Tinubu urges Nigerians to be mindful of current economic situation, avoid abnormal profits

Nigerians have been warned by President Bola Tinubu not to take advantage of the nation’s current economic circumstances for disproportionate gain.

Nigeria’s inflation rate, according to the National Bureau of Statistics, is 28.2%, the highest since August 2005.

In an interview with The Nation on Sunday, Tinubu admitted that some of his economic policies had a “severe impact” on Nigerians and urged people not to take advantage of the circumstances in order to obtain unfair advantages.

“As your president, I am deeply aware of the economic crisis’s severe impact on Nigerians, and we are part of a global challenge with the rising costs of living. To help our people, my administration is taking proactive steps

“Moreover, we urge all Nigerians to be mindful of the current economic situation and avoid exploiting it for abnormal profits,” Tinubu said.

On the Federal Government’s conditional cash transfers to 15 million households, Tinubu said he believes in the “efficacy” of the cash transfer initiatives, adding that it will assist “the most vulnerable segments of our population”.

“I am steadfast in my belief in the efficacy of our cash transfer initiatives. These initiatives are a crucial part of our strategy to target and provide relief to the most vulnerable segments of our population, especially during the last three months of the year when the prices of basic items typically rise,” he said.