President Bola Tinubu has stated that he understands the suffering that Nigerians are going through.
During his Sunday nationwide broadcast, he pointed out that his government is earnestly striving to lay a strong economic base for the country.
Addressing the nation on its 63rd Independence Day, Tinubu recounted his inauguration as president on May 29, where he called for an end to the fuel subsidy and several other reforms.
He said that such reforms were necessary to put the nation on the path of ‘prosperity and growth.’
‘At my inauguration, I made important promises about how I would govern this great nation. Among those promises, were pledges to reshape and modernise our economy and to secure the lives, liberty, and property of the people.’
‘I said that bold reforms were necessary to place our nation on the path of prosperity and growth. On that occasion, I announced the end of the fuel subsidy,’ he stated.
Read also: Subsidy Removal: Tinubu Only Paid The ‘Price’ – Gov Nwifuru
The President, while pointing out that reforms may causes difficulties, assured that the nation is on its path to a future where ‘hunger, poverty, and hardship are pushed into the shadows of an ever-fading past.’
The president further stated that the country will be in a position where its fruits and abundance are ‘fairly shared among all, not hoarded by a select and greedy few.’
Tinubu emphasised that Nigerians must persevere to attain a brighter future, noting that the current burdens borne by the masses should have been a thing of the past.
The President underscored that his government is making every possible effort to relieve the difficulties faced by the masses by implementing significant reforms.
He mentioned that his administration has initiated direct fiscal and monetary measures to combat inflation, promote production, guarantee the safety of lives and property, and provide increased assistance to the less privileged and the vulnerable.
Furthermore, the President conveyed the decision to grant a temporary allowance of N25,000 to junior federal workers for the upcoming half-year.
Additionally, he confirmed the establishment of an Infrastructure Support Fund that will empower states to channel resources into critical areas. These resources will encompass the funds disbursed to state governments to offer relief packages addressing the challenges posed by escalating food and other expenses.
He also shared the intention to deploy Compressed Natural Gas (CNG) buses that are “affordable and safer” nationwide. These buses will operate at a significantly reduced fuel cost, thereby benefiting transport fares.