President Muhammadu Buhari on Saturday told Nigerians that he is not unmindful of the pains they go through as a result of the insecurity situation in the country, or the worsening state of the nation’s economy.
He said this during a nation-wide broadcast to mark the country’s 62nd independence anniversary.
On the security challenges bedevilling the country, the President assured Nigerians that his government would continue to do everything within its powers to reposition and strengthen the security agencies to enable them deal with all forms of security challenges.
“At the inception of this administration in 2015, I provided the funding requirements of the security agencies which was also improved in my second tenure in 2019 to enable them to surmount security challenges.
“We will continue on this path until our efforts yield the desired results. As we put in place all measures to ensure that Nigeria takes her place in the comity of nations, we recognize the importance of a well-educated populace as a panacea to most of the challenges we face.
“As we continue to de-escalate the security challenges that confronted us at inception of this administration, newer forms alien to our country began to manifest especially in the areas of kidnappings, molestations/killings of innocent citizens, banditry, all of which are being addressed by our security forces.
“I share the pains Nigerians are going through and I assure you that your resilience and patience would not be in vain as this administration continues to reposition as well as strengthen the security agencies to enable them to deal with all forms of security challenges.”
Also speaking on the worsening economic situation in the country, Buhari said he and his team had done a lot to revamp the economy.
“We are confronting current economic challenges such as debt burden, growing inflation, living standards and increasing unemployment accentuated by our growing youthful population.
“These problems are globally induced and we would continue to ensure that their negative effects are addressed in our policies.
“This administration will continue to ensure that our fiscal policies are supported by a robust and contemporary monetary policy that recognises our peculiarities in the midst of the growing global economic difficulties.
“This is evidenced by the recent Monetary Policy Committee decision to maintain all parameters, especially interest rates and marginally increased the Monetary Policy Rate (MPR) from 14% to 15.5% and the Cash Reserve Ratio (CRR) from 27.5% to 32.5%.
“It is projected that this would further insulate our economy from over exposure to uncertainties at the international market by restraining growth in core inflation,” he added.
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