- Tinubu’s Reforms Designed to Ease Hardship, Support Vulnerable Nigerians – Edun
- Edun acknowledged the economic challenges faced by citizens
- Edun reaffirmed that the Tinubu administration’s reforms are intended to stabilise the economy
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reassured Nigerians that the Federal Government’s economic reforms are designed with a strong focus on reducing hardship for ordinary citizens, particularly the poor and vulnerable, Eko Hot Blog reports.
Speaking at the Oxford Global Think Tank Leadership Conference in Abuja on Tuesday, Edun acknowledged the economic challenges faced by citizens, including rising food and transport costs, but stressed that measures were already in place to cushion the impact of the reforms.
EDITOR’S PICK
- UniJos Student Kills Friend, Buries Him Behind House
- Nigeria Exits FATF Grey List After Major Anti-Money Laundering Reforms
- 7 Nigerian Home Remedies That Actually Work (Backed by Science)
According to him, the government has established a transparent and accountable system to provide direct financial support to 15 million households nationwide.
“Each individual beneficiary is identified by name and their National Identity Number, and payments are made digitally, either directly to their bank accounts or mobile wallets,” Edun said.
He explained that the process allows real-time monitoring of disbursements and ensures accountability. Responding to reports that some communities had yet to benefit, Edun disclosed that data would soon be published showing the names of beneficiaries who have received various tranches of payments.
Beyond cash transfers, the minister revealed that the government was implementing a ward-based development programme, designed to channel resources directly to the 8,809 wards across Nigeria’s 774 local government areas.
“The initiative will empower economically active people at the ward level by supporting small businesses, cottage industries, and local entrepreneurs to create sustainable livelihoods,” he stated.
Edun reaffirmed that the Tinubu administration’s reforms are intended to stabilise the economy while ensuring that their benefits “reach right down to the lowest levels of society.”
He also commended Nigerian youths for their resilience and for embracing values such as empathy, integrity, and responsibility, describing these as essential traits for the next generation of leaders.
Former SEC Director-General and founder of the Oxford Global Think Tank, Arunma Oteh, in her remarks, called for urgent mobilisation of long-term capital, accelerated infrastructure investment, and decentralisation of mineral resource management to unlock Nigeria’s growth potential.
Oteh, who also served as World Bank Vice President, argued that Nigeria’s infrastructure deficit remains a key obstacle to economic expansion.
“China invests about 24 percent of its GDP in infrastructure; Nigeria invests only 4–5 percent. We must raise that to at least 12 percent to bridge the gap,” she said.
She further urged the Central Bank and Ministry of Finance to scale up access to affordable finance for small businesses while supporting large-scale public works.
On mineral development, Oteh advocated for decentralising control to allow states to explore and benefit from their natural resources, thereby expanding revenue and creating jobs.
Also speaking, former CBN Governor and Emir of Kano, Sanusi Lamido Sanusi, said Nigeria’s current economic hardship was the result of delayed reforms, especially the failure to remove fuel subsidies earlier.
He explained that removing the subsidy was not only an economic necessity but a corrective measure to avert national bankruptcy.
“If we had removed it in 2012, inflation would have risen slightly and stabilised. Now we’re facing inflation above 30 percent. This is the cost of delay,” Sanusi stated.
Sanusi commended the current CBN Governor, Olayemi Cardoso, describing him as a “competent and principled professional” who has restored confidence and stability to the financial system.
FURTHER READING
- Engr. Kasali Empowers 3,000 Residents with Monthly Food Palliative Across 21 Lekki Communities
- RBK Launches Comprehensive Fumigation Exercise Across Health Centres and Public Facilities in Lekki LCDA
- EPWA President Envisions a Future of Greater Impact, Empowerment, and Inclusion for Women Across Epe Division
Click here to watch video of the week
