Fellow Nigerians, as I address you today, I am deeply
aware of the struggles many of you face in these challenging times. Our
administration knows that many of you struggle with rising living costs and the
search for meaningful employment. I want to assure you that your voices are
heard.
As your President, I assure you that we are committed to
finding sustainable solutions to alleviate the suffering of our citizens. Once
again, I plead for your patience as the reforms we are implementing show
positive signs, and we are beginning to see light at the end of the tunnel.
Exactly 64 years ago, our founding fathers chose
democracy as a form of government and launched the dream of a great country
that would lead the rest of Africa out of poverty, ignorance, and underdevelopment,
a beacon of hope to the rest of Africa and the world.
Over six decades later, we can look back, and Nigerians
worldwide can see how well we have succeeded in realising the lofty dreams of
our founding fathers.
The world is witnessing and benefiting from the can-do
spirit of the Nigerian people, our massive intellectual capacity, and our
enterprise and industry in all vocations, from arts to science, technology to
infrastructure. The dreams that our founding fathers envisaged are still a work
in progress. Every day, we put our hands on the plough, determined to do a
better job of it.
While it is tempting to focus on what has been left
undone and where we have stumbled as a nation, we must never lose sight of how
far we have come in forging and holding our country together.
Since independence, our nation has survived many crises
and upheavals that led to the dissolution and disintegration of many other
nations worldwide. Six years after independence, our country descended into a
political crisis that led to a bitter and avoidable civil war. Since returning
from the brink of that darkest moment, we have learned to embrace our diversity
and manage our differences better as we continue to work towards engendering a
more perfect union.
Despite the many challenges that buffeted our country, we
remain a strong, united, and viable sovereign nation.
Dear compatriots, our independence anniversary gives us
another chance to reflect on how far we have gone in our journey to
nation-building and to renew our commitment to building a better nation that
will serve present and future generations of Nigerians.
While we celebrate the progress we have made as a people
in the last sixty-four years, we must also recognise some of our missed
opportunities and mistakes of the past. If we are to become one of the greatest
nations on earth, as God has destined us to be, our mistakes must not be
allowed to follow us into the future.
My administration took over the leadership of our country
16 months ago at a critical juncture. The economy faced many headwinds, and our
physical security was highly impaired. We found ourselves at a dizzying
crossroads, where we must choose between two paths: reform for progress and
prosperity or carry on business-as-usual and collapse. We decided to reform our
political economy and defence architecture.
On the security front, I am happy to announce to you, my
compatriots, that our administration is winning the war on terror and banditry.
Our target is to eliminate all the threats of Boko Haram, banditry, kidnapping
for ransom, and the scourge of all forms of violent extremism. Within one year,
our government has eliminated Boko Haram and bandit commanders faster than
ever. As of the last count, over 300 Boko Haram and bandit commanders have been
eliminated by our gallant troops in the Northeast, Northwest, and some other
parts of the country.
We have restored peace to hundreds of communities in the
North, and thousands of our people have been able to return home. It is an
unfinished business, which our security agencies are committed to ending as
quickly as possible. As soon as we can restore peace to many communities in the
troubled parts of the North, our farmers can return to their farms. We expect
to see a leap in food production and a downward spiral in food costs. I promise
you, we shall not falter on this.
Our government has been responding to the recent natural
disasters, particularly the flooding in parts of the country. After Vice
President Kashim Shettima visited Maiduguri, I also visited to assure our
people that this federal government will always stand with our people in their
times of trouble. At the last meeting of the Federal Executive Council, we
approved a Disaster Relief Fund to mobilise private and public sector funds to
help us respond faster to emergencies.
Our government has also ordered integrity tests of all
our dams in the country to avert future disasters.
The economy is undergoing the necessary reforms and
retooling to serve us better and more sustainably. If we do not correct the
fiscal misalignments that led to the current economic downturn, our country
will face an uncertain future and the peril of unimaginable consequences.
Thanks to the reforms, our country attracted foreign
direct investments worth more than $30 billion in the last year.
Fellow compatriots, our administration is committed to
free enterprise, free entry, and free exit in investments while maintaining the
sanctity and efficacy of our regulatory processes. This principle guides the
divestment transactions in our upstream petroleum sector, where we are
committed to changing the fortune positively. As such, the ExxonMobil Seplat
divestment will receive ministerial approval in a matter of days, having been
concluded by the regulator, NUPRC, in line with the Petroleum Industry Act,
PIA. This was done in the same manner as other qualified divestments approved
in the sector.
The move will create vibrancy and increase oil and gas
production, positively impacting our economy.
The more disciplined approach adopted by the Central Bank
to monetary policy management has ensured stability and predictability in our
foreign exchange market. We inherited a reserve of over $33 billion 16 months
ago. Since then, we have paid back the inherited forex backlog of $7 billion. We
have cleared the ways and means debt of over N30 trillion. We have reduced the
debt service ratio from 97 per cent to 68 per cent. Despite all these, we have
managed to keep our foreign reserve at $37 billion. We continue to meet all our
obligations and pay our bills.
