In a poignant and carefully considered address, President Bola Ahmed Tinubu spoke to the nation on August 4th, 2024, addressing the recent turmoil and violent protests that have erupted in various states. His speech, delivered with a sense of gravity and urgency, aimed to acknowledge the concerns of the protesters, lament the loss of life and property, and outline his administration’s ongoing efforts to rebuild Nigeria’s economy and infrastructure.
The President’s Opening Remarks
President Tinubu began by expressing his deep sorrow over the violent protests and the consequent loss of lives, particularly in states such as Borno, Jigawa, Kano, and Kaduna. He emphasized that the youth, who form the core of the protests, are driven by a desire for a better Nigeria, where their dreams and aspirations can be realized. He acknowledged their frustrations but condemned the violence and destruction that have accompanied the demonstrations.
Commitment to Public Order and Dialogue
The President reaffirmed his commitment to ensuring public order and the protection of lives and property, as mandated by his constitutional oath. He called on the protesters to suspend their activities and engage in dialogue, stressing that the government is open to discussions aimed at addressing their grievances. Tinubu underscored the importance of unity and collaboration across all segments of society to reshape Nigeria’s destiny.
Addressing Ethnic Bigotry and Threats
In a stern warning, President Tinubu denounced any attempts to exploit the situation for ethnic bigotry or threats. He assured that the law would take its course against those inciting division and unrest, reiterating that Nigeria must stand as one nation, free from ethnic strife and animosity.
Economic Reforms and Achievements
President Tinubu highlighted the economic challenges Nigeria has faced over the decades, attributing much of the turmoil to mismanagement and temporary solutions to long-term problems. He defended his administration’s controversial decisions to remove fuel subsidies and abolish multiple foreign exchange systems, which he argued were necessary to unblock economic growth and development. These measures, he explained, have curtailed the profits of smugglers and rent-seekers, and redirected subsidies previously extended to neighboring countries.
Fiscal Progress and Revenue Generation
Over the past 14 months, the government has made significant strides in rebuilding the economy. Tinubu pointed out that aggregate government revenues have more than doubled, reaching over 9.1 trillion Naira in the first half of 2024. This financial stability has allowed the government to invest more in essential social services such as education and healthcare, and has led to the highest ever allocations from the Federation Account to State and Local Governments.
Infrastructure and Industrial Reforms
The President detailed ongoing infrastructure projects, including the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Highway, which are expected to create jobs and boost economic output. He also discussed reforms in the oil and gas sector, noting that oil production has increased to 1.61 million barrels per day. Foreign Direct Investment has begun to flow back into the country, with two major deals signed worth over half a billion dollars.
Compressed Natural Gas (CNG) Initiative
To address Nigeria’s over-reliance on oil-based petrol and the associated financial burdens, President Tinubu announced the Compressed Natural Gas (CNG) Initiative. This program aims to transition the transportation economy to CNG, reducing costs and freeing up resources for other investments. The initiative includes distributing a million CNG conversion kits to commercial vehicles, which consume the majority of imported petrol and diesel.
Support for Youth and Education
Acknowledging the importance of supporting the nation’s youth, President Tinubu highlighted the student loan scheme, which has already processed 45.6 billion Naira for payment to students and their institutions. This initiative is part of a broader commitment to ensuring that young Nigerians have access to education and opportunities for personal and professional growth.
Conclusion
In conclusion, President Tinubu called for unity, peace, and a collective effort to move Nigeria forward. He urged citizens to respect each other’s rights and work together towards building a prosperous and just nation. The President’s address was a call to action, inviting all Nigerians to join hands in the ongoing journey of national development and transformation.
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