Category: Economy

Obasempire reports that President Bola Ahmed Tinubu reaffirmed his dedication to resolving the multifaceted challenges plaguing Nigeria.

In a resolute address to the Nigerian populace, via his official handle on Thursday, he outlined comprehensive strategies aimed at alleviating the nation’s burdens.

“I am committed to evolving home-grown solutions to tackle our nation’s food security challenges head-on, including setting up schemes to bolster local food production and cut out all forms of rent-seeking tied to food importation,” affirmed Tinubu.

During an emergency meeting convened at the State House, Tinubu engaged with stakeholders, including all 36 state governors, Vice-President Kashim Shettima, the National Security Adviser, the Inspector-General of Police, the Director-General of the DSS, and select ministers. Discussions centered on critical issues such as security and economic stability.

Speaking on the imperative of safeguarding lives and property, Tinubu announced the establishment of a committee comprising state governors and federal representatives to explore the viability of implementing state police forces.

Additionally, he endorsed the training and deployment of forest rangers by sub-national governments to protect vital human and natural resources across communities.”I have instructed the National Security Adviser, the Inspector-General of Police, and the Director-General of the Department of State Services to coordinate closely to ensure that security agencies in the states inspect such warehouses and take follow-up action,”

“We cannot allow speculators, hoarders, and rent seekers to undermine our efforts in ensuring that food is widely available to all Nigerians.”

“I will not establish a price control board, nor will I approve the importation of food. We must extricate ourselves from this predicament because importation only enables rent seekers to perpetrate fraud and mismanagement at our collective expense.”

“Instead, we will support our farmers with schemes that encourage them to cultivate more food for the nation.”

“We must also rapidly but thoughtfully implement our livestock development and management plans, including dairy farming and others.” Tinubu stated regarding reports of food hoarding in warehouses, particularly in Kano and other regions.

On the monetary front, Tinubu urged governors to entrust the Central Bank of Nigeria with the effective management of the nation’s monetary policy. He decried the disruptive impact of unfounded speculations on foreign exchange rates and called for adherence to designated institutional mandates.

“I urge all governors to trust the Central Bank of Nigeria with the management of our country’s monetary policy and emphasized the need for designated institutions to effectively fulfill their mandate,” Tinubu emphasized.

“The “cacophony of postulations” on the fluctuation of foreign exchange rates is adversely affecting the market. Not everyone can be an expert. If we have assigned someone a task, we must allow them to perform it. If they fail, then we must find a way to quickly remove them from the system,” he added.

In conclusion, Tinubu rallied leaders at all levels to unite in confronting Nigeria’s pressing challenges, underscoring the collective responsibility to secure a prosperous and stable future for all Nigerians.

“I also ask our governors to always prioritize the welfare and prosperity of our people in their development programs, and I asssure them that the federal government will continue to work diligently to improve the nation’s revenue profile.”

“As leaders, we must all work together to address issues of insecurity, food security, and out-of-school children,” he concluded.