National Telescope national telescope newspaper
By Olumide Olusegun |
The Federal Government has assured that all relevant Ministries, Departments and Agencies are working to ensure that the inflation rate is reduced and the exchange rate is stabilised.
Since the removal of the fuel subsidy by President Bola Tinubu on May 29, the exchange rate has continued to increase while inflation has skyrocketed a situation which has continued to affect the value of the naira and increase the cost of commodities.
However, the Minister of Information and National Orientation, Mohammed Idris, in a statement on Sunday, titled ‘Amidst challenges, Nigeria will forget ahead’ said the Federal Government is on top of the situation.
He said, “Regarding the economy, all relevant Ministries and Agencies of the Federal Government are working in a coordinated fashion to bring down inflation, stabilise foreign exchange rates, and create a truly enabling environment for business and investment.
“The Nigeria that President Tinubu seeks to build is one where no one is left behind. Impactful interventions are being rolled out, including a Students’ Loan Scheme, a Presidential Initiative to deploy lower-cost CNG mass transit buses to provide alternatives to petrol and diesel, and various low-interest loan schemes for businesses.”
