President Bola Ahmed Tinubu marked Nigeria's 63rd Independence Day with a significant announcement: a six-month provision of an additional N25,000 per month for low-grade workers. In his nationwide address, he outlined measures to ease economic challenges following fuel subsidy removal and exchange rate unification.
Acknowledging the need to address citizens' concerns, Tinubu emphasized public sector reforms aimed at stabilizing the economy, managing inflation, supporting the vulnerable, and ensuring security. He highlighted the extension of cash transfer programs to 15 million more vulnerable households and an Infrastructure Support Fund to enhance grassroots development.
Tinubu introduced an eco-friendly initiative with Compressed Natural Gas (CNG) buses set to reduce transport costs. New CNG conversion kits and training facilities will further enhance efficiency, benefitting both passengers and entrepreneurs.
The government's focus extends to enterprise investment and support for micro, small, and medium-sized businesses, creating opportunities for employment and urban income growth.
Despite the challenges of implementing reforms, Tinubu reiterated the necessity of enduring short-term difficulties for long-term prosperity. He emphasized the equitable distribution of the nation's wealth, ensuring that all citizens share in its abundance.
The President also addressed financial reforms, highlighting ongoing housecleaning efforts at the Central Bank and promising a more inclusive monetary policy. He emphasized the importance of prioritizing citizen safety, enhancing intelligence sharing, and rebuilding security services' capabilities.
Tinubu expressed gratitude to the National Assembly, judiciary, civil society organizations, and labor unions for their roles in Nigeria's democracy, valuing their contributions and diverse perspectives.
