Category: Press Release

PRESS BRIEFING BY THE HON. MINISTER, FEDERAL MINISTRY OF INNOVATION, SCIENCE, AND TECHNOLOGY ON READINESS FOR AND THE IMPLEMENTATION OF THE PRESIDENTIAL EXECUTIVE ORDER NO. 5

Good afternoon,

I warmly welcome all attendees to this press conference. The objective of this meeting is to discuss the strategic implications, promise, and readiness for Implementation of Presidential Executive Order No. 5. The Presidential Executive Order No. 5 is a visionary and transformative policy designed to drive innovation, promote science and technology, and catalyze our country’s economic diversification, technological advancement, promotion of domestic and foreign investments, reduce dependence on foreign goods and the strain on the Naira, facilitate massive job creation and industrial growth. This order aligns with and catalyzes the 8-point Renewed Hope Agenda of our dear President, Asiwaju Bola Ahmed Tinubu.

I thank the media for their prompt response to our invitation and commitment to disseminating this vital information and ensuring that critical stakeholders are adequately informed and ready for its full-scale Implementation.

Nigeria is rich in human and largely unexplored natural resources. Our predominantly youthful population is not only the largest in Africa but also ranks among the largest globally. Geographically, our country stands at Africa’s heart. Despite these assets, youth unemployment remains a massive challenge as we constantly export domestic jobs by importing many products we could competitively produce locally.

Presidential Executive Order No. 5 addresses these challenges by providing support for Made-in-Nigeria Goods and Services (MNGS), the development of homegrown capability, and the capacity to maintain, redesign, reproduce, rededicate, and duplicate any infrastructure built in Nigeria for self-reliance and development. The order also seeks to closely monitor and promote the capacity of Nigerian professionals and contractors in Science, Engineering, and Technological programs to compete with their counterparts globally.

The Strategic Implementation Task Office of the Executive Order (SITOPEO-5) will operationalize these objectives with its Presidential Monitoring and Evaluation Council. The National Office for Technology Acquisition and Promotion (NOTAP) also maintains a database of Nigerian professionals for project execution.

As part of the broader strategy, various policies and programs are in place at advanced stages of finalization:

1. National Strategy for Competitiveness in Raw Materials and Products Development: This strategy facilitates shifting from an oil and gas-dependent economy to harnessing diverse raw materials and other resources for high-quality Made-in-Nigeria products for local consumption and export.

2. National Leather and Leather Products Policy [NLLPP]: NLLPP aims to reposition Nigeria’s leather industry, shifting from raw material export to producing high-quality finished leather products.

3. National Policy on Welding and Related Fields: Our national policy on the welding agenda addresses the influx of foreign welding personnel and promotes the training and certification of Nigerian welders as per global standards. This programme will extend to other Artisans areas too as we move to standardize service delivery in the artisinal, technical and vocational spaces.

4. Methanol Fuel Technology Programme: The methanol economy revolution seeks to harness the vast potential of methanol as a clean and sustainable energy source and position the nation as a leader in Africa’s energy transition. It can potentially create over 40 million new employment opportunities in 2 years and complement other efforts in curbing the effects of fuel subsidy removal on the populace.

5. Technology and Innovation Centres: Created to unify stakeholders in the Science, Technology, and Innovation ecosystem, these centers aim to transition Nigeria from a resource-based to a knowledge economy.

6. Promotion of Locally Invented Digital Addressing Technology: This initiative addresses the critical need for efficient navigation and addressing systems for both governance and daily activities.

7. The Nigeria National Innovation Commercialization Programme (NICP): This initiative fosters scientific research and technological innovation commercialization and mainstreaming the Made-in-Nigeria Goods and Services. NICP drives economic growth and development by supporting the transformation of innovative ideas into viable products and services.

