President Bola Ahmed Tinubu has acknowledged the struggles of millions of Nigerians in meeting basic needs, vowing that his administration will work to change the country's economic challenges. In his address to the nation on Thursday, marking Nigeria's 66th Independence Anniversary, Tinubu recognized the difficulties faced by many in accessing essential necessities. He emphasized that the current situation is a result of decades of accumulated challenges.
Tinubu highlighted that many Nigerian families struggle to afford basic necessities such as food, school fees, medical bills, and transportation. He noted that these challenges did not begin with the reforms of the last three years but are a result of low productivity, inadequate infrastructure, and insufficient opportunities. The President acknowledged that the problems facing Nigerians cannot be reversed immediately but maintained that his administration can alter the country's trajectory.
According to Tinubu, his administration is strengthening social interventions to support poor and vulnerable Nigerians. This includes direct support for the poorest households and improving the National Social Register to ensure assistance reaches those who genuinely need it. The President also highlighted the Nigerian Education Loan Fund, which aims to provide access to higher education for low-income families.
Tinubu's administration is also working to improve access to consumer credit for working Nigerians. The CREDICORP initiative will enable individuals to acquire essential assets such as vehicles, solar systems, and digital devices without having to accumulate years of savings. This move aims to support Nigerians in improving their economic prospects.
The President emphasized that his administration will continue to work with state and local governments to strengthen essential public services. This includes primary healthcare, basic education, and other public services that poorer Nigerians depend on. Tinubu noted that since 2023, his administration has paid salaries and pensions on time and in full.
Tinubu described the various interventions as transitional measures rather than an end in themselves. He emphasized that the objective is not to manage poverty more efficiently but to defeat it. The President acknowledged that achieving this objective will take time, discipline, and sustained growth year after year, with the creation of millions of productive opportunities across the country.
Tinubu concluded by reiterating his commitment to defeating poverty and improving the economic prospects of Nigerians. He emphasized that his administration will continue to work towards building an economy that steadily lifts people out of poverty while ensuring that those who remain vulnerable are not abandoned. The President's address aimed to reassure Nigerians of his administration's commitment to addressing the country's economic challenges.
Key points
- President Tinubu vows to defeat poverty in Nigeria
- Administration to strengthen social interventions and public services
- Tinubu emphasizes that defeating poverty will take time and sustained effort
