The current food crisis in the country has been attributed to opposition elements by the Federal Government, which also revealed the discovery of 32 new smuggling routes used for exporting food items. President Bola Tinubu, represented by Vice President Kashim Shettima at the Public Wealth Management Conference in Abuja, accused those who lost in the last election of being in “political mode” and working against the nation’s interests.
President Tinubu asserted that certain forces are determined to push the country into anarchy, emphasizing the need for unity to resist them. Despite the removal of long-standing petrol subsidies and unifying foreign exchange rates, the administration faces challenges. The International Monetary Fund reports a secret reintroduction of subsidies, leading to economic instability and soaring food prices.
Tinubu, however, remains optimistic about the country’s recovery, dismissing claims that Nigeria is heading towards a Venezuela-like situation. He highlighted recent interceptions of maize trucks bound for a neighboring country, urging Nigerians to unite against forces undermining the nation.
At the conference themed “Championing Nigeria’s Economic Prosperity,” Tinubu hinted at plans to create millions of jobs by unlocking the value of public assets, aiming to raise at least $10 billion to stabilize the Naira. He emphasized the importance of optimal management of assets and transparency to attract alternative investment capital, with returns directed towards crucial sectors.
The President called on stakeholders to collaborate with the Ministry of Finance Incorporated in optimizing strategic assets, expressing hope for a brighter future. The Minister of Finance, Wale Edun, assured that government actions would lead to a drop in food prices, while MOFI announced a N100 billion Project Preparation Fund to enhance the professional management of public assets.
Notable attendees at the conference included the Governor of Cross River State, Sen. Bassey Otu, Senate Committee Chairman on Finance, Sen. Sani Musa, and CEOs of various organizations.