8. Clean Technology Programme: Climate Change is a global challenge requiring urgent action. This  initiative will promote home grown StartUps and MSMEs innovatively tackling this problem with cutting edge technologies, products and services, especially in the Energy Transition and Renewables space

9. Manufacturing Nigeria: This initiative will raise Nigeria’s manufacturing capacity by tackling the primary bottlenecks mitigating against manufacturing in Nigeria mainly: Dedicated Power; locally made Machines and Spares; and Technical Knowledge. Through this initiative, we will seek to considerably increase Nigeria’s export earnings and GDP, with emphasis on Green Manufacturing and Technology.

In conclusion, President Bola Tinubu’s administration is committed to solving Nigeria’s problems through Innovation and Technology. Through this Ministry, the President will create a conducive environment to nurture the innovative spirit of our youth and entrepreneurs. We see it as a pivotal moment in our nation’s history that will propel Nigeria to new heights of innovation and technological advancement.

Its full Implementation will bolster our economy, create jobs, reduce poverty, and usher in a brighter future for Nigeria. In the coming weeks, we will be releasing a more detailed road map and workplan to achieve these, while creating wealth for millions of Nigerians.

Thank you again for your time. And God Bless you, God Bless the Federal Republic of Nigeria.

Chief Uche Nnaji

Honourable Minister, Ministry of Innovation, Science and Technology

ADDRESS BY HIS EXCELLENCY, PRESIDENT BOLA AHMED TINUBU, GCFR, PRESIDENT AND COMMANDER-IN-CHIEF, FEDERAL REPUBLIC OF NIGERIA IN COMMEMORATION OF THE 63RD INDEPENDENCE ANNIVERSARY OF NIGERIA ON SUNDAY, 1ST OCTOBER, 2023

Dear Compatriots,

It is my unique honour to address you on this day, the 63rd anniversary of our nation’s independence, both as the President of our dear country and, simply, as a fellow Nigerian.

On this solemn yet hopeful day, let us commend our founding fathers and mothers. Without them, there would be no modern Nigeria. From the fading embers of colonialism, their activism, dedication and leadership gave life to the belief in Nigeria as a sovereign and independent nation.

Let us, at this very moment, affirm that as Nigerians, we are all endowed with the sacred rights and individual gifts that God has bestowed on us as a nation and as human beings. No one is greater or lesser than the other. The triumphs that Nigeria has achieved shall define us. The travails we have endured shall strengthen us. And no other nation or power on this earth shall keep us from our rightful place and destiny. This nation belongs to you, dear people. Love and cherish it as your very own.

Nigeria is remarkable in its formation and essential character. We are a broad and dynamic blend of ethnic groups, religions, traditions and cultures. Yet, our bonds are intangible yet strong, invisible yet universal. We are joined by a common thirst for peace and progress, by the common dream of prosperity and harmony and by the unifying ideals of tolerance and justice.

Forging a nation based on the fair application of these noble principles to a diverse population has been a task of significant blessing but also serial challenge. Some people have said an independent Nigeria should never have come into existence. Some have said that our country would be torn apart. They are forever mistaken. Here, our nation stands and here we shall remain.

This year, we passed a significant milestone in our journey to a better Nigeria. By democratically electing a 7th consecutive civilian government, Nigeria has proven that commitment to democracy and the rule of law remains our guiding light.

At my inauguration, I made important promises about how I would govern this great nation. Among those promises, were pledges to reshape and modernize our economy and to secure the lives, liberty and property of the people.

I said that bold reforms were necessary to place our nation on the path of prosperity and growth. On that occasion, I announced the end of the fuel subsidy.

I am attuned to the hardships that have come. I have a heart that feels and eyes that see. I wish to explain to you why we must endure this trying moment. Those who sought to perpetuate the fuel subsidy and broken foreign exchange policies are people who would build their family mansion in the middle of a swamp. I am different. I am not a man to erect our national home on a foundation of mud. To endure, our home must be constructed on safe and pleasant ground.

