My fellow Nigerians,
I converse to you at present with a heavy coronary heart and a way of accountability, conscious of the turmoil and violent protests unleashed in a few of our states.
Notably among the many protesters have been younger Nigerians who desired a greater and extra progressive nation the place their goals, hopes, and private aspirations can be fulfilled.
I’m particularly pained by the lack of lives in Borno, Jigawa, Kano, Kaduna and different states, the destruction of public services in some states, and the wanton looting of supermarkets and outlets, opposite to the promise of protest organisers that the protest can be peaceable throughout the nation. The destruction of properties units us again as a nation, as scarce sources shall be once more used to revive them.
I commiserate with the households and relations of those that have died within the protests. We should cease additional bloodshed, violence and destruction.
As President of this nation, I need to guarantee public order. In keeping with my constitutional oath to guard the lives and property of each citizen, our authorities won’t stand idly by and permit a couple of with a transparent political agenda to tear this nation aside.
Beneath the circumstances, I hereby enjoin protesters and the organisers to droop any additional protest and create room for dialogue, which I’ve at all times acceded to on the slightest alternative. Nigeria requires all arms on deck and desires us all – no matter age, celebration, tribe, faith or different divides, to work collectively in reshaping our future as a nation. To those that have taken undue benefit of this example to threaten any part of this nation, be warned: The legislation will meet up with you. There isn’t a place for ethnic bigotry or such threats within the Nigeria we search to construct.
Our democracy progresses when the constitutional rights of each Nigerian are revered and guarded. Our legislation enforcement companies ought to proceed to make sure the total safety of lives and properties of harmless residents in a accountable method.
My imaginative and prescient for our nation is one among a simply and affluent nation the place every individual could benefit from the peace, freedom, and significant livelihood that solely democratic good governance can present – one that’s open, clear and accountable to the Nigerian individuals.
For many years, our financial system has remained anaemic and brought a dip due to many misalignments which have stunted our development. Simply over a 12 months in the past, our expensive nation, Nigeria, reached some extent the place we couldn’t afford to proceed the usage of non permanent options to resolve long-term issues for the sake of now and our unborn generations. I subsequently took the painful but vital choice to take away gas subsidies and abolish a number of overseas change programs which had constituted a noose across the financial jugular of our Nation and impeded our financial growth and progress.
These actions blocked the greed and the income that smugglers and rent-seekers made. In addition they blocked the undue subsidies we had prolonged to our neighbouring international locations to the detriment of our individuals, rendering our financial system prostrate. These choices I made have been vital if we should reverse the a long time of financial mismanagement that didn’t serve us nicely. Sure, I agree, the buck stops on my desk. However I can guarantee you that I’m centered absolutely on delivering the governance to the individuals – good governance for that matter.
Prior to now 14 months, our authorities has made important strides in rebuilding the muse of our financial system to hold us right into a way forward for a lot and abundance. On the fiscal facet, mixture authorities revenues have greater than doubled, hitting over 9.1 trillion Naira within the first half of 2024 in comparison with the primary half of 2023 as a result of our efforts at blocking leakages, introducing automation, and mobilising funding creatively with out further burden on the individuals. Productiveness is progressively growing within the non-oil sector, reaching new ranges and making the most of the alternatives within the present financial atmosphere
My expensive brothers and sisters, we’ve come this far. Coming from a spot the place our nation spent 97% of all our income on debt service; we’ve been in a position to scale back that to 68% within the final 13 months. We’ve additionally cleared official excellent overseas change obligations of about $5billion with none opposed influence on our programmes.
This has given us extra monetary freedom and the room to spend extra money on you, our residents, to fund important social companies like schooling and healthcare. It has additionally led to our State, and Native Governments receiving the best allocations ever in our nation’s historical past from the Federation Account.
We’ve additionally launched into main infrastructure initiatives throughout the nation. We’re working to finish inherited initiatives essential to our financial prosperity, together with roads, bridges, railways, energy, and oil and fuel developments. Notably, the Lagos-Calabar Coastal Freeway and Sokoto-Badagry Freeway initiatives will open up 16 connecting states, creating 1000’s of jobs and boosting financial output by means of commerce, tourism and cultural integration
Our once-declining oil and fuel trade is experiencing a resurgence on the again of the reforms I introduced in Could 2024 to handle the gaps within the Petroleum Business Act. Final month, we elevated our oil manufacturing to 1.61million barrels per day, and our fuel belongings are receiving the eye they deserve. Traders are coming again, and we’ve already seen two Overseas Direct Investments signed of over half a billion {dollars} since then.
Fellow Nigerians, we’re a rustic blessed with each oil and fuel sources, however we met a rustic that had been dependent solely on oil-based petrol, neglecting its fuel sources to energy the financial system. We have been additionally utilizing our hard-earned overseas change to pay for, and subsidise its use. To deal with this, we instantly launched our Compressed Pure Fuel Initiative (CNG) to energy our transportation financial system and produce prices down. This may save over two trillion Naira a month, getting used to import PMS and AGO and unencumber our sources for extra funding in healthcare and schooling.
To this finish, we shall be distributing 1,000,000 kits of extraordinarily low or no value to business autos that transport individuals and items and who at present eat 80% of the imported PMS and AGO.
