Nigeria President Bola Tinubu address kontri pipo for one national broadcast on Monday evening.
Di national broadcast come as di kontri dey battle high cost of living.
Di president national broadcast touch on fuel subsidy, economy, education and odas.
President Tinubu ask Nigerians to relax as all di policies im administration dey take na for di good and betterment of di kontri.
Di Nigerian leader for im national broadcast explain say im understand di pains and sufferings wey kontri pipo dey face since di removal of fuel subsidy and sake of some goment economic policies, e however assure dem say goment no sleep as dem dey put all measure in place to make life dey easy for dem.
President Tinubu declaration, “subsidy is gone” wey im make during im inauguration bin cause confusion katakata for di kontri as e immediately affect di price of fuel and food and oda tins.
But oga Tinubu clear am say di subsidy dey cost Nigeria trillions of naira every year and na some group of pipo dey enjoy am as dem don gada plenty wealth and power sake of di subsidy and dem become serious threat to di fairness of di economy and di integrity of di democratic governance.
“Nigeria no go ever become di society e suppose be as long as such small, powerful yet unelected groups hold plenty influence ova our political economy and di institutions wey dey govern am.”
President Tinubu wey say im understand di suffering Nigerians dey go through also explain wetin goment dey do to relax pipo burden.
Just before di broadcast, di president bin don announce some palliative to relax di burden of di fuel subsidy removal on students wey dey higher institutions of learning across di kontri.
Dis na by approving di provision of buses to di student union bodies of all universities, polytechnics and colleges of education.
Keypoints from di president speech
Di Nigerian leader explain say di economy dey go through tough time sake of di price of fuel, food and di prices of oda commodities wey don go up.
Di president highlight some immediate solution im fit offer to reduce di burdens on di current economic situation wey dey affect mostly businesses, di working class plus di most vulnerable as:
- President Tinubu assure Nigerian workers say salary review dey come. E say im dey work wit labour unions to introduce a new national minimum wage for workers.”Once we agree on a new minimum wage and general upward review, we go make provision for am for immediate implementation.” Di president tok.
- Strengthen di manufacturing sector, increase dia capacity to expand and create good paying jobs.Oga Tinubu say dem go spend N75 billion between July 2023 and March 2024 to fund 75 enterprises wey get great potential to kick-start sustainable economic growth, accelerate structural transformation and improve productivity.
- Each of di 75 manufacturing enterprises go fit access N1 billion credit at 9% per annum wit maximum of 60 months repayment for long term loans and 12 months for working capital.
- Support micro, small and medium-sized enterprises and di informal sector wit N125bn.
- Order di immediate release of 200,000 Metric Tonnes of grains from strategic reserves to households across di 36 states and FCT to moderate prices. Dem go provide 225,000 metric tonnes of fertilizer, seedlings and oda inputs to farmers wey dey committed to food security agenda.
- Support expansive agricultural programme wit N200 billion out of di N500 billion wey di national assembly approve.
- Invest N100 billion between now and March 2024 to acquire 3000 units of 20-seater CNG-fuelled buses wey go dey affordable to kontri pipo.
On how removal of di fuel subsidy don help di economy, Oga Tinubu say goment don save N1trn in di two months since di removal.
E say if to say dem no comot subsidy, na smugglers and fraudsters for squander di money but now dem go channel di money for di benefit of kontri pipo.
And for di exchange rate wey no dey stable, Oga Tinubu say dem dey monitor am and di inflation on gasoline prices and go intervene if and wen necessary.
