Ngelale Urges Nigerians to Support Tinubu, Says President Committed to Salvaging Economy
Presidential Spokesman, Chief Ajuri Ngelale, yesterday appealed to Nigerians to continue to support the administration of President Bola Tinubu, stressing that the current economic hardship would soon be over.
He said the bold decisions by the president to remove fuel subsidy and float the Naira – actions which are blamed for the current hardship – were necessary reforms aimed at repositioning the economy as well as improving the wellbeing of Nigeria in the long-term.
In an interview monitored on Channels Television, the presidential spokesperson, he said there however appeared to be an unspoken concession among Nigerians that president was taking the right steps to reset the economy – partly because there had not been a major revolt since the reforms started.
He insisted that the reforms so far embarked upon by the current administration were the only way out as the country was headed a situation where it would have been unbale to meet its obligations as a sovereign entity.
He said the administration is currently working to resolve underlying issues in the economy particularly stabilising the local currency before fixing a new minimum wage to avoid further back and forth on the issue.
Ngelale, who spoke on sundry issues said to cushion the effect of the hardship experienced by Nigerians, the government was concluding plans to launch a consumer credit system working with the Central Bank of Nigeria (CBN) to lend trillion of naira to Nigerians in order to boost demand for consumer goods as well as incentivize manufacturers thereby creating jobs. He said the proposed student loans programme would also become operational soon.
He said the government was working closely with the central bank to introduce new incentives to the banking industry to essentially free up lending and bridging the financing gap.
He said the consumer credit initiative would ensure quality of life for Nigerians.
He said contrary to insinuations that the present administration often failed to take responsibility for its actions, the administration of former President Muhammadu Buhari needed to take responsibility for most of the events that happen during the regime. Continues online