The Federal Government has issued an apology to the citizens of Nigeria for the ongoing economic difficulties affecting the nation.

The statement was delivered by the Minister of Budget and Economic Planning, Atiku Bagudu, in Abuja on May 22, 2024, during the Ministerial Sectoral Update, which coincided with the one-year anniversary of President Bola Ahmed Tinubu's administration.

Minister Bagudu acknowledged the government's awareness of the hardships and expressed regret for any pain caused.

He emphasized the critical need for macroeconomic stability to attract both domestic and international investment.

He stated, "I apologise for the pain that they may occasion, but they are necessary. So, not surprisingly, the exchange rate is not yet where we want it to be. Inflation is not yet where we want it to be."

Bagudu affirmed the government's commitment to its economic strategy, noting that it requires periodic adjustments to ensure effectiveness.

He highlighted the importance of investment in addressing the underfunding of key sectors such as security, education, and social welfare.

“Is our strategy right? Absolutely. We believe our strategy is right, but it requires occasional calibration. Put good money to use.

“Nothing we do can solve the problem of underinvestment in various sectors of the economy, be it security, be it education, or be it social welfare, without restoring a macro-economy that can simulate investment in our economy, which will generate revenues for us to fix security.

“Our infrastructure is not catching up with our dreams. Our educational system and our health system are suffering from underinvestment, in addition to our other sectors, the creative economy, the digital economy, and the steel sector.”
The minister's apology has prompted a variety of reactions on social media platforms," he added.

The minister's apology has prompted a variety of reactions on social media platforms.

themagichands.ng: They have zero empathy for the citizens. They don’t care.

ashalapadrobilly: They enjoy making mockery of their citizens

joyce_apeh: They’ll still be a little hardship even if Peter Obi was to be president

kingsyno06: But not necessary for the political class.

kelvin_kertz: When A Renowned economist Okonjo Iweala was running same economy, they were same people shouting that she didn't know what she was doing. Lol, Nigerians are the best Understanding citizens in the world.

cyril_unusual: Nigerians know that getting the work done will be difficult, but that's not the point, na luuuuuut this government just dey luuuuuut