Reform may be painful, but it is what greatness and the future require. We now carry the costs of reaching a future Nigeria where the abundance and fruits of the nation are fairly shared among all, not hoarded by a select and greedy few. A Nigeria where hunger, poverty and hardship are pushed into the shadows of an ever fading past.

There is no joy in seeing the people of this nation shoulder burdens that should have been shed years ago. I wish today’s difficulties did not exist. But we must endure if we are to reach the good side of our future.

My government is doing all that it can to ease the load. I will now outline the path we are taking to relieve the stress on our families and households.

We have embarked on several public sector reforms to stabilize the economy, direct fiscal and monetary policy to fight inflation, encourage production, ensure the security of lives and property and lend more support to the poor and the vulnerable.

Based on our talks with labour, business and other stakeholders, we are introducing a provisional wage increment to enhance the federal minimum wage without causing undue inflation. For the next six months, the average low-grade worker shall receive an additional Twenty-Five Thousand naira per month.

To ensure better grassroots development, we set up an Infrastructure Support Fund for states to invest in critical areas. States have already received funds to provide relief packages against the impact of rising food and other prices.

Making the economy more robust by lowering transport costs will be key. In this regard, we have opened a new chapter in public transportation through the deployment of cheaper, safer Compressed Natural Gas (CNG) buses across the nation. These buses will operate at a fraction of current fuel prices, positively affecting transport fares.

New CNG conversions kits will start coming in very soon as all hands are on deck to fast track the usually lengthy procurement process. We are also setting up training facilities and workshops across the nation to train and provide new opportunities for transport operators and entrepreneurs. This is a groundbreaking moment where, as a nation, we embrace more efficient means to power our economy. In making this change, we also make history.

I pledged a thorough housecleaning of the den of malfeasance the CBN had become. That housecleaning is well underway. A new leadership for the Central Bank has been constituted. Also, my special investigator will soon present his findings on past lapses and how to prevent similar reoccurrences. Henceforth, monetary policy shall be for the benefit of all and not the exclusive province of the powerful and wealthy.

Wise tax policy is essential to economic fairness and development. I have inaugurated a Committee on Tax Reforms to improve the efficiency of tax administration in the country and address fiscal policies that are unfair or hinder the business environment and slow our growth.

To boost employment and urban incomes, we are providing investment funding for enterprises with great potential. Similarly, we are increasing investment in micro, small and medium-sized enterprises.

Commencing this month, the social safety net is being extended through the expansion of cash transfer programs to an additional 15 million vulnerable households.

My administration shall always accord the highest priority to the safety of the people. Inter-Service collaboration and intelligence sharing have been enhanced. Our Service Chiefs have been tasked with the vital responsibility of rebuilding the capacities of our security services.

Here, I salute and commend our gallant security forces for keeping us safe and securing our territorial integrity. Many have paid the ultimate sacrifice. We remember them today and their families. We shall equip our forces with the ways and means needed to perform their urgent task on behalf of the people,

We shall continue to make key appointments in line with the provisions of the Constitution and with fairness toward all. Women, Youth and the physically challenged shall continue to be given due regard in these appointments.

May I take this opportunity to congratulate the National Assembly for its role in the quick take-off of this administration through the performance of its constitutional duties of confirmation and oversight.

I similarly congratulate the judiciary as a pillar of democracy and fairness.

I also thank members of our dynamic civil society organizations and labour unions for their dedication to Nigerian democracy. We may not always agree but I value your advice and recommendations. You are my brothers and sisters and you have my due respect.

Fellow compatriots, the journey ahead will not be navigated by fear or hatred. We can only achieve our better Nigeria through courage, compassion and commitment as one indivisible unit.

I promise that I shall remain committed and serve faithfully. I also invite all to join this enterprise to remake our beloved nation into its better self. We can do it. We must do it. We shall do it.!!!

I wish you all a happy 63rd Independence Anniversary.

Thank you for listening.

May God bless the Federal Republic of Nigeria.

