We apologise for the pain but they are necessary – FG tells Nigerians

The federal government has apologized to Nigerians for the current hardships in the country. This was issued by the Minister of Budget and Economic Planning, Atiku Bagudu, in Abuja on May 22 during the Ministerial Sectoral Update, which was part of the activities marking the first anniversary of President Bola Ahmed Tinubu’s administration

He emphasized that the solution is to restore macroeconomic stability to regain the confidence of both domestic and international investors in the Nigerian economy, and assured that this effort is being undertaken without engaging in a blame game.

He said; “And I apologise for the pain that they may cause, 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.

“Is our strategy right? Absolutely. We believe our strategy is right, but it requires occasional calibration. Put good money to use. 

“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.

“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.”