By Marvellous Nyang
August 4, 2024
President Bola Ahmed Tinubu has reaffirmed his commitment to the removal of fuel subsidies, emphasizing that this decision is critical for Nigeria’s long-term economic stability, in his address to the nation Sunday morning.
Despite the backlash from ongoing nationwide protests against rising living costs, Tinubu insisted that the reforms are necessary to address the country’s economic challenges and to pave the way for sustainable growth.
Tinubu confronting the turmoil gripping Nigeria, as violent protests erupted across several states, acknowledged the deep-seated frustrations of the populace, particularly among the youth.
He expressed his sorrow over the loss of lives and the destruction of property, urging a collective effort to restore peace and stability.
Acknowledgment of protests and loss
President Tinubu began his speech with a heavy heart, recognizing the legitimate aspirations of young Nigerians who seek a better and more progressive country.
He lamented the tragic loss of lives in states such as Borno, Jigawa, Kano, and Kaduna, and condemned the violence that accompanied the protests.
“The destruction of properties sets us back as a nation,” he stated, emphasising the need to prioritize dialogue over chaos.”
Call for dialogue and unity
In a passionate plea, the President urged protesters and organisers to suspend further demonstrations and seek constructive dialogue with the government.
“Nigeria requires all hands on deck,” he said, stressing the importance of unity across age, party, tribe, and religion.
ALSO READ: Hunger protests: President Tinubu to address Nigerians
He warned against those who would exploit the protests for political gain, declaring, “The law will catch up with you. There is no place for ethnic bigotry in the Nigeria we seek to build.”
Economic reforms and future vision
Turning to economic matters, President Tinubu outlined the significant strides his administration has made to revitalize the Nigerian economy.
He acknowledged the painful decision to remove fuel subsidies and abolish multiple foreign exchange systems, actions he deemed necessary to reverse decades of economic mismanagement.
“We could no longer afford temporary solutions to long-term problems,” he asserted, highlighting that these reforms have already led to a doubling of government revenues and a resurgence in the non-oil sector.
The President reported that Nigeria’s oil production had increased to 1.61 million barrels per day, and he announced the launch of the Compressed Natural Gas Initiative (CNG) aimed at reducing transportation costs and curbing inflation.
He also emphasized the government’s commitment to infrastructure development, with major projects underway, including the Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway, which are expected to create thousands of jobs and enhance economic output.
Commitment to youth and social services
Addressing the concerns of Nigeria’s youth, President Tinubu highlighted various initiatives aimed at empowering young people, including a student loan scheme that has already processed N45.6 billion for students.
He encouraged the youth to take advantage of these opportunities, stating, “I have heard you loud and clear. I understand the pain and frustration that drive these protests.”
The President also announced significant funding for social services, including education and healthcare, and reiterated his administration’s commitment to improving living standards through the introduction of a National Minimum Wage of N70,000 per month for the lowest-earning workers.
A vision for a prosperous nation
In his closing remarks, President Tinubu reiterated his vision for a just and prosperous Nigeria, where every citizen can enjoy peace, freedom, and meaningful livelihoods.
He called for collective action to build a brighter future, stating, “Let us choose hope over fear, unity over division, and progress over stagnation.”
He emphasized that the economy is recovering and urged citizens not to let violence undermine the progress being made.
A call for peace and cooperation
The President concluded his address by urging security operatives to maintain peace while respecting human rights, reaffirming that the safety and security of all Nigerians are paramount.
He expressed gratitude to the citizens for their attention and support, invoking a spirit of cooperation and resilience as the nation navigates these challenging times.
“Thank God, and thank you for your attention, and may God continue to bless our great Nation,” he said, leaving the audience with a message of hope and determination for a united Nigeria.
