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The Minister of International Affairs, Yusuf Tuggar, says the nation has not appointed a brand new set of ambassadors to its missions this 12 months due to a scarcity of cash.
He said this in Abuja in the course of the ministerial briefing on the one-year anniversary of President Bola Tinubu’s administration.
Based on him, following vital issues within the macroeconomy with respect to the depreciation of the naira, inflation, debt and others, the Ministry of International Affairs turned underfunded.
He said, “A part of the issue is the state of affairs the brand new administration got here and met. As you already know, President Tinubu, when he got here in, centered on eradicating subsidy. The entire thought is to cease subsidising consumption and give attention to subsidising manufacturing. On the identical time, the federal government was additionally dealing with different challenges.
“To chop an extended story brief, international affairs was not being funded the best way it must be and these kinds of loopholes had been exploited by the likes of Binance, so it’s a cash drawback. There isn’t a level sending out ambassadors in case you don’t have enough money them to even journey to go there. After which, in fact, to run successfully and efficaciously, you want funding, so that’s it.”
Nevertheless, Ambassador Tuggar famous that the President is conscious of the state of affairs and can appoint ambassadors sooner or later.
Additionally, he addressed the issue with the issuance of pupil visas to Nigerian college students in different international locations, stating that negotiations are happening between Nigeria and different international locations the place Nigerians are dealing with comparable issues.
What you must know
- The administration of President Bola Tinubu on assumption into workplace one 12 months in the past, launched some daring reforms together with the removing of gas subsidy and unification of the international alternate market.
- The reforms led to arguably the largest depreciation of the naira in historical past with the native forex shedding over 100% of its worth and reaching about N1600/$ on the official window.
- Whereas there have been some wild swings in 2024, there was relative stability on the foreign exchange market within the final one month, with the naira settling round N1200 to N1500.
- Additionally, inflation reached a 28-year excessive of 33.69% in April 2024 whereas meals inflation ticked 40.53% within the month.
- All these, coupled with rising recurrent expenditure, have made the President mulling the implementation of the uncared for Oronsaye report which goals to scale back the price of governance whereas bettering public effectivity.
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