Key Takeaways from President Tinubu’s Address

By Saadatu Albuashir
President Tinubu has called for the suspension of the “End Bad Governance” protests to prevent further violence and destruction. He emphasised the need for dialogue and collaboration to address grievances.
The President expressed sorrow over the loss of lives and destruction in states like Borno, Jigawa, Kano, and Kaduna.
He condemned the violent turn of the protests and pointed at the setback caused by the destruction of public facilities and looting.
Commitment to Public Order:
Tinubu reaffirmed his commitment to maintaining public order and protecting citizens’ lives and properties. He warned that the government would not tolerate actions that threaten national unity and stability.
Economic Reforms:
Tinubu discussed the removal of fuel subsidies and the abolition of multiple foreign exchange systems as necessary steps to correct economic misalignments and stop the exploitation by a powerful few
Increased Government Revenues:
As a result of economic reforms, government revenues have more than doubled, providing more financial freedom to invest in social services and infrastructure.
Debt Service Reduction:
The government has successfully reduced debt service expenditure from 97% to 68% of revenue, allowing more funds to be allocated to critical sectors like education and healthcare.
CNG Initiative:
To reduce transportation costs and reliance on petrol and diesel, the government has launched a Compressed Natural Gas (CNG) Initiative.
This program aims to distribute a million conversion kits at low or no cost to commercial vehicles, potentially reducing transportation costs by 60%.
Support for Youth and Small Businesses:
Various programmes, such as the Skill-Up Artisans Programme (SUPA), Nigerian Youth Academy (NIYA), and National Youth Talent Export Programme (NATEP), have been introduced to support youth and small businesses.
Additionally, substantial funds have been released to expand livelihood support and provide micro and small business loans.
MSME Hubs:
The government has established 10 Micro, Small, and Medium Enterprises (MSME) hubs, creating 240,000 jobs. Five more hubs are under construction, expected to be completed by October.
Manufacturing Support:
Large manufacturers are receiving single-digit interest loans to boost manufacturing output and stimulate economic growth. This initiative is part of a broader effort to enhance national infrastructure and create more opportunities for young people.