By Blessing Chinagorom
Nigerian President, Bola Ahmed Tinubu has revealed that over N570 billion was released to 36 states to expand livelihood support for citizens, while 600,000 business benefitted from the nano grant and additional 400,000 more are expected to benefit, this to curb the hardship facing the country.
Tinubu who disclosed this in his nation broadcast on Sunday over the ongoing the hardship nationwide protest which has turned violent in some states said he was pained by the loss of lives in Borno, Jigawa, Kano, Kaduna and other states, and the destruction of public facilities in some states, the wanton looting of supermarkets and shops, saying contrary to the promise of protest organisers that the protest would be peaceful across the country.
He commiserated with the families and relations of those who have died in the protests and called on Nigerians to stop further bloodshed, violence and destruction, adding that in line with his constitutional oath to protect the lives and property of every citizen, his government will not stand idly by and allow a few with a clear political agenda to tear the nation apart.
The President explained that for decades, the economy has remained anaemic and taken a dip because of many misalignments that have stunted its growth. “Just over a year ago, our dear country, Nigeria, reached a point where we couldn’t afford to continue the use of temporary solutions to solve long-term problems for the sake of now and our unborn generations.
“I therefore took the painful yet necessary decision to remove fuel subsidies and abolish multiple foreign exchange systems which had constituted a noose around the economic jugular of our Nation and impeded our economic development and progress.
“These actions blocked the greed and the profits that smugglers and rent-seekers made. They also blocked the undue subsidies we had extended to our neighbouring countries to the detriment of our people, rendering our economy prostrate. These decisions I made were necessary if we must reverse the decades of economic mismanagement that didn’t serve us well. Yes, I agree, the buck stops on my table. But I can assure you that I am focused fully on delivering the governance to the people – good governance for that matter.
“In the past 14 months, our government has made significant strides in rebuilding the foundation of our economy to carry us into a future of plenty and abundance. On the fiscal side, aggregate government revenues have more than doubled, hitting over 9.1 trillion Naira in the first half of 2024 compared to the first half of 2023 due to our efforts at blocking leakages, introducing automation and mobilising funding creatively without additional burden on the people. Productivity is gradually increasing in the non-oil sector, reaching new levels and taking advantage of the opportunities in the current economic ambience”.
“Speaking further about the steps taking to curb hardship, Tinubu said 75,000 beneficiaries have been processed to receive the govt N1 million Micro and Small Business single-digit interest loans, starting this month, also built 10 MSME hubs within the past year, created 240,000 jobs through them adding that 5 more hubs are in progress that will be ready by October this year.
“According to him, Payments of N1billion each are also being made to large manufacturers under our single-digit loans to boost manufacturing output and stimulate growth. I signed the National Minimum Wage into law last week, and the lowest-earning workers will now earn at least N70,000 a month.
“Six months ago in Karsana, Abuja, I inaugurated the first phase of our ambitious housing initiative, the Renewed Hope City and Estate. This project is the first of six we have planned across the nation’s geopolitical zones. Each of these cities will include a minimum of 1,000 housing units, with Karsana itself set to deliver 3,212 units
“In addition to these city projects, we are also launching the Renewed Hope Estates in every state, each comprising 500 housing units. Our goal is to complete a total of 100,000 housing units over the next three years. This initiative is not only about providing homes but also about creating thousands of jobs across the nation as well as stimulating economic growth.
*We are providing incentives to farmers to increase food production at affordable prices. I have directed that tariffs and other import duties should be removed on rice, wheat, maize, sorghum, drugs, other pharmaceutical and medical supplies for the next 6 months, in the first instance, to help drive down the prices”.
The President said he has met with Governors and key Ministers to accelerate food production and have distributed fertilisers. “Our target is to cultivate more than 10 million hectares of land to grow what we eat. The Federal Government will provide all necessary incentives for this initiative, whilst the states provide the land, which will put millions of our people to work and further increase food production.
“In the past few months, we have also ordered mechanized farming equipment such as tractors and planters, worth billions of Naira from the United States, Belarus, and Brazil. I can confirm to you that the equipment is on the way, he disclosed.
The President said he has heard the youths loud and clear and he understand the pain and frustration that drive these protests, while assured them that his government is committed to listening and addressing the concerns of its citizens. “But we must not let violence and destruction tear our nation apart. We must work together to build a brighter future, where every Nigerian can live with dignity and prosperity”.
He said the task before the nation is a collective one, and he is leading the charge as Nigerian President, saying a lot of work has gone into stabilising the economy and he must stay focused on ensuring that the benefits reach every single Nigerian as promised. “My administration is working very hard to improve and expand our national infrastructure”.
Tinubu said, “Let nobody misinform and miseducate you about your country or tell you that your government does not care about you. Although there have been many dashed hopes in the past, we are in a new era of Renewed Hope. We are working hard for you, and the results will soon be visible and concrete for everyone to see, feel, and enjoy.
“Let us work together to build a brighter future for ourselves and for generations to come. Let us choose hope over fear, unity over division, and progress over stagnation. The economy is recovering; Please, don’t shut out its oxygen. Now that we have been enjoying democratic governance for 25 years, do not let the enemies of democracy use you to promote an unconstitutional agenda that will set us back on our democratic journey”.