1. It is with a deep sense of honour that I express my profound felicitations to the President and Commander-In- Chief of the Armed Forces of the Federal Republic of Nigeria, *His Excellency, Sen. Asiwaju Bola Ahmed Tinubu,GCFR* and indeed all Nigerians on this grand occasion of the celebration of 63 years of the Independence of Nigeria, this 1st day of October, 2023.

2. This year’s Independence Aniversary is remarkable as it is historic; it is an event that marks the first Independence Anniversary celebration under the administration of a leader par excellence and living legend who made inestimable sacrifice for the survival our nationhood. We remember with nostalgia the great zeal with which our forebearers received the Charter of Freedom from our colonial masters on that glorious day and the turbulence that greeted our journey to nationhood till this administration came on board. Today, the Renewed Hope agenda of Mr President has come with a Divine purpose for the actualization of the dreams of our founding fathers and the aspirations of Nigerians.

3 Although the challenges are well accumulated and humongous, we vouch that with Mr President who is a man of honour, courage and great integrity, the glory of our nation shall return to its pride of place. We pledge to work consertedly to improve the quality of life of Nigerians and prosper their livelihood. It is a mission that must be accomplished and a determination that requires the cooperation all Nigerians and the collaboration of all stakeholders for us to succeed. Let’s together renew our covenant with God and confidence in the Renewed Hope Agenda of our dear President in this onerous task.

4. As we celebrate a new anniversary of our nationhood, may God continue to bind us together in love , unity and faith and may we progress in bounds in our determination to transform the socio- economic narrative of our nation. Please, accept always the assurances of the esteemed regards and best wishes of my family, the management and staff of the Federal Ministry of Works .

Sen. Engr. David Nweze Umahi, FNSE, FNATE, CON, GGCEHF
Hon. Minister of Works

It has become necessary to clarify issues concerning the first intervention on roads by Enugu State Government.

The State Government leadership is fiscally responsible and is dedicated to transparency and accountability. The road projects mentioned at a news interview by the Hon commissioner for Works and Infrastructure were informative and not an award announcement. It is to be understood that the road projects announced will go through due process and included in the supplementary budget before the bid process and award commence.

His Excellency Dr. Peter Mbah mentioned these projects in his 100 days in office to inform the people of Enugu State that the process has started. Once these road projects are reflected in the supplementary budget and approved by the State House of Assembly the government will commence the due process. Only thereafter would the winning companies be presented; and for those that meet the threshold for value for money and other measurement indicators approval shall be given by the State Executive Council.

It is at that time that it will be awarded and announced.

In the light of the above Ndi Enugu should discountenance the fake news about some roads being circulated. The exercise cannot be done in the dark as the transparency of government in its activities is guaranteed.

To check the wild imaginations of vendors of fake news, the phone number of the Honorable Commissioner for Information is in the public domain for immediate and further clarifications.

Signed:
Aka Eze Aka
Hon. Commissioner for Information and Communication, Enugu State.

Consequent upon the revelation that Certified True Copies (CTC) of the recent judgment by the Presidential Election Petition Court (PEPC) had an imprint, “Tinubu Presidential Legal Team” (TPLT) as its header, Nigerians are curious about such happenstance that has inevitably generated storm and controversy.

The Labour Party was very disturbed by the delay in releasing the judgment expeditiously, only to be confronted with this befuddlement. The public is equally at pains trying to comprehend what is happening.

The onus of explaining and dousing the unfolding controversy rests on the PEPC and the TPLT, the imprint owners. Clearly, the header is not a watermark. We note that only some of the petitioners received the same version.

In a highly contentious case with dire national interest and implications, confirming that the PEPC did not confer any advantage, rights, or privileges to any party is imperative. This development must be cleared up quickly to avoid conjectures and the belief that something untoward happened. This cannot be the case of another glitch.

