Nigeria@63: Reforms may hurt, but necessary, says Tinubu

PRESIDENT Bola Tinubu has urged Nigerians to endure the prevailing hardships occasioned by his reforms for a while. He said they were necessary for the nation’s stability and prosperity.

He stated this in a national broadcast commemorating Nigeria’s 63rd Independence Day on Sunday, October 1.

The President said several reforms had begun to stabilize the economy.

“We have embarked on several public sector reforms to stabilize the economy, direct fiscal and monetary policy to fight inflation, encourage production, ensure the security of lives and property and lend more support to the poor and the vulnerable,” he stated.

He said reforms could be difficult but were necessary for greatness and the nation’s future.

“I am attuned to the hardships that have come. I have a heart that feels and eyes that see. I wish to explain to you why we must endure this trying moment. Those who sought to perpetuate the fuel subsidy and broken foreign exchange policies are people who would build their family mansion in the middle of a swamp. I am different. I am not a man to erect our national home on a foundation of mud. To endure, our home must be constructed on safe and pleasant ground,” he maintained.

He announced an increment of N25,000 to support workers’ wages for six months.

The President promised the increase would not result in inflation.

He also pledged to support transportation, as, according to him, his government would introduce Compressed Natural Gas (CNG) buses nationwide, which would operate at a fraction of the current fuel price.




     

     

    The President stated that new CNG conversion kits would arrive in the nation soon, stressing that training facilities and workshops nationwide were being set up to train and provide new opportunities for transport operators and entrepreneurs.

    He also said that a committee on tax changes was being set up to address fiscal policies that hurt the nation’s business climate while increasing the tax administration’s effectiveness.

    Tinubu removed fuel subsidy removal on the day he took over power – May 29. The decision and his other reforms have worsened the hardships most Nigerians face.

    In protest to his policies, the nation’s workers, under the auspices of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), have declared an indefinite strike for Tuesday, October 3.

    Fatimah Quadri is a Journalist and a Fact-checker at The ICIR. She has written news articles, fact-checks, explainers, and media literacy in an effort to combat information disinformation.
    She can be reached at sunmibola_q on X or [email protected]

    Join the ICIR WhatsApp channel for in-depth reports on the economy, politics and governance, and investigative reports.

    Support the ICIR

    We invite you to support us to continue the work we do.

    Your support will strengthen journalism in Nigeria and help sustain our democracy.

    If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here


    Support the ICIR

    We need your support to produce excellent journalism at all times.

    - Advertisement

    Recent

    - Advertisement