Information minister assures Nigerians of FG’s steps to reduce hardship of reforms

The Minister of Information and National Orientation, Alhaji Mohammed Idris, has said that the federal government is implementing various measures to ease the hardship and cushion the impact of the reforms being carried out by President Bola Tinubu’s administration.

Idris, who spoke to journalists in Abuja , said the reforms were aimed at making life better for Nigerians in the long run by improving the business environment, creating jobs, diversifying the economy, and reducing dependence on oil.

He said the government has taken various measures to ease the impact of reforms on Nigerians, such as:

Temporarily raising the minimum wage by N35,000 per month for half a year to avoid excessive inflation.

Creating an Infrastructure Support Fund for states to invest in key areas that will improve the business environment

Launching a N100 billion CNG bus rollout programme to deliver CNG-powered buses and setting up a Presidential Committee to oversee its implementation. He said this will lower transportation costs and environmental pollution, as CNG is cheaper and cleaner than petrol.

Signing five executive orders aimed at enhancing Nigeria’s business and fiscal environment and increasing foreign exchange supply. He said these include orders on ease of doing business, tax administration, procurement, the digital economy, and anti-corruption.

Setting up a Presidential Fiscal Policy and Tax Reform Committee to reform the tax system while also reducing the tax burden on Nigerians. He said the committee has submitted its first set of reform proposals to the president, which include increasing excise taxes on harmful consumption goods, rationalising tax expenditures, removing loopholes in tax laws, and improving tax compliance by strengthening revenue administration.

Completing the process for payment of a cash transfer of N25,000 monthly to 15 million of the poorest and most vulnerable households in Nigeria for three months. He said this will help them cope with the rising cost of living and cushion the effect of inflation.

Releasing 200,000 metric tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices He said this will also boost food security and prevent hunger.

Releasing 225,000 metric tonnes of fertiliser, seedlings, and other inputs to farmers across the country. He said this will increase agricultural productivity and income for farmers.

Launching an access-to-credit programme for startups and MSMEs that will provide N50 billion in conditional grants to one million businesses across Nigeria between now and March 2024 He said this would stimulate entrepreneurship and innovation in the country.

Launching the 3MTT programme that aims to develop three million technical talents by 2025, in line with the president’s vision for making Nigeria a global hub for digital jobs. He said in just two weeks since it was launched, close to 500,000 applications have been received from across Nigeria.

Launching the National Talent Export Programme (NATEP) to create one million service-export jobs over the next five years and make Nigeria a global business outsourcing hub

He said this will generate foreign exchange earnings and create employment opportunities for Nigerians. Idris asked Nigerians to support the reforms being implemented by President Tinubu, saying they are essential for achieving sustainable and inclusive growth. He also appealed to Nigerians to be patient and optimistic, as the benefits of the reforms will soon be felt by all.