The unsigned and undated statement issued puportedly by a senior counsel on behalf of the Tinubu Legal Team is misconceived and empty. The senior counsel claimed that the header is a watermark! It is not and can never be. Typically, a watermark is a faint imprint or design made on some papers during production and which can be seen when held up to the light. It helps in checking the genuineness of the paper.

The senior counsel is responsible for unsubstantiating his claims and should not pass the buck to innocent parties. We of the Labour Party place it on record that the counsel who collected the judgment on behalf of our party and our candidate did so long after a representative of Tinubu Legal Team.

Meanwhile, we call on the PEPC and APC to come clean on the CTC imprint and disclose whose imprimatur is inscribed on the entire judgment. Nigerians deserve the right to know and are demanding urgent answers.

SIGN
Obiora Ifoh National Publicity Secretary Labour Party
10-09-2023

ENUGU POLICE OPERATIVES ARREST 4 FOR DIFFERENT OFFENCES, RESCUE 5 ABDUCTED VICTIMS, RECOVER FIREARMS, AMMUNITION, VEHICLE, HOUSEHOLDS ITEMS, GOODS, AND OTHER INCRIMINATING EXHIBITS;

…as CP Ammani commends and urges operatives not to rest on their oars

Police Operatives of Enugu State have arrested a total of four (4) male victims involved in different offenses of conspiracy, housebreaking and vandalism, and unlawful possession of firearm and ammunition. The arrest and other credible information-guided operations led to the rescue of five (5) abducted individuals and the recovery of three (3) firearms with two (2) live cartridges, one mini truck, a laptop, assorted phones, household items and goods, among other incriminating exhibits.

2. Accordingly, Police Special Forces and Operatives serving in Igbo-Eze North Police Division of the Command, in synergy with Neighbourhood Watch Group personnel, on 14/08/2023 at about 1.10pm, raided suspected IPOB/ESN subversive criminal hideouts, at Nkpamte community in Igbo-Eze North LGA. One (1) locally fabricated double-barreled pistol loaded with one (1) live cartridge, components of a Pump Action gun, one (1) Medion laptop, eleven (11) assorted mobile phones and several phone charges. Meanwhile, an intensive manhunt is ongoing to apprehend the hoodlums, who escaped on sighting the Operatives.

3. Similarly, Police Operatives serving in Udenu Area Command of the State Command, working with a security personnel (names withheld), on 08/08/2023 at about 3.30pm, arrested one Chinemerem Ugwueze (male), aged 23, of Imilike-Enu in Udenu Local Government Area and recovered in his unlawful possession, one (1) locally made double-barreled pistol. The case is undergoing discreet investigation at the Firearm Section of the State CID Enugu.

4. Also, acting on a distress call, Police Operatives serving in 9th Mile Police Division of the Command, together with Troops of the Nigerian Army, on 07/08/2023 at about 5pm, rescued five (5) male victims in a forest at Umulumgbe in Udi LGA, who were alleged to have been kidnapped on their way back from a traditional marriage at Ukehe community in Igbo-Etiti LGA. The victims have reunited with their families, while an intense manhunt operation is ongoing to fish out the fleeing suspects.

5. Furthermore, on 04/08/2023 at about 9.30pm, Police Operatives serving in New Haven Police Division of the Command recovered a locally fabricated pistol loaded with a live cartridge, from fleeing suspects that attempted to abduct their male victim to an unknown destination. The victim, who had parked his car to make a call along Chime Avenue, Enugu, was the accosted by the hoodlums operating in a Lexus Jeep, who forced him into their vehicle. He, however, summoned courage and disarmed one of the miscreants of the firearm, escaped and handed the pistol over to the Police. Meanwhile, a frantic, discreet investigative effort is ongoing to apprehend the fleeing hoodlums.

6. In a different development, Police Operatives serving in Abakaliki Road Police Division of the State Command, between July 14 and 24, 2023, arrested three suspects namely: Igwe Solomon, aged 25, Ikenna Aniekwe, aged 34, and Obasi Onyedika, aged 32, at different locations in Enugu metropolis, for conspiracy, vandalism and housebreaking, following the receipt of complaints and credible information.

