During the 16th Edition of the Leadership Annual Conference and Awards, the IMF urged the Federal Government to prioritize addressing food insecurity.
The IMF applauded the recent approval of a targeted social protection system and stressed its crucial role in mitigating food insecurity in Nigeria.
Former Anambra State governor and 2023 presidential candidate, Mr Peter Obi, expressed his dedication to making Nigeria work, highlighting the urgency of combatting hardship in the country.
Additionally, former Deputy Governor (Financial Stability) of the Central Bank of Nigeria, Professor Kingsley Moghalu, proposed the sale of government assets to raise funds, emphasizing the need for economic reforms.
President Bola Tinubu assured Nigerians of the stability his economic reforms would bring.
The House of Representatives resolved to investigate various aspects, including international money transfer operators, payment gateways, and cryptocurrency exchanges, to identify threats to national security and legislative gaps.
The IMF team, led by Axel Schimmelpfennig, acknowledged Nigeria’s challenging economic outlook, with growth reaching 2.8% in 2023. The team recommended addressing food insecurity as an immediate priority, welcoming the government’s social protection system and recent initiatives in agriculture.
Governors at the Leadership event emphasized the need for Nigeria to focus on production to alleviate hardship. Governor Umar Bago of Niger State highlighted the state’s agricultural potential, attracting over $1 billion in investments. Other governors pledged to uphold honour and diligence in governance.
Professor Kingsley Moghalu outlined key reforms to stabilize forex and overcome economic challenges, including a potential $20-30 billion stabilization package from the IMF and the strategic sale of government assets. Mr Peter Obi expressed gratitude for the Leadership Politician of the Year 2023 award, emphasizing his dedication to making Nigeria prosper.
President Tinubu, represented by the Minister of Information and National Orientation, Alhaji Mohammed Idris, addressed concerns over Nigeria accepting grains from Ukraine, stating that it does not indicate a failed state. He highlighted the benefits of removing fuel subsidies and announced various initiatives, including special integration funds and investments in agriculture.
President Tinubu stressed positive economic indicators and urged the media to balance reporting on challenges and opportunities. He challenged the notion that Nigeria’s economy is in distress, emphasizing the country’s potential for transformation.
