President Bola Tinubu on Sunday, outlined programs and policies his government had put in place in the last one year, as against widespread discontent from majority of Nigerians who felt the government had derailed from its campaign promises.
In a nationwide broadcast where he addressed Nigerians in the wake of the #EndBadGovernance protests, Tinubu reiterated that his administration was focused on delivering good governance to Nigerians and also defended the policies his government has put in place which had brought about unbearable hardship and hunger on citizens.
“The decisions I made were necessary if we must reverse the decades of economic mismanagement that didn’t serve us well,” Tinubu said while justifying his policies which many believe were responsible for the hardship.
“I can assure you that I am focused fully on delivering the governance to the people – good governance for that matter,” he insisted.
He further argued that in the last one year, the “aggregate government revenues have more than doubled, hitting over N9.1tn in the first half of 2024 compared to the same period in 2023, due to efforts to block leakages, introduce automation, and mobilise funding creatively without additional burden on the people.”
Here are 12 takeaways from President Tinubu’s broadcast on his government’s achievements in one year.
1. Infrastructure Development:
President Tinubu insisted that his government’s infrastructural projects will go a long way to create a lasting impact on the economy and Nigerians in general.
“We are working to complete inherited projects critical to our economic prosperity, including roads, bridges, railways, power, and oil and gas developments. Notably, the Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway projects will open up 16 connecting states, creating thousands of jobs and boosting economic output through trade, tourism and cultural integration.”
2. Youth Empowerment Programmes:
Tinubu said his government has embarked on massive youth empowerment programmes aimed at empowering the youths and making them self sufficient.
“We have secured $620 million under the Digital and Creative Enterprises (IDiCE) – a programme to empower our young people, creating millions of IT and technical jobs that will make them globally competitive. These programmes include the 3 Million Technical Talents scheme”.
3. Establishment of Skill-Up Artisans Programme (SUPA), the Nigerian Youth Academy (NIYA); and the National Youth Talent Export Programme (NATEP).
4. Student Loans Scheme:
“Our administration has shown its commitment to the youth by setting up the student loan scheme. To date, 45.6 billion Naira has already been processed for payment to students and their respective institutions”.
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5. Establishment of Consumer Credit Corporation:
“We established the Consumer Credit Corporation with over N200 billion to help Nigerians to acquire essential products without the need for immediate cash payments, making life easier for millions of households”.
6. Reduction of external debt profile:
“We have been able to reduce our debts to 68% in the last 13 months. We have also cleared legitimate outstanding foreign exchange obligations of about $5billion without any adverse impact on our programmes”.
7. Oil and gas sector reforms:
Tinubu claimed the once-declining oil and gas industry is experiencing a resurgence on the back of the reforms he announced in May 2024 to address the gaps in the Petroleum Industry Act.
8. Release of extra funds to states:
“N570 billion to the 36 states to expand livelihood support to their citizens, while 600,000 nano-businesses have benefitted from our nano-grants. An additional 400,000 more nano-businesses are expected to benefit”.
9. Loans to small scale businesses:
“75,000 beneficiaries have been processed to receive our N1million Micro and Small Business single-digit interest loans, starting this month. We have also built 10 MSME hubs within the past year, created 240,000 jobs through them and 5 more hubs are in progress 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-earning workers will now earn at least N70,000 a month”.
11. Housing Projects:
“Six months ago in Karsana, Abuja, I inaugurated the first phase of our ambitious housing initiative, the Renewed Hope City and Estate. This project is the first of six we have planned across the nation’s geopolitical zones. Each of these cities will include a minimum of 1,000 housing units, with Karsana itself set to deliver 3,212 units”
12. Incentive to farmers:
“We are providing incentives to farmers to increase food production at affordable prices. I have directed that tariffs and other import duties should be removed on rice, wheat, maize, sorghum, drugs, and other pharmaceutical and medical supplies for the next 6 months, in the first instance, to help drive down the prices”.
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