According to Financial Derivatives Company Limited’s Managing Director and CEO, Bismarck Rewane, Nigerians are more concerned with the urgent problem of growing food costs than they are with the details of Bola Tinubu’s recently unveiled 2024 budget.
Rewane noted that while discussing the budget on Channels Television’s “Business Morning,” people are primarily concerned with knowing how it would affect their day-to-day life, especially with regard to how it will affect the cost of necessities like bread, rice, and garri.
Rewane further emphasised how critical it is to gauge its effectiveness in terms of concrete impacts on citizens’ capacity to absorb the sharp rise in food prices.
Get Ready Nigerians for fuel Increase- Rewane
He emphasised that the success of the budget will be determined not just by financial figures but also by its real consequences on the capacity of the populace to purchase basic goods like bread, rice, and garri at fair rates.
He made the point that rising rates of mental health problems are a direct result of economic hardships and increased levels of poverty, as evidenced by the increasing number of people experiencing these problems on the streets.
Rewane demanded that the government be transparent about the state of the nation’s economy, highlighting the gap between macroeconomic forecasts and actual situations.
He emphasised again how the budget must address the people’s pressing needs and have an impact that goes beyond data.
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