7. Preliminary investigation shows that Igwe Solomon specializes in breaking into people’s houses and shops, from where he carts away valuable household items and goods, and sells same to Ikenna Aniekwe, who owns a shop at Kenyatta market, while Obasi Onyedika acts facilitates the conveyance of the items to the receiver. The exhibits recovered from them include: 1 white coloured Dina vehicle with registration number: ENU 673 ZE, 5 Royal Air-Conditioners, 2 Chest Freezers, 6 Royal Air-conditioner Compressors, 2 generators, a 48-inches Samsung Television and a 50-inches LG Television each, 4 Gee-Pee water tanks, 8 pieces of water heaters, 12 iron burglary proofs, 2 iron windows and 7 pieces Water Closets.

8. All the suspects will be arraigned in court upon completion of the investigations.

9. Meanwhile, the Commissioner of Police, *CP Ahmed Ammani, fdc*, has commended the Operatives and all who supported them in actualizing the operational feats. He charges them not to rest on their oars in ensuring that security and safety are maximally maintained in the State.

DSP DANIEL NDUKWE, anipr

Police Public Relations Officer,

State Headquarters,

GRA, Enugu.

Recent developments in neighbouring Niger Republic have become the subject of international attention.

For Nigeria, this development is a matter of dire and urgent national interest and security.

Inevitably, Niger is a hot button issue for ECOWAS, as well as various international interlocutors.

Regardless of the positions taken by various parties that have direct or tangential interests in Niger, primacy must be given to dialogue and diplomacy towards a resolution with minimal disruptive impact on Nigeria and the West African sub region. A total diplomatic resolution must take into consideration the reapolitik of the West African subregion.

I applaud the respective mediatory efforts by Gen. Abudusalami Abubakar, His Eminence Muhammadu Sa’ad Abubakar, the Sultan of Sokoko and His Royal Highness Sanusi Lamido Sanusi.

Whereas ECOWAS authorities have indicated that they remain open to various conflict resolution options, it is imperative that diplomacy should remain the overarching imperative in resolving the present crisis.

I join the many well-meaning Nigerians who have advocated that any intervention in the crisis, should be pre-eminently through diplomatic dialogue among all strategic interests in the crisis.

It is, therefore, imperative that the people of Niger are allowed via their national institutions, the opportunity to revert quickly to a representative democratic government.

All national, regional and international assistance should be extended to the people of Niger to return their country to normalcy.

While ECOWAS must seek to discourage the spread of military dictatorships in West Africa, the recourse to armed deterrence must be restrained by multilateral diplomatic mechanisms.

What the situation in Niger urgently calls for is a concerted multilateral coalition of Nigeria, ECOWAS, the AU and the UN towards a programmed return to a democratic constitutional order. In this process, Nigeria’s leadership role must not be in any doubt.

-PO

Mr Tinubu acknowledged that many Nigerians were facing hardships due to his government’s policies.

“The cost of fuel has gone up. Food and other prices have followed it,” he said.

Read the full text of the president’s speech below.

TEXT OF THE NATIONAL BROADCAST BY PRESIDENT BOLA TINUBU TO NIGERIANS ON CURRENT ECONOMIC CHALLENGES.

AFTER DARKNESS COMES THE GLORIOUS DAWN

My fellow citizens,

I want to talk to you about our economy. It is important that you understand the reasons for the policy measures I have taken to combat the serious economic challenges this nation has long faced.

2. I am not going to talk in difficult terms by dwelling on economic jargon and concepts. I will speak in plain, clear language so that you know where I stand. More importantly, so that you see and hopefully will share my vision regarding the journey to a better, more productive economy for our beloved country.

