KEY POINTS
- Tinubu highlights progress in combating Boko Haram and pledges bold economic reforms.
- Government aims to boost agricultural efficiency with local tractor production to empower farmers.
- Youth initiatives promise millions of new jobs and skills training opportunities.
President Bola Tinubu, in his Independence Day address celebrating Nigeria’s 64th anniversary, acknowledged citizens’ struggles while outlining steps his administration is taking to address challenges, including the economy, security, and youth empowerment.
Tinubu called on Nigerians to remain resilient and patient as the government’s reforms take effect.
Economic and security reforms
Tinubu underlined the issues confronting Nigeria, namely its economic hardships and security issues. He talked about the continuous attempts to restructure the economy, pointing out that the government facilitated over $30 billion in foreign direct investments last year. He also emphasized economic reforms that lower taxes and promote job growth, such as the Economic Stabilization Bills that the Federal Executive Council adopted.
“We inherited a reserve of over $33 billion 16 months ago. Since then, we have paid off the inherited foreign exchange backlog of $7 billion and reduced the debt service ratio from 97% to 68%,” Tinubu said, emphasizing the administration’s commitment to fiscal responsibility.
On security, Tinubu reported successes in combating terrorism and violent extremism. He said more than 300 Boko Haram and bandit commanders have been eliminated, restoring peace to numerous northern communities.
“Our security agencies are committed to restoring peace so farmers can return to their fields, increasing food production and reducing costs,” Tinubu said.
Focus on agriculture and cost of living
The president acknowledged the high cost of living, particularly the rising food prices. Tinubu commended states working with the federal government to expand agricultural production and urged others to follow suit. He emphasized the need for increased mechanization, noting the approval of a local assembly plant for 2,000 John Deere tractors to boost farming efficiency.
“We must tackle the cost of food by increasing production, and we are supplying fertilizer and farm equipment to farmers to make that possible,” Tinubu said, adding that the new plant would be completed within six months.
According to a report by NTA, Tinubu also addressed energy needs, stating that the government is expanding the Presidential Initiative on Compressed Natural Gas for mass transit. He said CNG buses will be available to lower public transportation costs and alleviate the burden on citizens.
Youth empowerment and nation-building
Tinubu dedicated a significant part of his Independence Day address to Nigeria’s youth, recognizing them as key to the country’s future. He announced a National Youth Conference to be held this month, offering a platform to discuss education, employment, and innovation.
“We are committed to ensuring that the aspirations of our youth are at the heart of our discussions,” Tinubu said, pledging to implement policies aligning with youth priorities.
He outlined initiatives designed to empower young people, including the 3 Million Technical Talents (3MTT) program to build a skilled workforce and the Nigerian Education Loan Fund (NELFUND) to provide low-interest student loans. Tinubu also announced the Renewed Hope Labour Employment and Empowerment Programme (LEEP), aimed at creating 2.5 million jobs annually, to launch later this month.
Unity, resilience, and vision for the future
Tinubu emphasized the value of cooperation in creating a prosperous country. He reaffirmed that the government will carry out the Supreme Court’s decision regarding the financial autonomy of local governments, stressing that the country can only prosper when all of its residents and localities have the chance to flourish. He also revealed that prominent officials would shortly receive national honours for their contributions.
“Better days lie ahead,” Tinubu said, urging Nigerians to stay resilient and united. “The road ahead may be challenging, but with your support, we will pave the way toward a brighter future,” he added.
“Join us on this journey toward a greater Nigeria. Let us work together to ensure every citizen has access to opportunities, and every child can grow up with hope,” Tinubu said, concluding his Independence Day address with a wish for God’s blessings on Nigeria and its armed forces.
“Happy Independence Day, fellow Nigerians!”
