CBN Governor, Budget and Finance Ministers, Address House of Representatives on Economic Challenges

Finance Minister Wale Edun and Budget Minister Atiku Bagudu have offered reassurances to Nigerians that President Bola Tinubu is actively addressing the high cost of living that citizens are currently facing. They made these remarks during a sectoral debate organized by the House of Representatives for the finance sector and stakeholders on the current cost of living, held at the plenary in Abuja.

Mr. Edun, who also serves as the coordinating minister of the economy, noted that Nigeria is in a better economic position than it was on May 29, 2023. He acknowledged the challenges arising from the removal of fuel subsidies, which have led to increased inflation and a spike in the cost of living. However, he emphasized President Tinubu’s commitment to protecting the poorest and most vulnerable segments of society. He assured that as the situation improves, there will be further interventions to assist the vulnerable in coping with the cost of living.

Mr. Bagudu echoed these sentiments, highlighting the president’s dedication to national development and his recognition of the challenges faced by the people. He emphasized ongoing investments in sectors like rail and the Nigeria National Petroleum Corporation (NNPC), expressing confidence that Nigeria is on the right path and will overcome current challenges to sustain economic growth.

CBN Governor Olayemi Cardoso expressed confidence in the positive outcomes of President Tinubu’s administration, noting that the central bank is working tirelessly to find lasting solutions to the cost of living concerns. He assured that the urgency of the matter is not lost on the CBN, and efforts are underway to address it effectively.

Peoples Gazette