Wale Edun: Why Nigerians are experiencing economic hardship
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has defended the economic reform of President Bola Ahmed Tinubu which has caused discomfort and increased the cost of living for Nigerians.
Edun, while speaking on Friday in Abuja at the launch of ‘Federal Civil Service Policies and Guidelines on Rewards and Recognition; Policy and Guidelines/Incentives and Consequences; Management Policy and Guidelines,’ an event which was organised by the Head of Civil Service of the Federation (HCSF), Mrs Didi Walson-Jack, as part of activities marking her 100 days in office, attributed the cause to the non-implementation of the reforms by the previous governments was one of the reasons the current reforms were painful.
According to him, “After 18 months of bold and necessary reforms that Mr President has implemented, the country has changed, and yes, the reforms were so long overdue that it caused an element of pain, discomfort, difficulty, increased cost of living. But the successes and the gains are coming through.
“Market-based pricing of foreign exchange was fully in place. The result was immediate benefit to the federal coffers, to the state coffers and the local government coffers, because an amount of 5% of GDP is what goes to subsidies.
“If you say GDP was on average, let’s say $400bn we all know what 5% of that is $20bn of funds that could be going into infrastructure, health, social services, education. And that is what it is, the flow is now coming back into government coffers to be able to be deployed in those areas,” Edun said.
He congratulated Walson-Jack for not just achieving 100 days as HCSF, but also using the platform as an opportunity to gather all and to put across her agenda with four transformative documents dealing with reward and recognition, incentives and consequence management.
He said the development was also important to Mr. President’s agenda, to his success and to his macroeconomic reforms aimed at getting inflation down, growing the economy, creating jobs and reducing poverty.
In her remarks, the head of the service said the event was part of a collective journey to redefine the ethos of public service delivery in Nigeria, setting the stage for a civil service that is professional and efficient, globally competitive, and responsive to the aspirations of all Nigerians.
“Today’s event is one of several initiatives marking my first 100 days in office. It is guided by the theme “Marching to Greatness”, a vision inspired by the Federal Civil Service anthem. This validation exercise exemplifies our unwavering commitment to charting a bold and transformative course for the civil service, laying a solid foundation for sustained progress and impactful outcomes,” Walson-Jack said.
She urged the newly promoted directors to see themselves not just as leaders but also as role models worthy of emulation.
“Today’s recognition of newly promoted directors is a testament to this commitment. We celebrate their achievements and highlight the pathways for excellence available to all civil servants,” she added.
Source: Daily Trust
