The federal government has issued an apology to citizens over the current economic hardship in the country.
This apology was delivered by the Minister of Budget and Economic Planning, Atiku Bagudu, during the Ministerial Sectoral Update in Abuja, part of the one-year anniversary activities of President Bola Ahmed Tinubu’s administration, as reported by Daily Trust.
Bagudu emphasized the government’s commitment to restoring macroeconomic stability to attract both domestic and international investors. He assured the public that the government is taking these steps without engaging in blame games.
He stated, “And I apologize for the pain that they may occasion, but they are necessary. So, not surprisingly, the exchange rate is not yet where we want it to be. Inflation is not yet where we want it to be.”
Bagudu affirmed the government’s strategy, saying, “Is our strategy right? Absolutely. We believe our strategy is right, but it requires occasional calibration. Put good money to use.”
He highlighted the issue of underinvestment, noting, “Nothing we do can solve the problem of underinvestment in various sectors of the economy, be it security, be it education, or be it social welfare, without restoring a macro-economy that can simulate investment in our economy, which will generate revenues for us to fix security.”
Bagudu further remarked on the challenges facing various sectors, adding, “Our infrastructure is not catching up with our dreams. Our educational system and our health system are suffering from underinvestment, in addition to our other sectors, the creative economy, the digital economy, and the steel sector.”
The government’s apology comes amid efforts to address these pressing economic issues and steer the country towards recovery and growth.
