On Sunday, President Bola Tinubu delivered his second nationwide address since taking office, marking Nigeria’s 63rd Independence Anniversary.
In his speech, President Tinubu reiterated his commitment to revitalizing and modernizing the economy while ensuring the safety and well-being of the citizens.
He also emphasized several key points:
1. President Tinubu acknowledged the temporary pain caused by government reforms, such as the removal of fuel subsidies and the unification of foreign exchange rates, urging citizens to endure these changes.
2. The government is actively working to alleviate the burden on the people through various measures.
3. A provisional wage increase of N25,000 will be granted to low-income workers for the next six months.
4. Financial support will be provided to states to help them offer relief packages to combat the impact of rising food and commodity prices.
5. Efforts are being made to reduce transportation costs, including the introduction of Compressed Natural Gas conversion kits and the establishment of training facilities for transport operators nationwide.
6. An ongoing investigation into the Central Bank of Nigeria’s past leadership will soon yield a report, and the new bank leadership will formulate monetary policies that benefit all citizens.
7. A tax reform initiative is underway to enhance tax administration efficiency and remove barriers to economic growth.
8. To address unemployment and poverty, the government is increasing its investment in Micro, Small, and Medium Enterprises (MSMEs) and expanding the social safety net to cover an additional 15 million vulnerable households.
9. Ensuring the safety of citizens remains a top priority.
10. The military will receive upgraded equipment and service chiefs have been tasked with rebuilding the country’s security services to enhance their effectiveness.
These measures collectively reflect President Tinubu’s vision and commitment to improving Nigeria’s economic stability and the well-being of its people.
