- Minister Atiku Bagudu apologized for current hardships, emphasizing the government’s commitment to restoring macroeconomic stability and investor confidence
- Bagudu highlighted the need to address underinvestment in sectors like security, education, and social welfare to achieve long-term economic growth
The federal government has apologized to the citizens for the hardships they are facing. Atiku Bagudu, the Minister of Budget and Economic Planning, expressed this apology during the Ministerial Sectoral Update, which was part of the activities marking the first anniversary of President Bola Ahmed Tinubu’s administration.
Bagudu emphasized the government’s commitment to restoring macroeconomic stability, a crucial step to regaining the confidence of both domestic and international investors in Nigeria’s economy. He assured the public that the government is focused on addressing the economic challenges without engaging in blame games.
“We apologize 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 underinvestment across various sectors, including security, education, and social welfare. Bagudu stressed that without restoring a stable macroeconomic 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 underinvestment, just like our other sectors, such as the creative economy, the digital economy, and the steel sector,” he explained.
Bagudu’s remarks underscore the government’s recognition of the citizens’ struggles and its ongoing efforts to implement long-term economic stability and growth strategies.
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