12 key takeaways from Tinubu’s broadcast on nationwide protests

President Bola Tinubu on Sunday outlined the programmes and policies his government has put in place in the past one year, in response to widespread dissatisfaction among the majority of Nigerians who feel the government has failed to fulfill its campaign promises.

In a national broadcast addressing Nigerians following the #EndBadGovernance protests, Tinubu reiterated that his administration is focused on providing good governance to Nigerians and also defended the policies his administration has put in place that have resulted in unbearable hardship and hunger for the people.

“The decisions I made were necessary if we are to reverse decades of economic misery,” Tinubu said, justifying policies that many say are behind the current woes.

“I can assure you that I am fully focused on delivering governance to the people – good governance in this case,” he stressed.

He further stated that in the past one year, “aggregate government revenue more than doubled, reaching over N9.1 trillion in the first half of 2024 compared to the same period in 2023, due to efforts to plug leakages, introduce automation and mobilize funding creatively without additional burden on the public.”

Here are 12 key points from President Tinubu’s broadcast on his administration’s achievements in one year.

1. Infrastructure Development:

President Tinubu stressed that his government’s infrastructure projects will have a long-term impact on the economy and the Nigerian people in general.

“We are working to complete legacy projects that are critical to our economic prosperity, including roads, bridges, railways, electricity, and oil and gas development. In particular, the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Highway will open up 16 interconnected states, create thousands of jobs, and boost economic output through trade, tourism, and cultural integration.”

2. Youth Empowerment Program:

Tinubu said his government had embarked on a massive youth empowerment programme aimed at empowering the youth and making them self-reliant.

“We have secured $620 million through Digital and Creative Enterprises (IDiCE) – a programme to empower young people, creating millions of IT and technical jobs that will make them globally competitive. This programme includes the 3 Million Technical Talents scheme.”

3. Establishment of Skills Improvement Program for Craftsmen (SUPA)Nigerian Youth Academy (NIYA); and the National Youth Talent Export Programme (NATEP).

4. Student Loan Scheme:

“Our government has demonstrated its commitment to the youth by setting up a student loan scheme. To date, 45.6 billion Naira has been processed for disbursement to students and their respective institutions.”

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5. Establishment of Consumer Credit Company:

“We established the Consumer Credit Corporation with over N200 billion to help Nigerians acquire essential products without the need for direct cash payments, thereby making life easier for millions of households.”

6. Reduction of foreign debt profile:

“We have managed to reduce our debt by 68% in the last 13 months. We have also paid off our outstanding foreign exchange liabilities of approximately $5 billion without any adverse impact on our program.”

7. Oil and gas sector reform:

Tinubu claims the once-declining oil and gas industry is now experiencing a revival thanks to reforms he announced in May 2024 to address gaps in the Petroleum Industry Act.

8. Release of additional funds to states:

“N570 billion for 36 states to extend livelihood support to their citizens, while 600,000 nano businesses have benefited from our nano grants. Another 400,000 nano businesses are expected to benefit.”

9. Loans for small scale businesses:

“75,000 beneficiaries have been processed to receive the N1 million single interest loan for Micro and Small Enterprises, starting this month. We have also built 10 MSME centers in the last one year, creating 240,000 jobs through these centers and another 5 centers are under construction which will be ready by October this year.”

10. New national wage:

“I signed the National Minimum Wage into law last week, and the lowest earner will now earn at least N70,000 per month.”

11. Housing Projects:

“Six months ago in Karsana, Abuja, I launched the first phase of our ambitious housing initiative, Renewed Hope City and Estate. This project is the first of six projects we have planned across the country’s geopolitical zones. Each of these cities will comprise a minimum of 1,000 housing units, with Karsana alone providing 3,212 units.”

12. Incentives for farmers:

“We are providing incentives to farmers to increase food production at affordable prices. I have ordered that tariffs and other import duties be eliminated on rice, wheat, corn, sorghum, medicines, and other pharmaceutical and medical supplies for the next 6 months, as an initial step, to help reduce prices.”

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