My fellow Nigerians,
1. I converse to you immediately with a heavy coronary heart and a way of duty, conscious of the turmoil and violent protests unleashed in a few of our states.
2. Notably among the many protesters have been younger Nigerians who desired a greater and extra progressive nation the place their desires, hopes, and private aspirations can be fulfilled.
3. 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 retailers, 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 will likely be once more used to revive them.
4. I commiserate with the households and relations of those that have died within the protests. We should cease additional bloodshed, violence and destruction.
5. As President of this nation, I have to guarantee public order. In step with my constitutional oath to guard the lives and property of each citizen, our authorities is not going to stand idly by and permit a number of with a transparent political agenda to tear this nation aside.
6. Below 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 palms on deck and wishes us all – no matter age, get together, 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.
7. 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 complete safety of lives and properties of harmless residents in a accountable method.
8. My imaginative and prescient for our nation is one in all 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 folks.
9. For many years, our financial system has remained anaemic and brought a dip due to many misalignments which have stunted our progress. Simply over a yr in the past, our pricey nation, Nigeria, reached a degree the place we couldn’t afford to proceed the usage of momentary options to unravel long-term issues for the sake of now and our unborn generations. I subsequently took the painful but obligatory determination to take away gasoline subsidies and abolish a number of overseas change methods which had constituted a noose across the financial jugular of our Nation and impeded our financial improvement and progress.
10. These actions blocked the greed and the earnings that smugglers and rent-seekers made. Additionally they blocked the undue subsidies we had prolonged to our neighbouring nations to the detriment of our folks, rendering our financial system prostrate. These selections I made have been obligatory if we should reverse the a long time of financial mismanagement that didn’t serve us properly. 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 folks – good governance for that matter.
11. Prior to now 14 months, our authorities has made vital strides in rebuilding the muse of our financial system to hold us right into a way forward for loads and abundance. On the fiscal aspect, 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 because of our efforts at blocking leakages, introducing automation, and mobilising funding creatively with out extra burden on the folks. Productiveness is progressively growing within the non-oil sector, reaching new ranges and profiting from the alternatives within the present financial atmosphere
12. My pricey brothers and sisters, we’ve got come this far. Coming from a spot the place our nation spent 97% of all our income on debt service; we’ve got been capable of scale back that to 68% within the final 13 months. We’ve additionally cleared reputable excellent overseas change obligations of about $5billion with none adversarial affect on our programmes.
13. This has given us extra monetary freedom and the room to spend more cash on you, our residents, to fund important social providers like training 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.
14. We’ve additionally launched into main infrastructure initiatives throughout the nation. We’re working to finish inherited initiatives important to our financial prosperity, together with roads, bridges, railways, energy, and oil and gasoline developments. Notably, the Lagos-Calabar Coastal Freeway and Sokoto-Badagry Freeway initiatives will open up 16 connecting states, creating hundreds of jobs and boosting financial output by way of commerce, tourism and cultural integration
15. Our once-declining oil and gasoline trade is experiencing a resurgence on the again of the reforms I introduced in Might 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 gasoline belongings are receiving the eye they deserve. Traders are coming again, and we’ve got already seen two Overseas Direct Investments signed of over half a billion {dollars} since then.
16. Fellow Nigerians, we’re a rustic blessed with each oil and gasoline sources, however we met a rustic that had been dependent solely on oil-based petrol, neglecting its gasoline sources to energy the financial system. We have been additionally utilizing our hard-earned overseas change to pay for, and subsidise its use. To handle 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 unlock our sources for extra funding in healthcare and training.
17. To this finish, we will likely be distributing one million kits of extraordinarily low or no value to business autos that transport folks and items and who at present eat 80% of the imported PMS and AGO.
18. We’ve began the distribution of conversion kits and establishing of conversion centres throughout the nation together with the personal sector. We imagine that this CNG initiative will scale back transportation prices by roughly 60 per cent and assist to curb inflation.
