Nigerians were reassured on Wednesday by Mohammed Idris, Minister of Information and National Orientation, that job losses will not arise from government agency restructuring related to the Oronsaye Report’s implementation.
In addition, the Minister announced the restoration of direct cash transfers to low-income households, the introduction of a Social Consumer Credit Scheme to strengthen purchasing power, and the commencement of a Social Security Unemployment Programme for graduates.
This was revealed by Idris at the Ministerial Press Briefing Series (MPBS) fourth edition in Abuja.
According to him, the government’s main goals are to lower costs and boost service delivery efficiency. It does not imply that the government is trying to drive people into the labor market or lay off employees.
Idris stated that the report’s implementation, which has been
President Tinubu’s unshakable dedication to economic discipline and prudent governance is demonstrated by the complete examination of the government’s commissions, agencies, and parastatals, which has been on hold for approximately 11 years.
Through this endeavor, the information minister underscored the President’s commitment to responsible governance and fiscal prudence. In order to maintain vital services and put the interests of the country first, he gave the public the reassurance that the process of streamlining had been meticulously planned.
“President Tinubu hopes to realize significant cost savings by reducing duplication of work, expediting administrative procedures, and maximizing resource allocation through the execution of Oronsaye’s Report.
The Minister emphasized that reports from the NBS show that Nigeria saw a GDP growth of 3.46% in the fourth quarter of 2023 as opposed to 2.54% in the third quarter of 2023, and that Nigerians are starting to see the benefits of the reforms being spearheaded by the president in various sectors.
Nevertheless, he stated that the Nigerian economy has begun to show signs of improvement, noting a surge in the stock market, greater capital imports, and a GDP growth of 3.46% in the fourth quarter of 2023. He credited President Bola Ahmed Tinubu’s “pragmatic reforms” for this advancement.
According to the National Bureau of Statistics (NBS) data, capital imports increased to 66% in the fourth quarter of 2023, reversing an earlier trend.
