President Bola Tinubu has urged Nigerians not to exploit the country’s current economic situation for abnormal profit.
The National Bureau of Statistics pegged the country’s inflation rate at 28.2 per cent — Nigeria’s highest since August 2005.
Tinubu in an interview with The Nation on Sunday acknowledged the “severe impact” of some of his economic policies on Nigerians urging citizens not to take advantage of the situation to accrue unfair gains.
“As your president, I am deeply aware of the economic crisis’s severe impact on Nigerians, and we are part of a global challenge with the rising costs of living. To help our people, my administration is taking proactive steps
“Moreover, we urge all Nigerians to be mindful of the current economic situation and avoid exploiting it for abnormal profits,” Tinubu said.
On the Federal Government’s conditional cash transfers to 15 million households, Tinubu said he believes in the “efficacy” of the cash transfer initiatives, adding that it will assist “the most vulnerable segments of our population”.
“I am steadfast in my belief in the efficacy of our cash transfer initiatives. These initiatives are a crucial part of our strategy to target and provide relief to the most vulnerable segments of our population, especially during the last three months of the year when the prices of basic items typically rise,” he said.
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