Tuesday, October 15, 2024 -The Tinubu-led Federal government has stated that some of its new policies are painful but must be implemented
The Vice President, Kashim Shettima said the government
empathises with the poor, but the economic policies are inevitable.
He stated this in Abuja on Monday during the 30th anniversary of the Nigerian
Economic Summit.
He defended the economic policies of the current administration, while
highlighting steps taken by the government to improve the economy.
Shettima said, “Some of the policy decisions, the policy options available are
painful, but they are almost inevitable.
“My heart and the heart of President Bola Tinubu go to the Nigerian people. We
empathise with what the poor and the young are going through in the Nigerian
nation but we have no option.
“Some of these decisions are unpopular but the truth is most often the truth
that men prepare not to hear.”
Speaking further, the vice president said the nation’s growth trajectory has
been volatile, stressing that the economy is reliant on oil revenue.
“Like many other
nations, Nigeria has experienced significant economic problems over the past
few years. The challenges have been global as well as domestic, ranging from
the COVID-19 pandemic and fluctuation of oil prices to internal security
issues, inflation and structural weaknesses in our economy.
“Nigeria’s growth trajectory has been volatile, heavily dependent on oil
revenue and unable to create enough jobs,” he added.
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