3. For several years, I have consistently maintained the position that the fuel subsidy had to go. This once beneficial measure had outlived its usefulness. The subsidy cost us trillions of Naira yearly. Such a vast sum of money would have been better spent on public transportation, healthcare, schools, housing and even national security. Instead, it was being funnelled into the deep pockets and lavish bank accounts of a select group of individuals.

4. This group had amassed so much wealth and power that they became a serious threat to the fairness of our economy and the integrity of our democratic governance. To be blunt, Nigeria could never become the society it was intended to be as long as such small, powerful yet unelected groups hold enormous influence over our political economy and the institutions that govern it.

5. The whims of the few should never hold dominant sway over the hopes and aspirations of the many. If we are to be a democracy, the people and not the power of money must be sovereign.

6. The preceding administration saw this looming danger as well. Indeed, it made no provision in the 2023 Appropriations for subsidy after June this year. Removal of this once helpful device that had transformed into a millstone around the country’s neck had become inevitable.

7. Also, the multiple exchange rate system that had been established became nothing but a highway of currency speculation. It diverted money that should have been used to create jobs, build factories and businesses for millions of people. Our national wealth was doled on favourable terms to a handful of people who have been made filthy rich simply by moving money from one hand to another. This too was extremely unfair.

8. It also compounded the threat that the illicit and mass accumulation of money posed to the future of our democratic system and its economy.

9. I had promised to reform the economy for the long-term good by fighting the major imbalances that had plagued our economy. Ending the subsidy and the preferential exchange rate system were key to this fight. This fight is to define the fate and future of our nation. Much is in the balance.

10. Thus, the defects in our economy immensely profited a tiny elite, the elite of the elite you might call them. As we moved to fight the flaws in the economy, the people who grow rich from them, predictably, will fight back through every means necessary.

11. Our economy is going through a tough patch and you are being hurt by it. The cost of fuel has gone up. Food and other prices have followed it. Households and businesses struggle. Things seem anxious and uncertain. I understand the hardship you face. I wish there were other ways. But there is not. If there were, I would have taken that route as I came here to help not hurt the people and nation that I love.

12. What I can offer in the immediate is to reduce the burden our current economic situation has imposed on all of us, most especially on businesses, the working class and the most vulnerable among us.

13. Already, the Federal Government is working closely with states and local governments to implement interventions that will cushion the pains of our people across socio-economic brackets.

14. Earlier this month, I signed four (4) Executive Orders in keeping with my electoral promise to address unfriendly fiscal policies and multiple taxes that are stifling the business environment. These Executive Orders on suspension and deferred commencement of some taxes will provide the necessary buffers and headroom to businesses in the manufacturing sector to continue to thrive and expand.

15. To strengthen the manufacturing sector, increase its capacity to expand and create good paying jobs, we are going to spend N75 billion between July 2023 and March 2024. Our objective is to fund 75 enterprises with great potential to kick-start a sustainable economic growth, accelerate structural transformation and improve productivity. Each of the 75 manufacturing enterprises will be able to access N1 Billion credit at 9% per annum with maximum of 60 months repayment for long term loans and 12 months for working capital.

16. Our administration recognises the importance of micro, small and medium-sized enterprises and the informal sector as drivers of growth. We are going to energise this very important sector with N125 billion.

17. Out of the sum, we will spend N50 billion on Conditional Grant to 1 million nano businesses between now and March 2024. Our target is to give N50,000 each to 1,300 nano business owners in each of the 774 local governments across the country.

18. Ultimately, this programme will further drive financial inclusion by onboarding beneficiaries into the formal banking system. In like manner, we will fund 100,000 MSMEs and start-ups with N75 billion. Under this scheme, each enterprise promoter will be able to get between N500,000 to N1million at 9% interest per annum and a repayment period of 36 months.

19. To further ensure that prices of food items remain affordable, we have had a multi-stakeholder engagement with various farmers’ associations and operators within the agricultural value chain.

