President Bola Tinubu on Monday, disclosed that Nigeria’s debt service-to-revenue ratio has reduced from 97 percent to 65 percent, describing it as a positive indicator of the nation’s economic recovery.
Speaking during the swearing-in ceremony for seven new Ministers in Abuja, Tinubu expressed relief, saying “For us, it was a challenge when the nation was servicing its debt with 97 percent of its revenue; it was nothing but the end of the cliff.”
Tinubu acknowledged the challenges ahead, including a rising cost of living, but assured that his administration has implemented a new minimum wage across all sectors.
He encouraged citizens to remain resilient amidst global economic difficulties and praised the National Assembly for promptly confirming the new ministers.
The President emphasized the vital role the new ministers will play in tackling Nigeria’s urgent issues, stressing the importance of dedication to public service during difficult times.
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“I really appreciate the fact that you have taken the oath of office and are ready to serve your nation at this time of challenges,” Tinubu said.
The new Ministers sworn in include: Nentawe Yilwatda, Minister of Humanitarian Affairs and Poverty Reduction; Muhammadu Maigari Dingyadi, Minister of Labour and Employment; Bianca Odumegwu-Ojukwu, Minister of State for Foreign Affairs; Jumoke Oduwole, Minister of Industry, Trade, and Investment.
Others include: Idi Mukhtar Maiha, Minister of Livestock Development; Yusuf Abdullahi Ata, Minister of State for Housing and Urban Development; Suwaiba Said Ahmad, Minister of State for Education.
Tinubu urged the new Ministers to collaborate with his administration in tackling Nigeria’s challenges, emphasizing the importance of service in overcoming obstacles.
