President Bola Tinubu has assured Nigerians that the Federal Government would reverse the worrisome trend in the economy.
Tinubu gave the assurance on Wednesday in Uyo, in a message to the opening of the All Nigeria Editors Conference (ANEC).
He admitted that Nigerians are currently going through tough times due to his administration’s decision to remove fuel subsidy and converge the foreign exchange rate.
He, however, described the tough times as necessary sacrifice to guarantee a better future.
“Though Nigerians are going through tough times in the short term, it is a necessary sacrifice that we must make to guarantee a better future.
“That is why we have put in place palliatives and other measures to cushion the effect of these hard times, which is a bridge to the renewed hope agenda, where we will all have lasting smiles on our faces as we turn the tide together.”
Represented by the Minister of Information, Mohammed Idris, the President said he was aware of the pains being faced by Nigerians and had taken critical steps to cushion the effects of petrol subsidy removal on the citizenry.
He listed the N35,000 wage award to civil servants, N100 billion CNG powered buses and signing of five executive orders to improve businesses, as some of the steps taken by the administration.
Others, he said, included the efforts to clear billions of dollars in inherited foreign exchange backlog, and the establishment of the committee to reduce tax burden on Nigerians.
”The pains being faced by Nigerians are necessary sacrifices we all have to make, we are all stakeholders in the development of our dear nation,” he added.
Tinubu further said that the administration was not resting, but striving to ensure a thriving and prosperous nation.
He assured that the government would welcome stimulating discussions towards the growth of the economy.
The President tasked the media to ensure truth and objectivity in the reportage of national issues.
The theme for the conference is ‘Stimulating Economic Growth, Technological Advancement: Role of the Media.’
The President said due to the economic impact of the removal of fuel subsidy, his administration has been taking all necessary measures to alleviate the resulting pain, through interventions that are designed to serve as palliatives in the short and medium-term, while the nation awaits the long-term benefits of the reforms.
He listed some of the interventions to include a provisional wage increment of N35,000 monthly for six months; establishment of an Infrastructure Support Fund for states to invest in critical areas that will create an enabling environment for businesses; launch of a N100 billion CNG bus rollout programme, to deliver CNG-powered buses, and establishment of a Presidential Committee to drive implementation; and the signing of no fewer than five Executive Orders, aimed at improving Nigeria’s business and fiscal environment, and increasing foreign exchange supply among others.
He therefore urged the editors to provide positive information that can enhance investors confidence in the country.
Tinubu added, “I urge you to provide positive media coverage that can enhance investor confidence and attract the needed investments that fuel economic development in our county. The media’s role in portraying a favourable business environment contributes to the stability of financial markets.
“Due to your role in setting agenda for the government, the media on its own can advocate for policies that promote economic growth and technological progress and follow up on these advocacies through robust engagement on your various platforms.”
He also urged the editors to fight fake news saying, “As you are aware, we are faced with the proliferation of misinformation, disinformation and false narratives which threaten the fabric of our society, and it is our collective duty to combat this menace. Through fact-checking, responsible reporting, promoting media and digital literacy, we can fortify our defences against the corrosive effects of fake news.”
The NGE President, Mr Eze Anaba, in his welcome address at the opening of the conference in Uyo on Wednesday, called on the Federal Government to take urgent steps towards resuscitating the economy.
Anaba stated that the state of the economy should be cause for concern for every Nigerian.
“A matter of concern to many in the nation today is the state of the Nigerian economy. The economy is in a dire situation, and the new administration should continue to grapple with the situation while pushing out policies for a turnaround.
“All hands must therefore be on deck in the task of reversing the trend to improve the economic situation and the well-being of Nigerians,” he said.
