Market News

By Olasunkanmi Akinlotan

The Ogun State Governor, Dapo Abiodun has allayed the fears of Nigerians over the continuous rise of the dollar stating that the global currency will soon crash against the Naira.

The governor noted that the Federal Government is doing everything to deliver on its electoral promises.

Abiodun said this on Thursday, in Abeokuta, at a stakeholders meeting held at the Cultural Center,

The governor convened the meeting on the heels of the prevailing economic hardship in the country, saying the government is not resting on its oars.

Abiodun, who drew his confidence from an emergency meeting with President Bola Tinubu earlier on Wednesday, stressed that the federal government is aware of the problems and ready to address them head-on.

Recall that Abiodun during a press briefing last week announced a N5 billion intervention fund to cushion the effect of rising cost of living and inflation in the State.

Speaking at the event, Abiodun said, “As our administration acknowledges the concerns raised by many of our citizens regarding the rising food prices and shortages, coupled with the depreciation of the Naira, we identify with you and are taking proactive measures to alleviate the impact of these challenges to guarantee the welfare, well-being and wellness of our citizens in this difficult time.

“In this direction and through targeted interventions, we aim to address these challenges by implementing a series of phased initiatives aimed at alleviating these burdens on all our citizens.

“The State has taken the following steps: Education Sector: Providing a minimum of 5 exercise books for all 850,000 students in our public primary and secondary schools.

“We are providing a one-time N10,000 education support grant for at least 100,000 pupils in our public primary and secondary schools in the state. Providing all 27,600 indigent students in tertiary institutions nationwide with an education grant of N50,000 each.”

The governor added that his administration would provide health insurance that will cover over 70,000 beneficiaries including pregnant women, children, the elderly, market women and other members of the informal sector.

According to the governor, while pregnant women, under the Ibidero Scheme would be provided with free prenatal care, an additional N5,000 per birth and free post-natal care in the State Hospitals and Primary Health Care Centers across the State has also been activated.

Governor Abiodun stated that provision would be made for food palliatives to include rice and other food items for about 300,000 households across the State.

His words, “The State Government will commence to offset the backlog of inherited deductions. To this end, we are immediately committing N500 million in monthly payments towards outstanding deductions. It is noteworthy that we have continued to pay N10,000 transport allowance to all civil servants for the last 8 months.

“This brings our total immediate interventions as a responsible State Government to about N5 billion across all sectors of the State economy.”

He further promised that his administration would not be insensitive to the challenges being faced by the citizens, appreciating the people for their perseverance, patience and understanding.

“Let me assure you that the present economic situation is just a transient phase that will soon pass. Whatever we experience now are just necessary sacrifices that we have to make towards ensuring a greater tomorrow.

“In a special way, we extend our appreciation to the President and Commander-In-Chief of Armed Forces of the Federal Republic of Nigeria, His Excellency, Bola Ahmed Tinubu, GCFR for his continuous efforts in navigating the complexities of our nation’s economic landscape.

“His dedication to steering the ship through turbulent times has not gone unnoticed.”

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