During a gathering at the State House with traditional leaders, including His Eminence Sa’ad Abubakar, the Sultan of Sokoto, and the Ooni of Ife, Adeyeye Enitan Ogunwusi, President Bola Tinubu stated that the country’s Economy is slowly but steadily improving and promises to take further action to address the needs of the citizens. The president expressed his strong commitment to addressing the challenges faced by citizens and ensuring they receive the necessary support and attention. He expressed his dedication to guiding Nigeria with integrity and transparency. Accepting the duties and challenges left by the previous leader, he confirmed his dedication to moving the country forward without getting stuck on past problems.
Despite a busy agenda that allows few moments for himself, Tinubu stays committed to his position and resolves to put the nation’s advancement first. He stated that the country’s landscape is characterised by its rolling hills, setting it apart as the largest democracy in Africa. In terms of population, no other democracy on the continent rivals its size. The president emphasised the importance of seeking Peace and improving livelihoods. He further announced that the government’s efforts to increase accessibility for citizens are proving successful. This is evident through implementing initiatives such as the consumer Credit Scheme and the Student Loan program and granting fiscal autonomy to local governments.
They are focusing on infrastructure, agriculture, and economic recovery.
He emphasised that the Ministry of Finance is dedicated to directing financial resources towards improving communities through investments in both people and infrastructure. The Bank of Agriculture is currently empty and must be revitalised. Discussions often revolve around issues such as flooding and banditry, prompting the need to undergo a complete restart. The presence of infrastructural decay further complicates the situation. Studies are being conducted for the Lagos-Calabar coastal road to maximise its economic potential. The road will catalyse Infrastructure development, including wind energy projects, power generation, and expansion of the Irrigation network along its route.
Before initiating any projects, it is crucial to analyse the financial Sustainability of infrastructure. It is important to determine the number of dams along the Sokoto Badagry routes, as they have the potential to produce electricity, facilitate irrigation, and support the development of new agricultural plots. Despite the vast expanse of two million hectares of arable land, small-scale farmers still have the potential to seize opportunities. However, their main challenge is securing the necessary capital for their endeavours. The president indicated that, according to Minister of Finance Mr. Wale Edun, Nigeria is making progress towards economic recovery.
Economic, security, education, and local support will be improved.
However, the focus is on the well-being of the citizens rather than being deterred by protests. He recalled the unfortunate incident in Lagos, where brand-new buses were destroyed, leading to transportation issues. This remains a significant challenge that needs to be addressed. The president gratified the traditional rulers for their assistance and loyalty and emphasised the need for increased focus on Security and ensuring its improvement. He also announced the implementation of initiatives aimed at providing students with access to Education and credit to stimulate Economic Growth and enhance individuals’ buying power. Despite this, efforts to adjust oil consumption are ongoing.
Also, Tinubu further emphasised his commitment to articulating the economic reforms and their potential advantages to the nation, affirming his willingness to engage in discussions to advance the country. He implored the monarchs to communicate with the people about the government’s sincere efforts to fulfil its commitment to bringing about Renewed Hope. He committed to aiding local governments and citizens by providing financial assistance, fertilisers, and rice. He reassured the nation that economic revival and growth were inevitable. The Sultan of Sokoto also expressed optimism that their recent public dialogues would address societal issues, stressing the significance of transparent communication on community matters.
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Moreover, the king disclosed that the executive council had met. The assembly, which consisted of representatives from all 36 States and the FCT, was convened to discuss economic matters. The Ooni of Ife expressed gratitude to the president for allowing prominent government officials, including the National Security Adviser, Minister of Finance, Minister of Budget, and GCEO of NNPCL, to provide an economic update to the traditional rulers. He stated that they provided updates that highlighted their role in driving the economy forward. It is important to show support and motivation, as they will communicate these updates to their communities with transparency and openness.