FG mobilising MDAs to Stabilise Naira says Minister

The Federal Government says the President Bola Tinubu administration is mobilising its Ministries, Departments, and Agencies to “bring down inflation, stabilise the foreign exchange rates and create an enabling environment for business and investment.”

The government also said Nigeria’s economy would receive investment inflows worth $14bn from Indian businesses that pledged to invest in the country at the G20 Summit held last September.

While describing the recent killings in the Plateau State as “regrettable,” it vowed that its perpetrators must face justice.

The Minister of Information and National Orientation, Mohammed Idris, revealed these in a statement he signed on Sunday titled ‘Amidst challenges, Nigeria will forge ahead.’

Idris noted, “Regarding the economy, all relevant Ministries and Agencies of the Federal Government are working in a coordinated fashion to bring down inflation, stabilise foreign exchange rates, and create a truly enabling environment for business and investment.

“The Nigeria that President Tinubu seeks to build is one where no one is left behind. Impactful interventions are being rolled out, including a Students’ Loan Scheme, a Presidential Initiative to deploy lower-cost CNG mass transit buses to provide alternatives to petrol and diesel, and various low-interest loan schemes for businesses.”

It said the CNG interventions will reduce the cost of transportation by more than 50 percent, urging Nigerians to take advantage of these opportunities as they emerge, as they have been designed for the benefit of all.

On security, the FG acknowledged the recent spate of kidnapping and killings across the Federal Capital Territory and other parts of the country, including the massacre in Plateau.

At least 30 people were killed in renewed violence in the North Central State on January 24. Despite a 24-hour curfew imposed on Tuesday in Mangu local government area, The PUNCH understands that places of worship, schools and homes have been torched in more attacks.

But the FG said, “The resurgent crisis in Plateau State is indeed highly regrettable, and we assure that all perpetrators of violence there, and everywhere else in the country, are being brought to book. Justice will be done, and peace will be restored in all affected communities.”

It commended the gallantry of security and intelligence agencies, which it said “are leaving no stone unturned to ensure that we are safe in our homes and on the highways and that criminals have no breathing space.”

On Foreign Direct Investment, the Information Minister said, “The Indian businesses that pledged $14bn in new investment in Nigeria on the sidelines of the G20 Summit in India in September 2023 have since started making good on those pledges.”

On September 6, 2023, President Bola Tinubu commended Indian investors for significant investment pledges amounting to nearly $14bn committed during the Nigeria-India Presidential Roundtable and Conference on the sidelines of the G-20 Summit in New Delhi, India.

Source: The Punch Newspaper