The federal government Tuesday said President Bola Ahmed Tinubu’s decision to remove fuel subsidy and unify exchange rates averted a national economic catastrophe of epic proportions.
It said “fuel subsidy was a Sword of Damocles that hung over Nigeria for decades. It stunted growth and set the country a-borrowing.”
Minister of information and National orientation Mohammed Idris Malagi said this in a statement to mark Tinubu’s 100 days in office.
He said “since May 29, the President has been at his duty post, working assiduously to deliver on his campaign promises as enunciated in his Renewed Hope Agenda for a better and greater Nigeria.”
The minister said although the two steps brought temporary pains to Nigerians, he hailed the federal government for rolling out palliatives to cushion their impacts.
“While these two vital steps to save the country from hitting the rocks brought momentary discomfort to Nigerians, President Tinubu has never failed in his appeal to Nigerians to see the current inconveniences as a price we must all pay to save our country from disappearing.
“Considering the people’s pains, the government rolled out intervention programmes to help cushion the unintended negative impacts of the reforms.
“These interventions include working out a minimum wage and salary increase, supporting states and local governments to enable them to cater for the most vulnerable among us, providing fertilisers to farmers, grains to households, cash transfers to people with low incomes.
“In addition to these, there are plans to roll out over 11,000 CNG buses for affordable public transportation among others,” he said.
The minister said although the current period may be challenging, the president had planted the seeds of national transformation, growth, and all-round development.
He appealed to Nigerians and the labour unions to continue to support the government and show more understanding.
“We must continue to work hard and confidently press forward to the glory of a greater Nigeria,” he said.
Malagi added that while striving to reduce the impact of the high cost of living on the citizens, the Tinubu administration had in the last 100 days, focused on redirecting Nigerian economy and removing the impediments to productivity and competitiveness so that the real sector can grow and create millions of decent jobs essential for long term economic growth.
“In the last 100 days, the government set up a Tax and Fiscal Reforms Committee that is fully at work to deepen the ongoing reforms and reposition the national economy for long-term sustainability.
“A renowned Tax and Fiscal Policy expert is leading this committee. Part of the committee’s mandate, working with the state governments, is to simplify our complicated tax system, eliminate multiple taxes, streamline regulations that negate the ease of doing business, and close the over 20 trillion annual tax gap.
“To ensure that Nigerians and businesses are not burdened with new taxes, the administration will promote efficiency in revenue collection. It will expand the tax net by ensuring that those not paying are made to pay while those not paying the correct amount are made to pay their fair share,” he said.
The federal government also said President Tinubu had within the last 100 days, worked to promote political stability by forming an inclusive government that carried all Nigerians along irrespective of ethnic and religious affiliations.
He said: “The administration has stabilised the polity and reduced tensions associated with ethnic and religious agitations by better managing our diversity.
“President Tinubu believes Nigeria’s heterogeneity is a strength to harness for national development. To strengthen the bond of national unity and social harmony, President Tinubu ensured balance in all the appointments into key government positions including that of service chiefs from diverse parts of the country.”
Malagi said the emergence of President Tinubu as the Chairman of the ECOWAS Authority of Heads of State and Government within his 100 days in office has raised the profile of Nigeria globally and within the West Africa sub-region.
“It is not by accident that Nigeria continues to enjoy the respect of the rest of the world. It is so because of the firm and principled stand of President Tinubu for the ideals of democracy, rule of law and good governance.
“Promoting the rule of law, defending constitutional order, and standing as a bulwark against military incursion into governance, especially in the Republic of Niger, where a democratic government was toppled recently,” the minister said.
