FG Adjusting Financial Structure to Assist Nigerians—Tinubu

Once more acknowledging the economic problems facing Nigeria, President Bola Tinubu reassured the people that his government is “retooling” the banking system to help them through.

On May 29, 2023, former Lagos governor Bola Tinubu took office as President of Nigeria, stating that it had been “a very challenging time for us in the country.”

“Up till now, we are still retooling and rejigging our financial system to bring prosperity and relief to the people of this country,” the President declared on Saturday during the commissioning of the Guzape Lot II Infrastructure Project in Abuja.

The project’s completion, he said, was evidence of what could be accomplished with “diligent planning, collaboration and shared commitment to excellence.”

The Federal Capital Territory (FCT) Minister Nyesom Wike was complimented by the President for fulfilling the Federal Government’s promises to the FCT’s residents about infrastructure development.

At a difficult period for the nation, Nyesom Wike has shown remarkable leadership, Tinubu stated. You (Wike) have shown that you can assemble, manage, and keep promises in a team. Bravo. Perfectly done.

Take Up Communication Rather Than Court Cases

The President also urged FCT stakeholders to settle land problems through communication rather than litigation.

“To all of you here and the district head of Guzape or representing the district head, conversation is the answer; litigation is not the answer,” Tinubu stated.

“What should live in us is development that is centred on the people for the economic prosperity, the benefit of all.

The President asked, “What worth is the land that is blocked by these high mountains and rocks that you cannot access, nor provide drinkable water?”

It has nothing personal about it. Here I am, the President. Although I don’t own a plot here, I am mandated to provide a good quality of life and living environment by the people. That ought to be plenty for everyone of us to enjoy the blessings God has bestowed upon us as well as the happiness of dedication, perseverance, and commitment.

Other dignitaries in attendance included FCT Minister of State Mariya Mahmoud and President Femi Gbajabiamila, Chief of Staff.

As Nigerians struggle with the nation’s present economic crisis brought on by the current government’s dual policies of removing petrol subsidies and unifying forex windows, prices of food and basic necessities have skyrocketed in the recent weeks.

Minister of Finance and Coordinating Minister of the Economy Wale Edun reassured Nigerians on Sunday that food costs would decline in the upcoming months.

While food inflation at 40.5% is alarmingly high and inflation overall at 33.65%, it is actually declining month after month. It is decreasing and should do so as we finish the dry season harvest and go into the wet season harvest.

“That is the area to concentrate on and a lot of attention is being paid to raise agricultural output, lower prices, and that will be a major contributing factor to lower inflation.”

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