ACCORD PARTY GARNERS SUPPORT FOR GOVERNOR ADELEKE FOR SECOND TERM. (PHOTO).

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 ACCORD PARTY GARNERS SUPPORT FOR GOVERNOR ADELEKE FOR SECOND TERM Ahead of the August 15th Osun State governorship election, Accord party has urged the people of the state to re-elect Governor Ademola Adeleke, describing his administration as one that has delivered significant progress in infrastructure, education, healthcare, security and workers' welfare. In a statement, the party's National Chairman,  Maxwell Mgbudem, said Governor Adeleke's achievements justify a second term and expressed confidence that voters would support the continuity of his administration. The party also called on the Independent National Electoral Commission and security agencies to remain neutral and ensure a free, fair, credible and transparent election. It further warned against vote buying, insisting that every valid vote must count, and described the Osun governorship election as a key test of INEC's readiness for the 2027 general election.
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WALE EDUN: ECONOMIC INSTABILITY, FX PAUCITY FORCED 800 COMPANIES TO SHUT DOWN. (PHOTO).

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 Wale Edun: Economic instability, FX paucity forced 800 companies to shut down

 

Wale Edun, minister of finance, says economic instability forced 800 companies to shut down operations.


Edun made this known on Tuesday in Abuja during the sectoral report of President Bola Tinubu’s one year in office.


The minister said the departure of these companies was not sudden.


He said issues such as market instability, unfulfilled promises, and contract breaches drove them away, but these issues have now been resolved.


“Government did inherit an unstable economy,” Edun said.


“The 800 companies or so did not make up their minds overnight. They stayed until they could stay no more.


“The conditions which sent them packing are no more. Those conditions were a foreign exchange market that was in no way fit for purpose.


“There was no liquidity. They were a general economic regime marked by instability, broken promises, lack of adherence to contracts.”


Edun said the new environment for investors involves tackling inflation, which will eventually result in lower interest rates.


This, he said, will allow investors to leverage the dynamic domestic markets to enhance their equity and invest.


On March 6, the Manufacturers Association of Nigeria (MAN) said 767 manufacturers shut down operations, while 335 became distressed, in 2023.

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