…Clarifies relocation of CBN, FAAN departments, dismisses marginalisation claims

…Nigerians encouraged to embrace FG’s cost-saving interventions for economic relief

…Indian businesses begin fulfilling $14bn investment pledge in Nigeria

The Federal Government has announced a series of measures aimed at combating the country’s inflation and stabilising the foreign exchange rates, in a bid to foster a conducive environment for business and investment.

The move comes amid widespread concerns over the economic and security challenges facing the nation.

In a statement yesterday released by the Minister of Information and National Orientation, Mohamed Idris, the government acknowledged the hardships imposed by inflation on the populace and the persistent security threats in various regions.

However, it also pointed out the government’s proactive stance in addressing these issues.

Under the leadership of President Bola Ahmed Tinubu, the Federal Government is implementing “various bold measures” to tackle the challenges head-on.

The statement read, “There is no downplaying the reality of the challenging season that we find ourselves in as a nation: the impact of inflation on personal and household budgets, and the threats to security in parts of the country.

“But that is only part of the story. Just as important are the various bold measures that the Federal Government of Nigeria, under the leadership of President Bola Ahmed Tinubu, is taking to decisively confront all of these challenges. We fully acknowledge the duty and the responsibility of care that the Federal Government owes to every Nigerian, across the lines of age, gender, religion, ethnicity, and social class.

“In the area of security, all threats are being boldly confronted. We are taking the fight to the criminals’ dens, with promising results. Within the last week, several bandits, kidnappers and militants have been neutralised or arrested.

“The resurgent crisis in Plateau State is indeed highly regrettable, and we assure that all perpetrators of violence there, and everywhere else in the country, are being brought to book. Justice will be done, and peace will be restored in all affected communities. We salute the gallantry of security and intelligence agencies who are leaving no stone unturned to ensure that we are safe in our homes and on the highways, and that criminals have no breathing space.” it reads.

…FG clarifies relocation of CBN, FAAN departments, dismisses marginalisation claims

Also, The Federal Government has denied that the relocation of certain departments of the Central Bank of Nigeria (CBN) and the Federal Airports Authority of Nigeria (FAAN) from Abuja to Lagos State is a political move intended to marginalize a particular region of the country.

The CBN recently announced that it would be relocating some of its departments from Abuja to Lagos.

In response to the criticism surrounding the relocation, the Minister of Information and National Orientation, Mohammed Idris, issued a statement on Sunday, January 28, 2024, stating that the allegations of demoting the Northern part of the country were baseless.

“Even as we tackle our challenges with urgency and dedication, it is also necessary to remind all Nigerians of the need to resist all forces and narratives of misinformation and division.”

The statement further reads, “For example, it is not true that the relocation to Lagos of the Headquarters of the Federal Airports Authority of Nigeria (FAAN), and of certain departments of the Central Bank of Nigeria (CBN), are political moves aimed at marginalising a section of the country. These allegations are unfounded. Instead, these are pragmatic administrative steps to improve operational efficiency and reduce operating costs.

“I would like to urge all Nigerians to be especially mindful of all persons and groups at home and abroad, who specialise in making false and inciting claims on radio, TV and social media, as well as in peddling altered videos and images for viral dissemination. We must all stand together as one, against these forces that constantly seek to test and break the bonds that hold us.

“Regarding the economy, all relevant Ministries and Agencies of the Federal Government are working in coordinated fashion, to bring down inflation, stabilize 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.”

…Nigerians encouraged to embrace FG’s cost-saving interventions for economic relief

In the same vein, the federal government has stressed that several impactful interventions are being implemented, including a Students’ Loan Scheme, the deployment of lower-cost compressed natural gas (CNG) mass transit buses as alternatives to petrol and diesel, and various low-interest loan schemes for businesses.

The CNG interventions are expected to reduce transportation costs by more than 50 percent. Nigerians are encouraged to take advantage of these opportunities, as they have been designed for the benefit of all.

The government emphasised that building the Nigeria of their dreams requires the participation of everyone, regardless of religious faith, ethnic group, or geopolitical zone.

“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. The CNG interventions will bring down the cost of transportation by more than 50 percent. We urge Nigerians to take advantage of these opportunities as they emerge, as they have been designed for the benefit of all.

“Nigeria belongs to all of us, and the work of building the Nigeria of our dreams is one that must be done by everyone, regardless of our religious faith or ethnic group or geopolitical zone. It is for this reason that we have produced the Nigerian National Values Charter (NVC), a documentation of the social contract between Government and the citizens, as one of the ways to restore a national sense of hope, trust and solidarity.

“As part of this focus on earning the trust of Nigerians, the fight against corruption will continue, and will intensify. Determined to ensure that there are no sacred cows, and that public funds are applied wholly for the public good, President Tinubu is providing the anti-corruption agencies with the support required to fulfill their mandate.

“We will not succeed at building the Nigeria of our dreams if we insist on focusing only on our challenges and problems, and not the abundant opportunities and positive narratives that we are surrounded by. We recognize the fact that the country continues to enjoy genuine enthusiasm for investment from local and foreign investors.”

…Indian businesses begin fulfilling $14bn investment pledge in Nigeria

“In the opening weeks of 2024, our Stock Market has already put us on the global map for the impressive returns being delivered. The Indian businesses that pledged $14 billion in new investment in Nigeria on the sidelines of the G20 Summit in India in September 2023 have since started making good on those pledges. Across oil and gas, agriculture, consumer goods, renewable energy, healthcare, ICT and many other fields we are seeing global and local businesses demonstrating unshakable belief in the limitless possibilities that Nigeria embodies.

“The heartwarming exploits of our beloved Super Eagles at the ongoing African Cup of Nations in Cote d’Ivoire are another case in point; a timely reminder that the things that bind us together as one are much deeper than the things that separate and divide us.

“Let us never forget what is truly possible: that instead of division and hatred, we can live and thrive in unity and hope, assured that, despite the temporary challenges and setbacks that we face from time to time, a glorious dawn is just around the corner,” he reiterated.