Tinubu’s speech focused on the accomplishments of his administration since taking office seven months ago and his comprehensive plans for the upcoming year.
President Tinubu reflected on his path to the presidency and commended Nigeria’s 24 years of continuous democracy.
He emphasized his efforts to avert what he described as a fiscal disaster for the country……CONTINUE READING
Acknowledging the difficult decisions made, including the removal of fuel subsidies and reforms in the foreign exchange system, Tinubu recognized the discomfort these caused for Nigerians but expressed confidence in their resilience.
Looking ahead, he announced plans to accelerate service delivery across various sectors in 2024.
Here are five promises made by the President during the nationwide address.
1. Reliable supply of electricity
Tinubu on electricity suply: “Just this past December during COP28 in Dubai, the German Chancellor, Olaf Scholz, and I agreed and committed to a new deal to speed up the delivery of the Siemens Energy power project that will ultimately deliver reliable supply of electricity to our homes and businesses under the Presidential Power Initiative which began in 2018.
“Other power installation projects to strengthen the reliability of our transmission lines and optimise the integrity of our National grid are ongoing across the country.
“My administration recognizes that no meaningful economic transformation can happen without steady electricity supply.”
2. Restart local refining of petroleum
Speaking on local refineries, he said, “In 2024, we are moving a step further in our quest to restart local refining of petroleum products with Port Harcourt Refinery, and the Dangote Refinery which shall fully come on stream.”
3. Boost food supply
In this New Year, Tinubu pledged to accelerate efforts to cultivate 500,000 hectares of farmlands nationwide to grow maize, rice, wheat, millet, and other staple crops in order to guarantee a steady supply, security, and affordability of food.
His words, “To ensure constant food supply, security and affordability, we will step up our plan to cultivate 500,000 hectares of farmlands across the country to grow maize, rice, wheat, millet and other staple crops. We launched the dry season farming with 120,000 hectares of land in Jigawa State last November under our National Wheat Development Programme.”
4. Boost local, and foreign investments
With regard to making Nigeria a preferred location for both domestic and foreign investments this New Year, Tinubu pledges to clear any obstacles in the way.
“In this new year, we will race against time to ensure all the fiscal and tax policies reforms we need to put in place are codified and simplified to ensure the business environment does not destroy value. On every foreign trip I have embarked on, my message to investors and other business people has been the same. Nigeria is ready and open for business.
“I will fight every obstacle that impedes business competitiveness in Nigeria and I will not hesitate to remove any clog hindering our path to making Nigeria a destination of choice for local and foreign investments.”
5. Actualisation of 8 priority areas in 2024 budget: Security, job creation, poverty reduction, others.
“In my 2024 Budget presentation to the National Assembly, I listed my administration’s 8 priority areas to include national defence and internal security, job creation, macro-economic stability, investment environment optimization, human capital development, poverty reduction and social security.
