PRESIDENT Bola Tinubu has outlined four key measures his administration plans to pursue to reduce the cost of living, create jobs and support vulnerable Nigerians, as he declared that Nigeria has entered what he described as an “age of prosperity.”
Tinubu made this known in his Independence Day address to Nigerians on Thursday, October 1, saying the government’s priority in the next phase of his administration would be to bring down the cost of living and create productive opportunities.
According to the President, the government will focus on lowering the cost of producing and moving goods, expanding employment opportunities for young Nigerians, supporting industries and ensuring that social assistance reaches Nigerians who genuinely need it.
Here are the four key measures outlined by Tinubu:
1. Expand mechanised farming, irrigation and food transportation
Tinubu said his government would expand mechanised irrigation and dry-season farming while improving access to seeds and fertiliser.
He also promised increased agricultural mechanisation and investment in storage and transportation infrastructure.
According to him, the government is building and completing roads, railways and ports to connect farms and factories to markets.
Tinubu said the approach is intended to reduce the cost of production and minimise losses between farms and markets.
“When a farmer produces more cheaply, when fewer crops are lost between the farm and the market… all those savings will ultimately find their way into the price of goods in the market,” he said.
2. Put jobs at the centre of government policies
Tinubu said job creation would be a major focus of the next phase of his administration, particularly for Nigeria’s growing young population.
He said the government would invest in skills demanded by employers while supporting Nigerian businesses with infrastructure and finance.
The President also said the government would expand digital connectivity to communities and create an environment that allows more Nigerians to participate in the modern economy.
3. Support industries and revive factories
Tinubu said the government would support businesses working to bring factories back to life in Nigeria’s industrial centres.
He said Nigeria would also use its gas resources to power new industries as part of efforts to increase domestic production.
The President said his ambition was to see more Nigerians making goods locally and more Nigerian businesses selling their products to international markets.
“I want to see more Nigerians making things,” Tinubu said, adding that he wants Nigerian farms to feed cities and supply factories while Nigerian businesses sell Nigerian goods to the world.
4. Strengthen social support for vulnerable Nigerians
Tinubu also promised to improve government support for poorer and vulnerable Nigerians.
He said the administration would strengthen direct support for the poorest households and improve the National Social Register to ensure assistance reaches those who genuinely need it.
He cited the Nigerian Education Loan Fund as a programme intended to help children from low-income families access higher education.
The President also mentioned CREDICORP, which he said is providing working Nigerians with access to consumer credit for assets such as vehicles, solar systems and digital devices.
He added that the government would continue working with state and local governments to strengthen primary healthcare, basic education and other essential public services.
Mustapha Usman is an investigative journalist with the International Centre for Investigative Reporting. You can easily reach him via: musman@icirnigeria.com. He tweets @UsmanMustapha_M