A group, All Progressives Congress (APC) Initiative for Good Governance (APC-IGG) has urged Nigerian youth to hold State Governors and Local Government Chairmen accountable for economic failures instead of the Federal Government.

Amb. Musa Tsoken, the group’s National President, said this at a news conference in Abuja, while speaking on the planned nationwide protest.

According to Taken, President Bola Tinubu inherited an economy on the brink of collapse, characterized by a high level of indebtedness, with over 90 per cent of revenue mortgaged to both foreign and domestic loans.

He said in spite of the challenges, the government, under its Renewed Hope Agenda, had implemented measures to reshape the country’s economy since it came into power in May 2023

Tsoken said the measures were particularly aimed at providing a brighter future for Nigerian youth.

“One notable measure is the intervention and capitalization of Micro, Small and Medium Enterprises (MSMEs), including a N200 billion fund for various business segments across the country.

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“Specifically, N50 billion in grants have been disbursed to over one million Nano businesses equitably distributed across all Local Government Areas.

“Additionally, N150 billion in single-digit interest rate loans have been provided to hundreds of thousands of MSMEs nationwide.

“This initiative emphasizes the significant role of state and local government authorities in grassroots development,” he said.

Tsoken added that N75 billion in loans of up to N1 million each had also been distributed, along with another N75 billion allocated to large-scale manufacturers employing up to 1,000 Nigerians per industry.

He explained that these loans offered at a single-digit interest rate with a five-year moratorium were crucial for business intervention and development.

Tsoken said the Tinubu-led administration’s efforts extended to alleviating the short-term impact of fuel subsidy removal.

“To mitigate this, the government has invested N100 billion between July 2023 and March 2024 to acquire 3,000 units of 20-seater CNG-fueled buses.

“These buses will be allocated to major transportation companies based on travel intensity per capita, with participating companies accessing credit at 9 per cent annum with a 60-month repayment period.

“This responsibility also falls on state and local governments to ensure citizens benefit directly,” he said.

Tsoken said it was however regrettable that state governors and local government chairmen were not supporting and complimenting Federal Government’s efforts as expected.

He stressed that the issue of local government autonomy was crucial to reduce neglected and poor economic management by state governors.

According to him, state governments were not doing enough to positively impact the lives of citizens in their domain.

“While the new minimum wage of N70,000 approved by the Federal Government is a step in the right direction, many states are yet to pay the previous N30,000 minimum wage, and youth protests on this matter have been sparse.

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“It is disappointing to see some of the state governors, who claim to be industrialists fail to manage state investments effectively, leading to over-reliance on FAAC and possibly subsequent bankruptcy.

“The President has laid a solid foundation for agricultural and electricity sector investments, yet few states have taken advantage of these opportunities,”he said.

He said that the pressure should therefore not be solely on the President because states and local governments also played crucial role.

Tsoken said that in just one year in office, President Tinubu had made significant strides, adding that state governors must be held accountable to support his efforts.

He said if governors were supporting the efforts of the President as expected in the interest of the people, Nigeria would undoubtedly improve.

He urged youths to reconsider the path of agitation and demand transparency and accountability from influencers and leaders.

“They should opt for dialogue rather than protests. Nigeria’s renewed hope agenda promises a better future for all,” the group’s national president assured.