…says N570bn given to governors to alleviate suffering
…laments deaths, destruction of digital centre in Kano
Nigeria’s President Bola Ahmed Tinubu on Sunday ordered #EndBadGovernance organisers and protesters to call off their protests and leave the streets, insisting that the best way out of the current logjam is to embrace dialogue.
He gave the order when he addressed the nation on the fourth day of the #EndBadGovernance protests which have left pains and sorrow in many states of the federation in the wake of the destructions that ensued as hoodlums hijacked the initially peaceful protests, resulting in looting of private and public property.
Within the first few days of the protests, over 20 Nigerians have been killed with several arrests made by the security agencies just as many other Nigerians sustained various degrees of injuries most especially in the north west states of Kebbi, Kaduna, Kano and Katsina, and the north east states of Borno, and Yobe.
“Nigeria, reached a point where we couldn’t afford to continue the use of temporary solutions to solve long-term problems for the sake of now and our unborn generations. I therefore took the painful yet necessary decision to remove fuel subsidies and abolish multiple foreign exchange systems which had constituted a noose around the economic jugular of our Nation and impeded our economic development and progress,” President Tinubu said yesterday.
“These actions blocked the greed and the profits that smugglers and rent-seekers made. They also blocked the undue subsidies we had extended to our neighbouring countries to the detriment of our people, rendering our economy prostrate. These decisions I made were necessary if we must reverse the decades of economic mismanagement that didn’t serve us well,” Tinubu added.
He rolled out measures his administration has taken to reduce the impact of the fuel subsidy removal and naira float. These in addition to other measures taken to improve the general conditions of the Nigerian economy towards enhancing its productive capacity.
On alleviating the impact of fuel subsidy removal and naira float, President Tinubu said more than N570 billion was released to the 36 state governments to expand livelihood support to their citizens. Nano businesses numbering 600,000 benefited from nano-grants while additional 400,000 nano businesses are expected to get their grants in the next phase.
President Tinubu added that N200 billion has been made available through the Consumer Credit Corporation to help Nigerians acquire essential products without the need for immediate cash payments. He said his administration has approved additional N50 billion for the student loan scheme.
On projects executed to enhance the productive capacity of the Nigerian economy, he cited the establishment of the $620 million Digital and Creative Enterprises (IDiCE), a special centre set up to empower young Nigerians who will be able to create IT and technical jobs.
“In addition, we have introduced the Skill-Up Artisans Programme (SUPA); the Nigerian Youth Academy (NIYA); and the National Youth Talent Export Programme (NATEP),” President Tinubu said.
He highlighted that 75,000 micro and small business owners have been approved to receive N1 million single digit interest loans, starting August 2024. This is as some manufacturers in the country have been screened to receive N1 billion single-digit interest loans each to boost output and stimulate growth.
Other productive capacity enhancing projects of his administration include the Compressed Natural Gas Initiative (CNG) which is meant to power transportation of goods and services in order to bring costs down; inauguration of Renewed Hope City and Estate in Karsana, Abuja; roads, bridges, railways, power, and oil and gas developments especially the Lagos-Calabar Coastal Highway, Sokoto-Badagry Highway projects which upon completion will open up 16 connecting states, creating thousands of jobs and boosting economic output through trade, tourism and cultural integration, among others.
Meanwhile, protesters in Lagos State, Nigeria’s commercial capital have vowed to move into the streets in continuation of their expression of disapproval of the current state of the economy. Until now, protests in Lagos have been very peaceful with no incident of violence because the organisers were confined to Freedom Park at Ojota, Kosofe Local Government Area of the state.
In response, the Lagos Police Command has advised the protesters not to test their resolve.
“Be law abiding! We will be courteous but firm, very firm. Do not test our resolve,’’ SP Benjamin Hundeyin, Force Public Relations Officer, Lagos State Command, said on his X-handle.