20. In the short and immediate terms, we will ensure staple foods are available and affordable. To this end, I have ordered the release of 200,000 Metric Tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices. We are also providing 225,000 metric tonnes of fertilizer, seedlings and other inputs to farmers who are committed to our food security agenda.

21. Our plan to support cultivation of 500,000 hectares of farmland and all-year-round farming practice remains on course. To be specific, N200 billion out of the N500 billion approved by the National Assembly will be disbursed as follows:

-Our administration will invest N50 billion each to cultivate 150,000 hectares of rice and maize.

-N50 billion each will also be earmarked to cultivate 100,000 hectares of wheat and cassava.

22. This expansive agricultural programme will be implemented targeting small-holder farmers and leveraging large-scale private sector players in the agric business with strong performance record.

23. In this regard, the expertise of Development Finance Institutions, commercial banks and microfinance banks will be tapped into to develop a viable and an appropriate transaction structure for all stakeholders.

24. Fellow Nigerians, I made a solemn pledge to work for you. How to improve your welfare and living condition is of paramount importance to me and it’s the only thing that keeps me up day and night.

25. It is in the light of this that I approved the Infrastructure Support Fund for the States. This new Infrastructure Fund will enable States to intervene and invest in critical areas and bring relief to many of the pain points as well as revamp our decaying healthcare and educational Infrastructure.

26. The fund will also bring improvements to rural access roads to ease evacuation of farm produce to markets. With the fund, our states will become more competitive and on a stronger financial footing to deliver economic prosperity to Nigerians.

27. Part of our programme is to roll out buses across the states and local governments for mass transit at a much more affordable rate. We have made provision to invest N100 billion between now and March 2024 to acquire 3000 units of 20-seater CNG-fuelled buses.

28. These buses will be shared to major transportation companies in the states, using the intensity of travel per capital. Participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period.

29. In the same vein, we are also working in collaboration with the Labour unions to introduce a new national minimum wage for workers. I want to tell our workers this: your salary review is coming.

30. Once we agree on the new minimum wage and general upward review, we will make budget provision for it for immediate implementation.

31. I want to use this opportunity to salute many private employers in the Organised Private Sector who have already implemented general salary review for employees.

32. Fellow Nigerians, this period may be hard on us and there is no doubt about it that it is tough on us. But I urge you all to look beyond the present temporary pains and aim at the larger picture. All of our good and helpful plans are in the works. More importantly, I know that they will work.

33. Sadly, there was an unavoidable lag between subsidy removal and these plans coming fully online. However, we are swiftly closing the time gap. I plead with you to please have faith in our ability to deliver and in our concern for your well-being.

34. We will get out of this turbulence. And, due to the measures we have taken, Nigeria will be better equipped and able to take advantage of the future that awaits her.

35. In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters. That money will now be used more directly and more beneficially for you and your families.

36. For example, we shall fulfill our promise to make education more affordable to all and provide loans to higher education students who may need them. No Nigerian student will have to abandon his or her education because of lack of money.

37. Our commitment is to promote the greatest good for the greatest number of our people. On this principle, we shall never falter.

38. We are also monitoring the effects of the exchange rate and inflation on gasoline prices. If and when necessary, we will intervene.

39. I assure you my fellow country men and women that we are exiting the darkness to enter a new and glorious dawn.

40. Now, I must get back to work in order to make this vision come true.

41. Thank you all for listening and may God bless the Federal Republic of Nigeria.

As to be expected, I, like millions of other Nigerians, am shocked by the latest turn of events in Niger Republic.

Concerns have been raised about the fate of democracy as a system of government in the country and in the wider sub-region, and equally so, about the safety of President Mohammed Bazoum and his family.

I and my family are as much concerned about these as is everyone else.

It is heartening to note that the ECOWAS, under the leadership of President Bola Ahmed Tinubu, is already dealing effectively with the matter, and our hope and prayers are that the unwanted situation will be completely reversed and the safety and well-being of President Bazoum and his family ensured.

Muhammadu Buhari