Minister Mohammed Idris of Information and National Orientation affirms that the Nigerian Government is actively identifying and penalizing individuals who are undermining the economy.
The minister emphasized that the elimination of the petrol subsidy was a consensus among all three major candidates during their campaigns.
He expressed bewilderment at the contradiction of individuals who vehemently advocated for subsidy removal now feigning opposition, highlighting the detrimental impact of such insincerity on the nation.
Idris maintained that the President’s policies are generating positive outcomes but cautioned against viewing them as panaceas or disregarding the need for additional measures.
Emphasizing the government’s commitment to safeguarding its efforts, the minister disclosed that regulatory and enforcement agencies have been diligently investigating and sanctioning those involved in illicit activities and sabotage within the forex market.
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In a statement released in Abuja on Friday, he acknowledged the short-term challenges posed by the foundational reforms, quoting respected economists and experts. He commended the alignment of bold measures with the multifaceted and deep-rooted problems the country is addressing.
Idris expressed satisfaction with emerging results, citing a stabilizing naira and increased inflows in the foreign exchange market. However, he lamented the fierce resistance faced by the Central Bank of Nigeria (CBN) from speculators and unscrupulous entities profiting from system dysfunction.
To counteract this resistance, he highlighted the collaborative efforts of regulatory and enforcement agencies, leading to the identification, investigation, and sanctioning of individuals and organizations involved in illegal activities within the forex market.
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Concluding, Idris stressed the directive for relevant agencies to remain vigilant, ensuring the prevention of malpractices that could undermine the currency, and affirmed the government’s unwavering commitment to preserving its reform initiatives.