By Emeka Amaefula
PRESIDENT TINUBU’S BROADCAST: PLANS FOR NIGERIAN YOUTH, UNVEILS MARSHALL PLANS AGAINST HUNGER
The President Federal Republic of Nigeria, Asiwaju Bola Ahmed Tinubu during his broadcast to the Nation on Sunday 4th of August, 2024 announced several measures to combat hunger and mitigate economic hardship in Nigeria. He revealed adequate measures his administration is putting on the table in response to the Endbadgovernance In Nigeria Protest by Nigerian youth which began on 1st of August, 2024 to 10th of August 2024. “My dear Nigerians, especially our youth, I have heard you loud and clear. I understand the pain and frustration that drive these protests. And I want to assure you that the government is committed to listening and addressing the concerns of our citizens, But we must not let violence and destruction tear our nation apart, we must work together to build a better future, where every Nigerian can live with dignity and prosperity.” This was the closing remark of Mr. President in his broadcast in which he marshalled out plans by his administration to cushion the effects of inflation in the economy of the nation. He stated that the decline in oil and gas sector is experiencing a boost due to reforms which his government announced in may 2024which addressed the gap in the Petroleum Industry Act. As there has been an increase in Oil production to 1,61m barrels per day and gas assets now receiving deserved attention with Foreign Direct Invest of more than half a billion USdollar business deals signed so far in the 13-months.
The President outlined the progress made by his government to reduce the Foreign debt services using the income generated from 97 percent to 68 percent having already paid Five Billion USdollars $5Billion. The construction of the Coastal road from Lagos to Calabar and another from Badagary to Sokoto he said will address the need for opportunities for commerce, cultural integration and boost of tourism among other benefits.. For the improvement in lowering the cost of transport which has multiplier effect in the living standard of the citizens Mr President said that his Government recently launched use of Compressed Natural gas CNG which will bring down 80 percent consumption in PMS and AGO and save two trillion Naira per month ” We will be distributing a Million kits of extremely low or no cost to commercial vehicles that transport people and goods. The setting of conversion centres across the nation with private sector involvement . He said when implemented it will reduce the cost of transportation to 60 percent and in the process curb inflation. ” Our administration has shown commitment to the youth by setting uo student Loan scheme to date N45.6 Billion has been processed for payment to students and institutions. I encourage our vibrant youth population to take advantage of these opportunities. We established the Consumer Credit Corporation with over 200 Billion to help Nigerians to acquire essential products without the need for immediate cash payments, making life easier for millions of households.” Mr. president said that this will eliminate corruption and opaque transactions. He also stated that his administration last week added N50Bilion each for NELFUND the students loan and Credit Corporation obtained from proceeds of crime recovered by the Economic and Financial Crime Commission-EFCC.
The President knowing that 21st century economy need technical know-how and for the youth to fit in, they ought to have technical skills and job creation as such $620million has been secured for Digital and creative Enterprise-IDICE a programme to empower “Our young people, creating million of IT and Technical jobs that will make them globally competitive. Three Million Technical Talents Scheme under the Nigerian Communication Commission-NCC one of which was vandalized at Kano, Kano state during the Endnbadgovernece Protest. Other programmes established by the present administration to address the need for empowerment of the youth include Skill-Up Artisans Programme-SUPA and the Nigerian Youth Academy-NIYA, which is National Youth Talent Export Programme-NATEP. According to Mr President there has been release of N570 Billion to the 36 states of the federation which is targeted to expand livelihood support to citizens. “While 600,000 nano businesses have benefited from our nano-grants. And an additional 4000,000 more nano businesses are expected to benefit.” Another 75,000 beneficiaries have been processed to receive N1million Micro and Small business single digit interest loans which starts from August, 2024. ” 10million MSME hubs within the past one year created 240,000 jobs through them and five more hubs are in progress.” The was payment of 1 Billion to each larger manufacturer under single digit interest loan to boost manufacturing output and stimulate economic growth.
The establishment of RENEWED HOPE 1,000 Housing Units Estates City across major six geopolitical zones and another set of 100,000 housing units have been earmarked for the next 3-years in the 36 states. This housing initiative Renewed Hope City and Estate at Karsana Abuja was launched 6-months ago. And this will have 3,212 Housing units. All these will create jobs for the youth across the nation and youth are encouraged to take advantage of the laudable projects for economic drive.
Mr President marshalled out plans for incentives for farmers to increase food output at affordable prices. ” I have directed that tariffs and other import duties should be removed on rice, Wheat, Maize, Sorghum, drugs and other pharmaceutical and medical supplies for the next 6-months in the first instance, to help drive down the price.” The administration will supervise the cultivation of 10million hectares of land through incentives to farmers with distribution of fertilizers. Again his administration has ordered for the mechanized farm technical implements such as Tractors already ordered from USA, Belarus and Brasil. For the 10-Days planned Endbadgovernance In Nigeria protests across the nation immediately after the broadcast has reduce the tension among the youth in Nigeria as the protesters have now soft pedalled in their agitations while others see the broadcast as watershed to more economic benefit as others see it President Tinubu’s speech as not going to mitigate their sufferings.
——-Emeka Amaefula—+234(0)8111813069——-