We’ve began the distribution of conversion kits and organising of conversion centres throughout the nation along with the personal sector. We consider that this CNG initiative will scale back transportation prices by roughly 60 per cent and assist to curb inflation.
Our administration has proven its dedication to the youth by organising the coed mortgage scheme. Thus far, 45.6billion Naira has already been processed for cost to college students and their respective establishments
I encourage extra of our vibrant youth inhabitants to reap the benefits of this chance. We established the Client Credit score Company with over N200billion to assist Nigerians to accumulate important merchandise with out the necessity for fast money funds, making life simpler for thousands and thousands of households. This may consequently scale back corruption and eradicate money and opaque transactions. This week, I ordered the discharge of an extra N50billion Naira every for NELFUND – the coed mortgage, and Credit score Company from the proceeds of crime recovered by the EFCC.
Moreover, we’ve secured $620million underneath the Digital and Inventive Enterprises (IDiCE) – a programme to empower our younger individuals, creating thousands and thousands of IT and technical jobs that can make them globally aggressive. These programmes embody the 3Million Technical Abilities scheme. Sadly, one of many digital centres was vandalised through the protests in Kano. What a disgrace!
As well as, we’ve launched the Talent-Up Artisans Programme (SUPA); the Nigerian Youth Academy (NIYA); and the Nationwide Youth Expertise Export Programme (NATEP).
Additionally, greater than N570 billion has been launched to the 36 states to broaden livelihood help to their residents, whereas 600,000 nano-businesses have benefitted from our nano-grants. An extra 400,000 extra nano-businesses are anticipated to learn.
Moreover, 75,000 beneficiaries have been processed to obtain our N1million Micro and Small Enterprise single-digit curiosity loans, Â beginning this month. We’ve additionally constructed 10 MSME hubs throughout the previous 12 months, created 240,000 jobs by means of them and 5 extra hubs are in progress which shall be prepared by October this 12 months.
Funds of N1billion every are additionally being made to massive producers underneath our single-digit loans to spice up manufacturing output and stimulate development.
I signed the Nationwide Minimal Wage into legislation final week, and the lowest-earning employees will now earn not less than N70,000 a month.
Six months in the past in Karsana, Abuja, I inaugurated the primary part of our bold housing initiative, the Renewed Hope Metropolis and Property. This mission is the primary of six we’ve deliberate throughout the nation’s geopolitical zones. Every of those cities will embody a minimal of 1,000 housing items, with Karsana itself set to ship 3,212 items
Along with these metropolis initiatives, we’re additionally launching the Renewed Hope Estates in each state, every comprising 500 housing items. Our purpose is to finish a complete of 100,000 housing items over the subsequent three years. This initiative shouldn’t be solely about offering houses but in addition about creating 1000’s of jobs throughout the nation in addition to stimulating financial development.
We’re offering incentives to farmers to extend meals manufacturing at inexpensive costs. I’ve directed that tariffs and different import duties ought to be eliminated on rice, wheat, maize, sorghum, medication, and different pharmaceutical and medical provides for the subsequent 6 months, within the first occasion, to assist drive down the costs.
I’ve been assembly with our Governors and key Ministers to speed up meals manufacturing. We’ve distributed fertilisers. Our goal is to domesticate greater than 10 million hectares of land to develop what we eat. The Federal Authorities will present all vital incentives for this initiative, while the states present the land, which can put thousands and thousands of our individuals to work and additional improve meals manufacturing. Prior to now few months, we’ve additionally ordered mechanized farming gear comparable to tractors and planters, value billions of Naira from the US, Belarus, and Brazil. I can affirm to you that the gear is on the best way.
My expensive Nigerians, particularly our youth, I’ve heard you loud and clear. I perceive the ache and frustration that drive these protests, and I need to guarantee you that our authorities is dedicated to listening and addressing the considerations of our residents.
However we should not let violence and destruction tear our nation aside. We should work collectively to construct a brighter future, the place each Nigerian can stay with dignity and prosperity.
The duty earlier than us is a collective one, and I’m main the cost as your President. Plenty of work has gone into stabilising our financial system and I need to keep centered on making certain that the advantages attain each single Nigerian as promised.
My administration is working very laborious to enhance and broaden our nationwide infrastructure and create extra alternatives for our younger individuals.
Let no person misinform and miseducate you about your nation or let you know that your authorities doesn’t care about you. Though there have been many dashed hopes previously, we’re in a brand new period of Renewed Hope. We’re working laborious for you, and the outcomes will quickly be seen and concrete for everybody to see, really feel, and revel in.
Allow us to work collectively to construct a brighter future for ourselves and for generations to come back. Allow us to select hope over concern, unity over division, and progress over stagnation. The financial system is recovering; Please, don’t shut out its oxygen. Now that we’ve been having fun with democratic governance for 25 years, don’t let the enemies of democracy use you to advertise an unconstitutional agenda that can set us again on our democratic journey. FORWARD EVER, BACKWARD NEVER!
In conclusion, safety operatives ought to proceed to keep up peace, legislation, and order in our nation following the required conventions on human rights, to which Nigeria is a signatory. The security and safety of all Nigerians are paramount.
Thank God — and Thanks in your consideration, and will God proceed to bless our nice Nation. Thanks very a lot.
