Some financial experts on Tuesday commended President Bola Tinubu’s plan to release 200,000 metric tonnes of grains and other palliative measures to cushion the effects of fuel subsidy removal.
The experts made the commendation in Abuja, in reaction to Monday’s nationwide broadcast by the president.
Mr Uzor Emeka, a financial consultant, who commended the president for his speech, urged Nigerians to be patient with the new administration.
Emeka said that the president in his effort has ensured that prices of food items remain affordable.
“The government have had a multi-stakeholder engagement with various farmers’ associations and operators within the agricultural value chain.
“He has also ordered the release of 200,000 metric tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices.
“His government is also providing 225,000 metric tonnes of fertiliser, seedlings and other inputs to farmers who are committed to our food security agenda.
“The government also plan to support cultivation of 500,000 hectares of farmland and all-year-round farming practice remains on course.
“N200 billion out of the N500 billion approved by the National Assembly will also be disbursed,” Emeka noted.
Mrs Aisha Imam, a financial advisor, also commended Tinubu’s strategic measures to rejig the economy for sustainable growth and development after the fuel subsidy removal.
“Tinubu’s speech on the road map to addressing the pains of Nigerians is welcoming and it inspires renewed hope particularly from the perspectives of clear actionable plans to deliver value for the citizens,” Imam said.
She said that the plan to spend ₦75 billion between July 2023 and March 2024 to strengthen the manufacturing sector was also a good sign.
Imam said that the measure would help increase the capacity to expand and create good paying jobs and fund 75 enterprises with great potentials to kick start a sustainable economic growth, accelerate structural transformation and improve productivity.
“With the removal of subsidy government have saved N1 trillion, which will go a long way in helping to stabilise our economy.
“The critical sector of the economy, the Micro, Small and Medium-sized Enterprises (MSMSs) and the informal sector was not also left out.
“Also the unification of multiple exchange rates was necessary to correct the imbalances in the Nigerian economy,” she said.
On his part, Mr Olushola Yemi, called for patience, urging Nigerians to see the bigger picture.
“The president have promised to review the minimum wage, give soft loan to business owners, among others.
“It takes time for a new government to stabilise and all I see is a renewed hope era,” he said.
Yemi also appealed to the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and other strategic stakeholders to engage with the government to chart a pathway to national development by calling off the planned protest. (NAN)
