In a plea to the Nigerian people, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, is asking for patience as President Bola Tinubu leads the country through ongoing reforms towards a brighter future.
During a press briefing in Abuja on Wednesday, the minister urged citizens to refrain from nationwide protests, emphasizing the government’s efforts to ensure that the reforms being implemented do not disproportionately affect the poor and vulnerable.
Edun also highlighted Tinubu’s steadfast commitment to democracy, freedom of speech, and human rights, assuring the public of their preservation.
Recognizing the importance of peaceful protests, Edun stressed the need to maintain the economic progress achieved over the last 15 months.
“President Tinubu is a true democrat who upholds federalism, freedom of speech, and human rights,” affirmed Edun.
While acknowledging the challenges of the high cost of living, the minister noted that this issue is not unique to Nigeria but influenced by global factors like conflicts in Ukraine, Gaza, and Sudan, as well as the ongoing impacts of COVID-19.
Edun pointed out the significant economic strides made, stating, “We have steered the economy away from the brink of collapse.”
He attributed the increase in federal government revenue to the effective use of technology and new processes, resulting in a doubling compared to the first half of 2023.
Highlighting other achievements, Edun mentioned, “One million households, encompassing five million people, have received cash transfer benefits. In the past week alone, 300,000 payments were disbursed, demonstrating the positive impact of leveraging technology to achieve our objectives.
“Additionally, the introduction of CNG initiatives is poised to revolutionize the sector. The arrival of buses and kits in August will expedite the rollout. Our diligent preparations ensure that the upcoming changes will be impactful and quickly noticeable.
“There is imminent financing for the housing sector to make mortgages affordable for individuals, allowing them to pay for their homes over an extended period rather than a lump sum.
“Expenditures are now more controlled, transparent, and accountable, ensuring that the funds of Nigerians are used effectively.”
Edun assured the public that the burden of reforms would not disproportionately affect the poorest segments of society, outlining measures to support agriculture, small and large industries, and direct payments to households.
He also mentioned the ongoing efforts to provide financing with a nine percent interest rate for transportation costs and the upcoming deployment of CNG buses.
Appealing for patience and cooperation, the minister concluded, “Let us grant the President this valuable opportunity to propel Nigeria forward. Let us be patient, listen, and lend our support to the journey towards a better future.”