19. Our administration has proven its dedication to the youth by establishing the coed mortgage scheme. To this point, 45.6billion Naira has already been processed for cost to college students and their respective establishments
20. I encourage extra of our vibrant youth inhabitants to make the most 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 rapid money funds, making life simpler for hundreds of thousands of households. This may consequently scale back corruption and remove money and opaque transactions. This week, I ordered the discharge of a further N50billion Naira every for NELFUND – the coed mortgage, and Credit score Company from the proceeds of crime recovered by the EFCC
21. Moreover, we’ve got secured $620million beneath the Digital and Inventive Enterprises (IDiCE) – a programme to empower our younger folks, creating hundreds of thousands of IT and technical jobs that can make them globally aggressive. These programmes embody the 3Million Technical Skills scheme. Sadly, one of many digital centres was vandalised in the course of the protests in Kano. What a disgrace!
22. As well as, we’ve got launched the Talent-Up Artisans Programme (SUPA); the Nigerian Youth Academy (NIYA); and the Nationwide Youth Expertise Export Programme (NATEP).
23. Additionally, greater than N570 billion has been launched to the 36 states to increase livelihood assist to their residents, whereas 600,000 nano-businesses have benefitted from our nano-grants. A further 400,000 extra nano-businesses are anticipated to profit.
24. Moreover, 75,000 beneficiaries have been processed to obtain our N1million Micro and Small Enterprise single-digit curiosity loans, beginning this month. We’ve additionally constructed 10 MSME hubs inside the previous yr, created 240,000 jobs by way of them and 5 extra hubs are in progress which will likely be prepared by October this yr.
25. Funds of N1billion every are additionally being made to giant producers beneath our single-digit loans to spice up manufacturing output and stimulate progress.
26. I signed the Nationwide Minimal Wage into legislation final week, and the lowest-earning employees will now earn at the least N70,000 a month.
27. Six months in the past in Karsana, Abuja, I inaugurated the primary section of our bold housing initiative, the Renewed Hope Metropolis and Property. This challenge is the primary of six we’ve got deliberate throughout the nation’s geopolitical zones. Every of those cities will embody a minimal of 1,000 housing models, with Karsana itself set to ship 3,212 models
28. Along with these metropolis initiatives, we’re additionally launching the Renewed Hope Estates in each state, every comprising 500 housing models. Our objective is to finish a complete of 100,000 housing models over the following three years. This initiative isn’t solely about offering properties but additionally about creating hundreds of jobs throughout the nation in addition to stimulating financial progress.
29. We’re offering incentives to farmers to extend meals manufacturing at inexpensive costs. I’ve directed that tariffs and different import duties needs to be eliminated on rice, wheat, maize, sorghum, medicine, and different pharmaceutical and medical provides for the following 6 months, within the first occasion, to assist drive down the costs.
30. 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 obligatory incentives for this initiative, while the states present the land, which is able to put hundreds of thousands of our folks to work and additional improve meals manufacturing. Prior to now few months, we’ve got additionally ordered mechanized farming gear similar to tractors and planters, value billions of Naira from america, Belarus, and Brazil. I can verify to you that the gear is on the way in which.
31. My pricey 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.
32. 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 dwell with dignity and prosperity.
33. The duty earlier than us is a collective one, and I’m main the cost as your President. Loads of work has gone into stabilising our financial system and I have to keep centered on guaranteeing that the advantages attain each single Nigerian as promised.
34. My administration is working very arduous to enhance and increase our nationwide infrastructure and create extra alternatives for our younger folks.
35. Let no one 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 prior to now, we’re in a brand new period of Renewed Hope. We’re working arduous for you, and the outcomes will quickly be seen and concrete for everybody to see, really feel, and revel in.
36. Allow us to work collectively to construct a brighter future for ourselves and for generations to return. 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 got 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!
37. 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 protection and safety of all Nigerians are paramount.
38. Thank God — and Thanks in your consideration, and should God proceed to bless our nice Nation. Thanks very a lot.
