• About
  • Advertise
  • Contact
Saturday, May 31, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

2024 Positive Report On Nigeria Proves Atiku, Obi Wrong About Tinubu’s Reforms – TMSG

Vital News by Vital News
July 2, 2024
in Economy
0
Share on FacebookShare on Twitter

The Tinubu Media Support Group (TMSG) has said that a recent report on Nigeria by a foremost global business advisory firm, PricewaterhouseCoopers (PWC) is yet another major proof that the country is on a positive economic trajectory under President Bola Tinubu.

This, according to the group, puts a lie to the doomsday alarm of opposition elements on the state of the economy.

In a statement signed by its Chairman Emeka Nwankpa and Secretary,  Dapo Okubanjo, TMSG argued that the firm’s Economic Outlook for the first six months of the year was detailed enough to show how the Tinubu reforms have been freeing up funds for the administration’s projects including its recently announced National Construction and Household Support Programme.

It said : ” What further evidence of the good works of the President Bola Tinubu administration, since assuming office, could be clearer than the report of a global authority like PricewaterhouseCoopers on the ongoing economic reforms in Nigeria at time like this?

“PWC’s H1 2024 report was incidentally released in the middle of efforts by opposition figures to use the global cost of living crisis to de-market Nigeria under the current administration.

RelatedStories

Sidi Ould Tah Elected New President Of AfDB

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

National Sports Festival’s Impact on Ogun Economy Massive – Abiodun

Poverty Alleviation: TMSG Hails FG’s Fast-tracked Cash Transfer To 15 million Vulnerable Households

“But now, several days after PWC made public its Economic Outlook report, we have not heard a word from those misleading their gullible followers that they could do a better job than our clear-headed President Bola Tinubu

“For the avoidance of doubt, this is what PWC said in its report, ‘The reforms have yielded positive outcomes.

“FAAC disbursements increased by 91.3% from N976 billion, which was disbursed in May 2023 to N1.87 trillion in April 2024.

“The increase was driven by distributable VAT, statutory allocation, and exchange rate difference revenue.

“‘Fitch Ratings revised its outlook on Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) from Stable to Positive.

“Oil exports grew by 200.9% to N15.5 trillion in Q1 2024 from N5.15 trillion recorded in Q1 2023.

“Non-oil exports also grew by 38.5% to N1.8 trillion in Q1 2024 from N1.3 trillion recorded in Q1 2023. FDI’s grew 114% from $86 million recorded in Q2 2023 to $184 million in Q4 2023.

“Similarly, FPI’s increased to 190% from $106.9 million in Q2 2023 to $309.8 million in Q4 2023.’

“Only the thoroughly biased will see these numbers and claim that Nigeria is sinking like former Vice President Atiku Abubakar and his co-traveller, Peter Obi, have been saying for weeks to shamelessly advertise their collective cluelessness”

The TMSG also agreed with the global business advisory group on the negative impact of reforms on businesses and outlined recent initiatives by the Tinubu administration to cushion the effects.

“Like all reforms, we acknowledge the impact of the twin reforms of fuel subsidy removal and unification of the exchange rates but even the President himself knew this will happen in the short term and has been deliberate in his response.

“Unlike the shock therapy of Argentina President Javier Millei or the massive tax gambit which Kenyan authorities have hurriedly shelved amid public protests, the Tinubu administration has ingeniously put a human face on the reforms to the satisfaction of understanding Nigerian citizens.

“For example, rather than introduce a new electricity tariff that affects all electricity consumers as seen in other countries, the administration ensured that the new tariff affected only the top fifteen per cent of electricity users who account for over fifty per cent of consumption.

“Again, only recently, President Tinubu rolled out the National Construction and Household Support Programme to cover all geo-political zones in the country.

“This move is aside the quantum leap in federal allocation to the subnationals on his watch.

“Under the new programme, all 36 states and the Federal Capital Territory (FCT) will receive a one-off allocation of N10 billion each for the procurement of buses and CNG uplift programme.

” There is also a delivery of N50,000 uplift grant each to 100,000 families per state for three (3) months as well as provisions for labour unions and civil society organizations.

“In addition to all these is the deployment of N155 billion for the purchase and sale of assorted foodstuff to be distributed across the nation.

