As the protest against bad governance and economic crises looms, several well meaningful Nigerians have kicked against this act.
Mr Festus Osifo,the President of The Trade Union Congress in a news conference on Thursday in Abuja said, The Trade Union Congress of Nigeria (TUC), has no plans to join the nationwide protest scheduled for the 1st of August against economic hardship in the country. According to Mr Festus Osifo,
“Nobody has asked for our collaboration so how do you expect us to participate in a protest when we do not know who is organising it or even the institution,”
In the light of this,he called on the Inspector-General of Police (I-G) to ensure that the protest was not hijacked by hoodlums waiting to take advantage of the situation. He also mentioned that,the Nigerian Police was bound by the Police Act as well as the constitution of the Federal Republic of Nigeria, to provide adequate security for protesters to ensure a peaceful protest.
On the other hand, he blamed the Nigeria Government on the economic hardship and the Federal Government’s decision to float the Naira.This is because, in a situation where everything imported into the country is paid for in foreign currency, the Naira will be at the mercy of the dollar. He urged the government to find a way of addressing challenges associated with food production.
Similarly, the Minister of finance, Mr. Wale Edun, highlighted the successes of the Government’s reforms, citing a projected budget deficit of 4% in the 2024 Fiscal Year. He also acknowledged the temporary hardships caused by the reforms but assured that Nigerians would soon benefit from the expected outcomes as the well coordinated economic policies of the Federal Government are beginning to yield results.
Also, the Minister informed that one of the major priorities of the President Bola Ahmed Tinubu-led Administration in the immediate term is to reduce food prices and focus on providing all the necessary support to increase local food production, given the impact of high food prices on inflation. He noted that efforts are underway to achieve this goal.
Edun explained the President’s commitment to the welfare of ordinary Nigerians and the Government’s efforts to ensure transparency and accountability in its social protection initiatives including but not limited to the acceleration of the direct benefit transfer programme that has now been restarted following an initial pause of the programme to improve transparency in its delivery. He mentioned that, following the resumption of payments, over 600,000 households have already received this direct transfer this week.
Hence, as part of the efforts to further improve foreign exchange liquidity and to showcase the resilience of the Nigerian financial system as economic stability takes root, the Minister announced plans for the Federal Government to issue domestic USD denominated securities of up to US$500 million, in the first instance to attract investment from Diaspora Nigerians and Nigerians with savings held abroad.
Edun acknowledged the Supreme Court’s judgment on direct payment of federation allocations to Local Government Councils, and reiterated the Government’s commitment to implementing the judgement .
The Minister affirmed that with the outcome of the first half of 2024, indeed the Nigerian economy is turning the corner; and with macro-economic stability, the economy is being well positioned for sustained and inclusive growth that creates jobs, lifts millions out of poverty, and drives domestic and foreign investments that would improve the general well-being of the average Nigerian.
Further more, while speaking to the delegations led by the Sultan of Sokoto on Thursday, the President Bola highlighted efforts of his administration to bring the government nearer to the people, adding that they are already yielding results, with the activation of the student loan programme, the consumer credit scheme, and the affirmation of fiscal autonomy for local government councils.
Mr. President warned organisers of the August 1 nationwide protests against proceeding as “we do not want to turn Nigeria into Sudan”. The president believes that, protests, fuelled by anger and hate, could degenerate into violence and set the country backwards. He stated some achievements in the country so far.
He expressed, “We are reworking the social welfare scheme to reach the ward level, which is the closest to our people. We are going to ensure that we re-establish connection with the wards again, so that we can give allowances to the poor and the vulnerable,” the president said.
“The student loans will pay for school fees. There will be monetary support for the education of our children. The consumer credit will support citizens to buy cars and houses, and they can repay gradually.
We have increased the minimum wage by more than 100 percent.”
Mr President is of the opinion that “The sponsors of protests do not love our country. They have no love for the nation. They do not understand citizenship. They have alternative passports.
The leader of the delegation, Sheikh Bala Lau, assured the President of support with prayers and more sensitization.
“Peace is paramount for us in the country. The first thing Abraham asked God for was peace and guidance,’’ he said.
