On Nigeria’s 64th Independence Day, President Bola Ahmed Tinubu addressed the nation, acknowledging the struggles faced by many Nigerians and outlining his administration’s ongoing efforts to overcome these challenges through sustainable reforms.
Addressing Economic Hardships and Unemployment
President Tinubu began by recognizing the rising cost of living and the search for employment that many citizens are enduring. He assured Nigerians that their voices are heard and that his administration is committed to finding long-term solutions to alleviate their suffering. Tinubu urged Nigerians to remain patient, noting that positive changes from ongoing reforms are beginning to emerge.
Reflecting on Nigeria's Progress Since Independence
The president reflected on Nigeria’s journey since gaining independence 64 years ago. He highlighted the country's resilience and growth, emphasizing how Nigeria has withstood multiple crises that might have caused other nations to disintegrate. He acknowledged the political crisis and civil war Nigeria faced shortly after independence, and how the nation has since learned to embrace its diversity while striving to build a more perfect union.
Tinubu emphasized that while much remains to be done, Nigerians should not lose sight of the country’s achievements in holding together and fostering development across various sectors, from science and technology to arts and infrastructure. He called for renewed commitment from every Nigerian to continue building a better nation for future generations.
Security Gains in the Fight Against Terrorism
On the security front, President Tinubu announced progress in the fight against terrorism, banditry, and kidnapping. He revealed that over 300 Boko Haram and bandit commanders have been eliminated by Nigerian troops across the northeast, northwest, and other affected areas. Thousands of people who had been displaced by violence have now returned to their homes, and peace has been restored to many communities.
Tinubu acknowledged that while the fight is far from over, the government is determined to eliminate all forms of violent extremism. Restoring peace will allow farmers to return to their lands, which will, in turn, boost food production and help reduce food prices.
Response to Natural Disasters
The president also addressed recent natural disasters, specifically the floods that have affected parts of the country. He assured Nigerians that the federal government stands with them in times of need and that measures are being taken to prevent future disasters. These include conducting integrity tests on dams across the country to ensure their safety and effectiveness.
Economic Reforms and Investments
President Tinubu discussed the economic reforms his administration is implementing to stabilize the country and promote sustainable growth. He highlighted the importance of correcting the fiscal misalignments that contributed to the current economic downturn. Thanks to the reforms, Nigeria has attracted more than $30 billion in foreign direct investments over the past year.
The president reassured Nigerians that the administration is committed to free enterprise while maintaining regulatory standards. He cited ExxonMobil's divestment in the upstream petroleum sector as an example of successful reform in the oil and gas industry, which is expected to increase production and positively impact the economy.
Fiscal Management and Debt Reduction
Tinubu also reported on progress in managing Nigeria’s foreign reserves and debt. The administration inherited $33 billion in foreign reserves and has since paid back a $7 billion forex backlog while reducing the country’s debt service ratio from 97% to 68%. Despite these efforts, foreign reserves have remained stable at $37 billion. He emphasized that these fiscal measures are critical for ensuring long-term economic stability and creating more jobs.
Boosting Agricultural Production
As part of efforts to address rising food costs, the president called on states to invest in mechanized farming, highlighting the agricultural production programs already embraced by states such as Jigawa, Niger, and Nasarawa. The federal government is supporting these efforts by supplying fertilizer, tractors, and other farm equipment. An assembly plant for farm machinery is also in the works, with completion expected within six months.
Energy Transition and Transportation Initiatives
President Tinubu touched on Nigeria’s energy transition program, particularly the expansion of compressed natural gas (CNG) as an alternative fuel for transportation. The government is partnering with the private sector to facilitate this transition and has committed to helping states acquire CNG buses for cheaper public transportation.
Youth Empowerment and Employment Initiatives
Recognizing that more than 60% of Nigeria’s population is made up of young people, the president announced plans for a National Youth Conference. This event will bring together youths from across the country to discuss challenges such as education, employment, and social justice. The conference is aimed at empowering young people to participate actively in nation-building.
The administration is also implementing various youth-centered programs, including a technical talent development initiative aimed at training 3 million Nigerians in digital skills. Additionally, the Nigerian Education Loan Fund will provide affordable loans for students pursuing higher education.
Later this month, the government plans to launch the “Renewed Hope Leap” initiative, which aims to create 2.5 million jobs annually through comprehensive job creation interventions.
Call for Unity and Optimism for Nigeria's Future
President Tinubu concluded his speech by calling for unity, urging Nigerians to continue working together to build a stronger and more prosperous country. He stressed that while challenges remain, better days lie ahead, and the resilience of the Nigerian people will see the nation through its current struggles.
He encouraged every citizen to believe in the country’s potential, asserting that together, Nigeria will forge a brighter future for generations to come.
Conclusion
The president’s speech was both reflective and forward-looking, touching on Nigeria’s achievements, current challenges, and future opportunities. His message of hope and resilience resonated with the promise of continued reforms and the vision of a united and prosperous nation.
