Summary of President Tinubu’s Nationwide Address:
- Fuel subsidy removal is necessary.
*Commiserates with victims’ families over the death of their loved ones.
- Urge protesters to stop the protest.
- Economy remains anemic.
- Bulk stops with him.
- Aggregate revenue has doubled to N9.1trn in H1 2024.
- Productivity gradually increasing in the non-oil sector.
- Revenue to debt-service reduced to 68% in the last 13months from 97%.
- Cleared legitimate $5bn forex backlogs.
- Moves resulted in spending more money on Nigerians.
*States are receiving record high monies ever.
- Increased oil production to 1.6mbpd
- Investors are coming back.
- $500m foreign investment signed.
- CNG launched, to reduce transport cost by 60%.
- 1million conversion kits to be distributed at little or no cost.
*To date, N45.6bn student loan processed to students and schools.
- Established N200bn consumer credit scheme.
- Ordered the release of N50bn each for NELFUND, Consumer credit from crime proceeds from EFCC.
- Secured $620m for I-DICE for digital skills.
- Introduced Skill-Up program
- N570bn released to States for livelihoods support.
- 600,000 nano businesses have benefitted from nano grants, additional 400k businesses to benefit.
- 10 MSMEs built so far, more hubs to be built, 240,000 jobs.
- N1bn each made to big manufacturers at single digit interest rate.
- To launch renewed hope housing estates, to create jobs and stimulate the economy.
- Directed tariffs be removed on rice, other foods and medicines.
- Distributed fertilizers.
- To cultivate more than 10m hectares of land to raise food production.
- Mechanized equipment on the way
- A lot of work has gone on to stabilize the economy.
- The Govt is working to improve National infrastructure.
- Let nobody misinform you that the Govt does not care about you.
- We are in a new era of renewed hope
- The results will soon be feasible to see and feel and enjoy
- The economy is recovering
- Don’t shut out the oxygen
- Security agencies should continue to maintain peace and order within the human rights convention
- Let’s choose hope over fear, unity over division, progress over stagnation
- Let no one use you to set us back
