Nigerians bothered about rising food prices, not budget — Rewane
The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Bismarck Rewane, has said that Nigerians are more concerned about the rising food prices and less bothered about the 2024 budget.
According to Rewane, many Nigerians are less interested in the details of the 2024 budget recently presented to the National Assembly by President Bola Tinubu but more worried that the rising food prices are making life difficult for them.
Speaking on Channels Television’s ‘Business Morning’ show, on Thursday, the respected economist said, “In the end, budgetary arithmetics, budgetary mathematics in economics is of no use to anybody except when by this time, six months, if we are buying rice at N40,000 a bag rather than N60,000 a bag, if we are buying bread N900 a big loaf instead of N1,300 which we are doing today. If we are buying garri at lower prices.
“The people are not interested in whether the budget is balanced and what the debt is. How does it (the budget) affect their day-to-day livelihood? That is the key thing.”
He said the government must be honest with Nigerians on the economic realities, noting that people cannot start pretending to be happy.
Nigerians bothered about rising food prices, not budget — Rewane
The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Bismarck Rewane, has said that Nigerians are more concerned about the rising food prices and less bothered about the 2024 budget.
According to Rewane, many Nigerians are less interested in the details of the 2024 budget recently presented to the National Assembly by President Bola Tinubu but more worried that the rising food prices are making life difficult for them.
Speaking on Channels Television’s ‘Business Morning’ show, on Thursday, the respected economist said, “In the end, budgetary arithmetics, budgetary mathematics in economics is of no use to anybody except when by this time, six months, if we are buying rice at N40,000 a bag rather than N60,000 a bag, if we are buying bread N900 a big loaf instead of N1,300 which we are doing today. If we are buying garri at lower prices.
“The people are not interested in whether the budget is balanced and what the debt is. How does it (the budget) affect their day-to-day livelihood? That is the key thing.”
He said the government must be honest with Nigerians on the economic realities, noting that people cannot start pretending to be happy.
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