmed that the administration’s strategy to stabilize the economy is correct, though it requires some adjustments.
Bagudu stated, “And I apologise for the pain that they may occasion, but they are necessary.
So, not surprisingly, the exchange rate is not yet where we want it to be. Inflation is not yet where we want it to be.
The Right Strategy
“Is our strategy right? Absolutely. We believe our strategy is right, but it requires occasional calibration. Put good money to use.
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“Nothing we do can solve the problem of underinvestment in various sectors of the economy, be it security, be it education, or be it social welfare, without restoring a macro-economy that can simulate investment in our economy, which will generate revenues for us to fix security.
“Our infrastructure is not catching up with our dreams. Our educational system and our health system are suffering from underinvestment, in addition to our other sectors, the creative economy, the digital economy, and the steel sector.”