“Let us not also forget the derivable local labour in the entire gamut of ongoing construction programme featuring multi-trillion road projects such as the ongoing Lagos-Calabar Coastal Highway, the Sokoto-Badagry Highway and the Trans-Saharan Highway, which links Enugu, Abakaliki, Ogoja, Benue, Kogi, Nasarawa and Abuja, are to be prioritized.

“It is virtually a new lease of life for many Nigerians.

“All these are clear signs of a human face to reforms that are freeing up funds that the federal government ensures that the citizenry feels the positive impact,” the group explained.

However, TMSG, wants the federal authorities to take urgent steps to ensure that state governments do not play politics with the distribution of CNG buses and food supplies in their respective domains.
(vitalnewsngr.com)

Tags: EconomyratingTinubuTMSG
Previous Post

Global Economic Downturn : Dangote Calls On FG To Protect Local Industries

Next Post

Police Rescue Three Indians, Nigerian From Kidnappers in Ogun, Kill Two Suspects

Vital News

Vital News

RelatedStories

Sidi Ould Tah Elected New President Of AfDB
Economy

Sidi Ould Tah Elected New President Of AfDB

May 29, 2025
President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC
Economy

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

May 29, 2025
National Sports Festival’s Impact on Ogun Economy Massive – Abiodun
Economy

National Sports Festival’s Impact on Ogun Economy Massive – Abiodun

May 27, 2025
We Are Better Off Together, President Tinubu To Malian Leader
Economy

Poverty Alleviation: TMSG Hails FG’s Fast-tracked Cash Transfer To 15 million Vulnerable Households

May 19, 2025
Economy

Tinubu’s Nigeria First Policy, Unique, Revolutionary -TMSG

May 16, 2025
Next Post
Police Ban Sanusi, Ado Bayero From Conducting Durbar Activities During Eid -el-kabir

Police Rescue Three Indians, Nigerian From Kidnappers in Ogun, Kill Two Suspects

Kogi HOS Congratulates Governor Ododo On Tribunal Victory

Governor Ododo Promises Improved Security At CUSTECH, To Immortalise Two Slain Students

Demolition : Ogun Allocates 15 Housing Units To Residents Of Igbeba Housing Estate

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Benue NMA Demands Better Remunerations , Improved Welfare Package For Members

3 years ago
I Look Forward To Peaceful Polls, Retirement, Says President Buhari

I Look Forward To Peaceful Polls, Retirement, Says President Buhari

2 years ago

Liz Truss Is Britain’s New Prime Minister

3 years ago
Go After Terrorists, Restructure Nigeria Now – Afenifere Urges Tinubu

Tinubu Departs Abuja For Netherlands Tuesday, April 23

1 year ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN Court Dangote death drugs Economy EFCC Election elections FG Fraud gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security Senate students Tinubu
No Result
View All Result

Highlights

NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State

21 Die, 10 Missing In Niger Flood Disaster

Sidi Ould Tah Elected New President Of AfDB

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

Midterm Performance : Taraba State Rated Least In IGR, Good Governance

School Wall Collapses On Students Writing WAEC In Taraba

Trending

Death Toll From Niger Flood Disaster Rises To 115,  Many Still Missing – NSEMA
Environment

Death Toll From Niger Flood Disaster Rises To 115, Many Still Missing – NSEMA

by Vital News
May 30, 2025
0

The Niger State Emergency Management Agency (NSEMA) says death toll from the flood disaster that recently ravaged...

INEC Fixes July 20 And  August 8, 2026 For Ekiti, Osun Governorship Elections

INEC Fixes July 20 And August 8, 2026 For Ekiti, Osun Governorship Elections

May 30, 2025
Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance

Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance

May 30, 2025
NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State

NGF Expresses Sympathy, Solidarity As Flood Devastates Mokwa Community In Niger State

May 30, 2025
21 Die, 10 Missing In Niger Flood Disaster

21 Die, 10 Missing In Niger Flood Disaster

May 29, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Death Toll From Niger Flood Disaster Rises To 115, Many Still Missing – NSEMA May 30, 2025
  • INEC Fixes July 20 And August 8, 2026 For Ekiti, Osun Governorship Elections May 30, 2025
  • Kwara Community Unites Against Female Genital Mutilation, Declares Zero Tolerance May 30, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In