The minister said the CBN’s efforts had been met with ferocious resistance from speculators and other unscrupulous players within and outside the country.
The Federal Government says it will go after economy saboteurs who are truncating its efforts in providing dividends of democracy and making life better for all Nigerians.
This is contained in a statement issued by the Minister of Information and National Orientation, Alhaji Mohammed Idris and made available to the News Agency of Nigeria (NAN) on Friday in Abuja.
According to Idris,President Bola Tinubu, since assumption of office, has made far-reaching decisions regarding his economic vision for Nigeria.
He said one of the decisions was the immediate end to the petrol subsidy regime,
The minister said the President also made a firm promise to channel the savings accruing from the removal into much-needed investments in public infrastructure, education, healthcare and social investment.
In actualising the promise, the minister said that the monthly receipts by states from the Federal Accounts Allocation Committee (FAAC) had surged since the subsidy removal.
The minister faulted the unpatriotic narrative by the opposition faulting the fuel subsidy removal
“It is instructive that the removal of the petrol subsidy was one policy decision that all the three major candidates were unanimous on, in their 2023 political campaign messaging.
“It is therefore mystifying to see people who had argued stridently for the removal, now pretending to be against it today.
“This insincerity does not augur well for our country and our democracy,” he said.
He said President Tinubu’s second most far-reaching pronouncement was his promise that the Central Bank of Nigeria (CBN) would work towards a unified exchange rate.
The minister said the CBN’s efforts had been met with ferocious resistance from speculators and other unscrupulous players within and outside the country.
He said: “The government will not allow its efforts to be jeopardised. The emerging stability of the naira is in the interest of all Nigerians.
“Nigerians should be rest assured that the government will continue to take further steps to stabilise the Naira and safeguard our economy."
The minister sought the patience and understanding of Nigerians as the government sailed through the difficult times, into a season of abundant benefits and truly renewed hope.
He said the President and his team remained resolutely committed and focused on the task of bringing immediate relief and enduring prosperity to all Nigerians.
