The Federal Government has apologised to the citizens for the hardships they are facing.
Minister of Budget and Economic Planning, Atiku Bagudu, expressed this apology during the Ministerial Sectoral Update, which was part of the activities marking the first anniversary of President Bola Ahmed Tinubus administration.
Bagudu emphasised the Governments commitment to restoring macro-economic stability, a crucial step to regaining the confidence of both domestic and international investors in Nigerias economy. He assured the public that the Government is focused on addressing the economic challenges without engaging in blame games.
We apologise for the pain that the necessary measures may cause, but they are essential, Bagudu stated. He acknowledged that the exchange rate and inflation levels are not yet at the desired points. Is our strategy right? Absolutely. We believe our strategy is correct, but it occasionally requires adjustments. We need to put good money to use.
He highlighted the importance of addressing the issue of under-investment across various sectors, including security, education, and social welfare. Bagudu stressed that without restoring a stable macro-economic environment that can stimulate investment, the Government cannot effectively generate the necessary revenues to address these sectors.
Our infrastructure is not keeping pace with our aspirations. Our educational and health systems are suffering from under-investment, just like our other sectors, such as the creative economy, the digital economy and the steel sector, he explained.
Bagudus remarks underscore the Governments recognition of the citizens struggles and its on-going efforts to implement long-term economic stability and growth strategies.
