Minister of Finance Edun commends economic progress under Tinubu
Edun assured Nigerians of the President's commitment to mitigating these challenges.
Speaking before the House of Representatives on Tuesday, January 06, 2024, Edun highlighted the significant strides made since Tinubu assumed office in May 2023.
Edun explained that the country was on the brink of economic disaster before Tinubu took the reins of power. He pointed out that the implementation of the President's 8-point agenda had steered Nigeria away from an unsustainable fiscal path.
He argued that before the current administration, Nigeria faced wasteful and unsustainable expenditure, particularly regarding fuel and foreign exchange subsidies. Edun highlighted the detrimental effects of these subsidies on the economy, citing distorted incentive frameworks and rampant profiteering.
President Tinubu, under his 'Renewed Hope' agenda, promised to prioritise Nigeria's development and work tirelessly to improve the nation. Since assuming office, Tinubu has undertaken various reforms, including the removal of the controversial fuel subsidy.
While these reforms have led to increased inflation and the cost of living, Edun assured Nigerians of the President's commitment to mitigating these challenges.
Despite the economic hardships faced by Nigerians, Edun noted that Tinubu's administration is dedicated to ensuring that the most vulnerable citizens are not left behind. He highlighted the rollout of palliatives and interventions aimed at alleviating the impact of economic reforms on the populace.
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