President Bola Tinubu has stated the nation’s financial system shouldn’t be in misery as broadly assumed by many in varied quarters of the nation.
Tinubu said this on the Management Convention and Awards on Tuesday in Abuja.
The President, represented by the Minister of Info and Nationwide Orientation, Mohammed Idris, stated the nation is simply dealing with difficult instances marked with “unprecedented alternatives to reset” the financial system.
He stated his administration has made some daring selections to return Nigeria to the trail of financial prosperity, stressing that the Federal Authorities has put aside N200 billion to help Nigerian companies, along with the scholar mortgage scheme and the Compressed Pure Gasoline, CNG, autos initiative.
“I ought to begin by respectfully difficult the notion that the Nigerian financial system is in misery.
“Misery suggests helplessness, being on the mercy of one thing now we have no management over. However that’s not the case right here.
“We’re in difficult instances, little doubt, however these instances have additionally been marked by unprecedented alternatives, to reset course and to construct a brand new and sustainable financial system, away from the rent-seeking and the waste that was as soon as the order of the day,” he stated.
Based on him, because the elimination of the petrol subsidy, the funds allotted to the three tiers of the federal government have elevated.
“For the poorest and most weak amongst us, the social funding programme, at present underneath evaluation to reposition it for max influence, will help tens of millions of households with direct money transfers that can allow them to fulfill their fundamental wants.
“Since we assumed workplace in Might 2023, now we have attracted $30 billion in overseas direct funding, FDI, commitments into the true sectors of the financial system, together with manufacturing, telecoms, healthcare, oil & fuel, and others,’’ he added.
