Legal Nigeria

Nigerians bothered about soaring food prices, not budget – Rewane

Bismarck Rewane, the Managing Director and Chief Executive Officer of Financial Derivatives Company Limited has said Nigerians are now more preoccupied with how to cope with the soaring prices of food than with the details of the 2024 budget presented by President Bola Tinubu to the National Assembly on Wednesday.

Rewane said this while speaking on Channels Television’s ‘Business Morning’ show programme on Thursday.

According to him, the concern of the populace about the budget is its likely impacts on their daily lives rather than its technical aspects.

He pointed out that while President Bola Tinubu presented ambitious growth targets and highlighted key priorities in the 2024 budget proposal, the everyday worries of citizens revolved around the substantial rise in food costs which has made sustenance increasingly challenging.

Thus, Rewane stressed that the budget’s success would be gauged not merely by fiscal statistics, but by its tangible effects on citizens’ ability to afford essential commodities like rice, bread, and garri at reasonable prices.

He indicated that the prevailing economic difficulties, particularly heightened poverty levels, have led to a surge in mental health issues, as evidenced by the increased presence of individuals facing mental health challenges on the streets.

In emphasizing the disconnect between economic projections and ground realities, Rewane highlighted the need for the budget to have substantial impacts beyond macroeconomic figures.

He called for transparency from the government on the current economic conditions of the country.

credit: PM News