Don’t exploit current economic situation for abnormal profit – Tinubu tells Nigerians

President Bola Tinubu has urged Nigerians not to exploit the country’s current economic challenges for excessive profit.

Speaking in an interview with The Nation on Sunday, Tinubu acknowledged the severe impact of the economic crisis, with rising commodity prices and living costs since the removal of the petrol subsidy in May.

The National Bureau of Statistics reported a 28.2 percent inflation rate, the highest since August 2005.

Addressing the economic situation, Tinubu said, “As your president, I am deeply aware of the economic crisis’s severe impact on Nigerians.

To help our people, my administration is taking proactive steps.” He called on citizens not to take advantage of the situation for unfair gains.

Tinubu defended the federal government’s conditional cash transfer initiatives, expressing confidence in their efficacy to assist the most vulnerable segments of the population.

“I am steadfast in my belief in the efficacy of our cash transfer initiatives,” he stated. These programs are viewed as a crucial strategy to provide relief, particularly during the last three months of the year when basic item prices typically rise.

Tinubu emphasized ongoing collaboration with state governments, civil society groups, international partners, telcos, and fintechs to refine these initiatives.