Acknowledging the economic challenges facing Nigeria, Minister of Budget and Economic Planning Atiku Bagudu expressed regret over the hardships being endured by citizens.
Despite the soaring foreign exchange rates and inflation figures, Bagudu staunchly defended the policies of the President Bola Tinubu-led administration.
Apologizing for the pain caused by the policies, on Wednesday at a Ministerial Sectoral Update in Abuja, Bagudu emphasised their necessity, stating, “I apologise for the pain that they (policies) may occasion, but they are necessary.”
The drastic fall of the Naira against the Dollar, from N460 to N1,480, and the sharp rise in inflation to 33.69% as of April 2024 have put immense strain on the economy and citizens’ pockets.
Despite the economic turmoil, Bagudu remained resolute in his support for the Tinubu administration’s “Renewed Hope Agenda,” asserting that the government’s strategy is on the right track to stimulate growth in Africa’s largest economy. He added, “Is our strategy right? Absolutely. We believe our strategy is right, but it requires occasional calibration.”
