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“We Must Be Patient and Work Hard to Rebuild Nigeria’s Economy” – Tinubu

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Photo source: Google

President Bola Ahmed Tinubu has urged Nigerians to embrace hard work and patience, stating that there are no more free rides when it comes to the country’s economic realities.

He emphasized the need for the population to focus on sectors like agriculture while the government works on rebuilding and restructuring the economy.

Tinubu expressed this during a meeting with the Forum of Former Presiding Officers of the National Assembly, led by former Senate President Ken Nnamani, in Abuja.

Addressing the concerns of many citizens facing economic challenges, Tinubu acknowledged the difficulties people are experiencing, especially with rising prices and economic instability.

“I understand that people are hungry and struggling,” he said, “but we cannot continue like this.

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There is no free beer parlour anymore. We must be patient and work hard as we retool and rebuild Nigeria’s economy.”

His remarks come as his administration continues to implement significant economic reforms aimed at stabilizing the country.

Nigerians have been grappling with the effects of two major economic policies introduced shortly after Tinubu took office.

One of these was the removal of the fuel subsidy, a move that led to a sharp increase in the cost of petrol.

On his first day in office, the price of fuel tripled, and as of Friday, some filling stations in Abuja were selling petrol for between N950 and N1,100 per litre.

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Another policy, aimed at unifying the exchange rate system, resulted in a dramatic depreciation of the naira.

Before Tinubu’s presidency began on May 29, 2023, the naira was trading at around N600 to the dollar.

Now, just a few months later, the exchange rate has soared, with the naira trading at over N1,500 to the dollar at the official market.

Despite these economic challenges, Tinubu has remained firm in his approach, urging Nigerians to trust in the government’s long-term strategy to rebuild the economy.

He stressed that while the current hardship is undeniable, the necessary reforms are critical for the country’s future prosperity.

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Tinubu’s call for patience and hard work reflects his administration’s belief that these changes, though painful, are essential for Nigeria’s economic recovery.

The president’s words highlight the significant shift in expectations for the country, as the days of relying on government subsidies and support appear to be coming to an end.

His administration is focused on fostering self-reliance and resilience among Nigerians, particularly through sectors like agriculture, which he views as key to the country’s economic revival.

As Tinubu’s policies take shape, the nation watches to see how his economic vision will unfold in the coming months.


 

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FG Extends NYSC Orientation Camp From 3 to 6 Weeks

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The Federal Government has announced an extension of the NYSC programme. It can be noted that the NYSC camp orientation is usually for three weeks before the youths go out to gain experience, employment, and serve the country for one year.

However, the FG announced that the passing-out parade from camp will be cancelled, and corps members will now spend six weeks in camp instead of three weeks.

“The first two weeks speak to laying a foundation on civic responsibility. The next two weeks will look at career mapping, basic accounting literacy skills, business planning and access to finance. The final two weeks, we intend to have focused corps-stream-specific training aligned with the corps member’s designated stream based on his choice, academic background and skills profile.”


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Is Lagos Sinking? Residents Raise Concerns as Flooding Worsens

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With the rainy season in Nigeria, many are wondering if the increase in flooding has now become the new normal. Lots of videos, clips, and complaints have literally flooded online, showing how badly roads, homes, and other places have been affected.

We were used to hearing about the rise of water on the Island since it is literally surrounded by water, but now floods are being spotted on the Mainland as well.

We may not know exactly why this is happening, but one thing is certain—we urgently need a lasting solution.


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Federal Government Clarifies Position on Proposed Tax Recommendations

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The federal government reacted to claims stating that the new tax rules will be imposed on telecommunications and petroleum products for Nigerians.

The FG released a statement to explain the process and stated that there is no intention to place taxes on telecom and petroleum products and services.

“Those recommendations do not amount to government policy and are not binding on Nigeria. Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities.”


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