Economy: FG apologises to Nigerians over pain, hardship – Newstrends
Connect with us

News

Economy: FG apologises to Nigerians over pain, hardship

Published

on

President Bola Ahmed Tinubu

Economy: FG apologises to Nigerians over pain, hardship

The Federal Government has issued a public apology for the hardships being experienced by Nigerians as a result of its difficult economic policies.

It stated that it recognised the pain and difficulties faced by Nigerians due to inflation and currency devaluation.

The government expressed remorse while affirming the necessity of its policies to address underlying issues.

The apology came during a press conference held to mark President Tinubu’s one-year anniversary in office. 

At the conference, the Minister of Budget and Economic Planning, Atiku Bagudu, conveyed the government’s acknowledgment of the adverse effects of its policies on the populace.

Bagudu clarified that the administration’s actions were driven by a commitment to implementing the “Renewed Hope Agenda,” a comprehensive strategy developed through meticulous analysis and consultation with stakeholders. 

READ ALSO:

He said: “If we don’t make these decisions, we may continue to… because the experience of the nations we compete with, or aspire to emulate, shows that they made those decisions long ago and that they were important.

“To address our nation’s challenges, we are implementing the Renewed Hope Agenda, which focuses on macro-economic reforms. This is necessary because low investment, low revenues, and a shrinking economy have hindered progress in various sectors, including security, education, and social welfare. Without a macro-economic environment that stimulates investment and generates revenue, we cannot effectively address these issues.

“For example, we are currently unable to produce crude oil at the levels allowed by our OPEC quota due to underinvestment in physical infrastructure and security. By prioritising macro-economic reforms, we aim to create an environment conducive to investment and growth, enabling us to tackle the pressing challenges facing our nation.”

Despite the challenges, Bagudu reaffirmed the government’s commitment to mitigating the adverse effects of reforms, particularly through a comprehensive review of social investment programs to ensure they effectively serve the wider economy.

Economy: FG apologises to Nigerians over pain, hardship

News

JUST IN: National power grid collapses again

Published

on

JUST IN: National power grid collapses again

The national power grid again collapsed on Saturday, throwing the country into total darkness.

Our correspondent reports that the grid collapsed around 3 pm.

The Enugu Electricity Distribution Company has confirmed the development.

In a statement, the DisCo said all its interface in the Transmission Company of Nigeria stations are out of supply, saying it is unable to provide services to customers in Abia, Anambra,  Ebonyi,  Enugu, and Imo States.

READ ALSO:

“The Enugu Electricity Distribution Company wishes to inform its esteemed customers of a general system collapse which occurred at 15:09 hours today, 6th July 2024. This has resulted in the loss of supply currently being experienced across the network.

“Due to this development, all our interface TCN stations are out of supply, and we are unable to provide services to our customers in Abia, Anambra,  Ebonyi,  Enugu, and Imo States.

“We are on standby awaiting detailed information of the collapse and restoration of supply from the National Control Centre, Osogbo,” a statement by the EEDC Head of Corporate Communications, Emeka Ezeh, read.

JUST IN: National power grid collapses again

Continue Reading

News

Why Peter Obi will lose in 2027 – Reno Omokri

Published

on

Reno Omokri

Why Peter Obi will lose in 2027 – Reno Omokri

Reno Omokri a Social media influencer and former aide to ex-President, Reno Omokri, says Peter Obi will not win in 2027 if he contests the presidential election.

Omokri said unlike the new Prime Minister of the United Kingdoms, Keir Starmer, Obi had no clear stand on any issue.

He said, ” One thing we learnt from the #UKElection2024 is this:  If you want to win an election, focus on telling the public what you want to do first and how you would govern the country better.

“Do not concentrate on attacking the government in power or your other opponents. You could do that, but it should not be your single issue. You have to offer a better alternative to the public.

“That is why I am amused when people think Peter Obi is coming in 2027. If he contests again, he will only lose, and worse, he will divide the opposition’s vote and make President Tinubu’s re-election easier.

READ ALSO:

“Let me ask you a question. Where does Peter Obi stand on the issues? He is against the Lagos-Calabar Coastal Highway. What are his alternatives to that policy? He attacks the Government over the continued detention of Nnamdi Kanu but does not say how he will end the insurgency in the Southeast. And worse, he even obeys IPOB’s Monday sit-at-home.

“He attacked President Tinubu for ending fuel subsidy, yet he said he would not borrow. Therefore, how would he retain subsidy without borrowing or remove it without increasing inflation?

“Other than that, what does Peter Obi really stand for? He talks about ending consumption and increasing production, but he is Nigeria’s single largest individual importer through his trading business-next supermarket.

“You see, when you are not blinded by tribalism, it is clear to see that Peter Obi is no Keir Stammer. He is just the head of the political wing of IPOB, who will set Nnamdi Kanu free and treat the secessionist tendencies of IPOB with his gloves, just as Buhari did with Boko Haram.

“Again, we know what Keir Stammer stands for. It was very clear during the campaigns. But other than his plan for “religious war” against the Muslim Ummah, and his intention to free Nnamdi Kanu, what does Peter Obi stand for?”

Why Peter Obi will lose in 2027 – Reno Omokri

Continue Reading

News

Sultan declares Sunday start of Islamic new year 1446 AH

Published

on

President-General and Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III

Sultan declares Sunday start of Islamic new year 1446 AH

The Sultan of Sokoto and President General of the Supreme Council for Islamic Affairs, Muhammad Sa’ad Abubakar, has declared Sunday, July 7, 2024, as the first day of Muharram, marking the beginning of the Islamic year 1446 after Hijrah.

This was contained in a statement signed by the Chairman, Advisory Committee on Religious Affairs, Sultanate Council, Sokoto, Sambo Junaidu, on Friday.

READ ALSO:

Junaidu stated that there was no report of sighting the moon by national and the various moon sighting committees across the country.

He said, “The national and the various moon sighting committees across the country did not receive any report on the sighting of the new moon of Muharram on Friday, 5th July, 2024, which is the 29th of Dhul’Hijja 1445 AH, hence Saturday, 6th of July, is the 30th of Dhul’Hijja.”

The Sultan felicitated Nigerian Muslims on the new year.

He urged them to continuously pray for peace, progress and development of Nigeria.

Sultan declares Sunday start of Islamic new year 1446 AH

Continue Reading

Trending