The President of the Commerce Union Congress, Festus Osifo, remarked that the optimism conveyed in President Bola Tinubu’s New Yr speech doesn’t align with the present financial situation of the nation.
The TUC President made the remark throughout his look on the Channels Tv program, Politics At the moment, on Wednesday night.
In his speech on Wednesday, President Tinubu outlined bold plans to cut back inflation, stabilize the naira, and promote financial progress.
He detailed methods for reaching these aims, together with boosting native meals manufacturing, rising the manufacturing of important medicines, and bettering credit score entry by way of the institution of the Nationwide Credit score Assure Firm.
Reacting, Osifo mentioned the presidency is doing extra of optimism than actuality.
He said “The president of a rustic is the chief salesman of a rustic, his personal main duty is to put out the message that he has laid out.
“To color a really vivid image, to color an image of a variety of goodies that might are available 2025. So he has accomplished what any president on this planet may do. So usually, from listening to the assertion and studying by way of it time and again, we may see that a variety of issues have been painted with optimism.
“So in actuality, what the president has mentioned is attempting to encourage hope, however that hope that he’s attempting to encourage, just isn’t actually in tandem with what we’ve at the moment in our financial system.”
The TUC President commented on the insurance policies of the Tinubu-led administration, stating that each financial analysts and monetary consultants have acknowledged that the federal government’s insurance policies have contributed considerably to the nation’s present challenges.
He emphasised that these insurance policies have performed a significant function in exacerbating the financial difficulties confronted by the nation.
He said “Nigerians, Nigerians know clearly that a variety of these insurance policies have led to challenges, and have led to difficulties that we face right now.
“At the moment our trade fee is about 1,600, relying on the parallel market or The Nigerian Autonomous Overseas Trade Fixing, Additionally it is these insurance policies which have additionally introduced in regards to the inflation that we’ve right now.
“We’ve been informed, for instance, that inflation goes to come back down to fifteen% by 2025.
“We’ve been informed, for instance, that our crude oil manufacturing goes to rise to about 2.06 million barrels per day. We’ve additionally been informed, as properly, that the steadiness of funds, we’ve been informed how a lot we’re going to borrow to finance our funds. So all these that the president has mentioned, we’ve taken the brighter ones.
‘Once you now analyze them, what are the parameters which were put in place? What are these particulars which were put in place that we will see that really it’s not simply talkism, that really what the president is saying, there are actions to match them.”