We are moving ahead with our fiscal policy reforms. To
stimulate our productive capacity and create more jobs and prosperity, the
Federal Executive Council approved the Economic Stabilisation Bills, which will
now be transmitted to the National Assembly. These transformative bills will
make our business environment more friendly, stimulate investment and reduce
the tax burden on businesses and workers once they are passed into law.
As part of our efforts to re-engineer our political
economy, we are resolute in our determination to implement the Supreme Court
judgment on the financial autonomy of local governments.
The central concern of our people today is the high cost
of living, especially food costs. This concern is shared by many around the
globe as prices and the cost of living continue to rise worldwide.
My fellow Nigerians, be assured that we are implementing
many measures to reduce the cost of living here at home.
I commend the Governors particularly, in Kebbi, Niger,
Jigawa, Kwara, Nasarawa, and the Southwest Governors that have embraced our
agricultural production programme. I urge other states to join the Federal
Government in investing in mechanised farming. We are playing our part by
supplying fertilizer and making tractors and other farm equipment available.
Last week, the Federal Executive Council approved establishing a local assembly
plant for 2000 John Deere tractors, combine harvesters, disc riders, bottom
ploughs and other farm equipment. The plant has a completion time of six
months.
Our energy transition programme is on course. We are
expanding the adoption of the Presidential Initiative on Compressed Natural Gas
for mass transit with private sector players. The Federal Government is ready
to assist the thirty-six States and FCT in acquiring CNG buses for cheaper
public transportation.
Fellow Nigerians, while we are working to stabilise the
economy and secure the country, we also seek to foster national unity and build
social harmony and cohesion. Our economy can only thrive when there is peace.
As we work to overcome the challenges of the day, we
remain mindful of the next generation as we seek to galvanize their creative
energy towards a better future. We lead today with the future we wish to
bequeath to our children in focus, recognizing that we cannot design a future
that belongs to them without making them its architects.
Considering this, I am pleased to announce the gathering
of a National Youth Conference. This conference will be a platform to address
the diverse challenges and opportunities confronting our young people, who
constitute more than 60 per cent of our population. It will provoke meaningful
dialogue and empower our young people to participate actively in
nation-building. By ensuring that their voices are heard in shaping the
policies that impact their lives, we are creating a pathway for a brighter
tomorrow.
The 30-day Confab will unite young people nationwide to
collaboratively develop solutions to issues such as education, employment,
innovation, security, and social justice. The modalities of this Confab and
selection of delegates will be designed in close consultation with our young
people through their representatives. Through this confab, it will be our job
as leaders to ensure that their aspirations are at the heart of the
conference’s deliberations. The government will thoroughly consider and
implement the recommendations and outcomes from this forum as we remain
resolute in our mission to build a more inclusive, prosperous, and united
Nigeria.
Our government is implementing several other
youth-centric programmes to give our young people an advantage in the rapidly
changing world. We are implementing, amongst others, the 3 million Technical
Talents programme (3MTT) of the Ministry of Communications, Innovation and Digital
Economy, aimed at building Nigeria’s technical talent backbone.
We have also enthusiastically implemented the Nigerian
Education Loan Fund (NELFUND), which provides cheap loans to our students to
pursue their tertiary educational dreams. In addition, later this month, we
shall launch The Renewed Hope Labour Employment and Empowerment Programme
(LEEP). It is conceived as a comprehensive suite of interventions at job
creation by the Federal Ministry of Labour and Employment that is aimed at
facilitating the creation of 2.5 million jobs, directly and indirectly, on an
annual incremental basis whilst simultaneously ensuring the welfare and safety
of workers across the country.
As is the tradition, the government will soon announce
all the beneficiaries of our national honours for 2024.
The Senate President and the Chief Justice of the
Federation have been conferred with the honour of the Grand Commander of the
Order of the Niger (GCON). The deputy Senate President and Speaker of the House
of Representatives have the honour of Commander of the Order of the Federal
Republic (CFR), while the deputy speaker of the House has been awarded
Commander of the Order of Niger (CON) .
Fellow Nigerians, better days are ahead of us. The
challenges of the moment must always make us believe in ourselves. We are
Nigerians—resilient and tenacious. We always prevail and rise above our
circumstances.
I urge you to believe in our nation’s promise. The road
ahead may be challenging, but we will forge a path toward a brighter future
with your support. Together, we will cultivate a Nigeria that reflects the
aspirations of all its citizens, a nation that resonates with pride, dignity,
and shared success.
As agents of change, we can shape our destiny and build a
brighter future by ourselves, for ourselves and for future generations.
Please join our administration in this journey towards a
brighter future. Let us work together to build a greater Nigeria where every
citizen can access opportunities and every child can grow up with hope and
promise.
May God continue to bless our nation and keep members of
our armed forces safe.
Happy Independence anniversary, my fellow Nigerians!
President
Bola Ahmed Tinubu
