In his national address commemorating Nigeria’s 64th Independence Anniversary, President Bola Ahmed Tinubu touched on several critical issues affecting the nation, ranging from economic reforms to national security and youth empowerment. Here are the 12 key takeaways from the President’s speech:
1. Economic Challenges and Reforms
President Tinubu acknowledged the economic hardship many Nigerians face due to rising costs and unemployment. He emphasized that reforms are underway, promising improvements. “Our administration knows that many of you struggle with rising living costs and the search for meaningful employment. I want to assure you that your voices are heard.”
The President urged Nigerians to remain patient as the reforms take effect, stating.“I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel.”
2. Nigeria’s Achievements and Resilience
Reflecting on the country’s post-independence journey, Tinubu highlighted Nigeria’s resilience in overcoming crises. “While it is tempting to focus on what has been left undone… we must never lose sight of how far we have come in forging and holding our country together.”
He reminded Nigerians that the country’s survival through challenges was remarkable. “Since independence, our nation has survived many crises and upheavals that led to the dissolution and disintegration of many other nations worldwide.”
3. Security
President Tinubu claimed progress in fighting terrorism and banditry, particularly in the North, stating that “Our administration is winning the war on terror and banditry… over 300 Boko Haram and bandit commanders have been eliminated by our gallant troops.”
He also highlighted the restoration of peace in various communities, “We have restored peace to hundreds of communities in the North, and thousands of our people have been able to return home.”
4. Disaster Relief
The President announced the establishment of a Disaster Relief Fund to respond faster to emergencies, particularly following recent floods. “We approved a Disaster Relief Fund to mobilize private and public sector funds to help us respond faster to emergencies.”
Additionally, he highlighted directing for safety inspections of all dams to prevent future disasters, “Our government has also ordered integrity tests of all our dams in the country to avert future disasters.”
5. Economic Growth and Foreign Investments
Tinubu stressed the importance of correcting fiscal misalignments to secure Nigeria’s future. “If we do not correct the fiscal misalignments… our country will face an uncertain future.”
He highlighted the positive impact of reforms, stating that over $30 billion in foreign investments had been secured within the past year,
“Thanks to the reforms, our country attracted foreign direct investments worth more than $30 billion in the last year.”
6. Oil and Gas Sector Reforms
In the energy sector, Tinubu announced that the ExxonMobil-Seplat divestment would soon receive approval, bolstering Nigeria’s oil and gas production.
“The ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA.”
7. Fiscal Stability
The President underscored his administration’s commitment to reducing Nigeria’s debt burden, revealing a significant improvement in the debt-service ratio.
“We have reduced the debt service ratio from 97 per cent to 68 per cent… we have managed to keep our foreign reserve at $37 billion.”
8. Economic Stabilization Bills
Tinubu highlighted steps taken to stimulate investment and create jobs through the approval of new Economic Stabilization Bills.
He said, “The Federal Executive Council approved the Economic Stabilisation Bills… these transformative bills will make our business environment more friendly, stimulate investment, and reduce the tax burden.”
9. Agriculture and Mechanized Farming
To boost food production, the government is investing in agriculture, providing essential resources such as fertilizers and farming equipment. “We are playing our part by supplying fertilizer and making tractors and other farm equipment available.”
The President also announced plans for a local assembly plant for farm machinery, set to be completed in six months, “The Federal Executive Council approved establishing a local assembly plant for 2000 John Deere tractors… the plant has a completion time of six months.”
10. Youth Empowerment and National Unity
Tinubu stressed the importance of youth participation in national development, announcing the convening of a National Youth Conference. “I am pleased to announce the gathering of a National Youth Conference… it will provoke meaningful dialogue and empower our young people to participate actively in nation-building.”
Additionally, he said the government is rolling out the 3 Million Technical Talents Programme to enhance Nigeria’s technical workforce. “We are implementing… the 3 million Technical Talents programme… aimed at building Nigeria’s technical talent backbone.”
11. Conferment of National Honours
The President also announced the conferment of national honours on the Senate President and the Chief Justice of the Federation.
“The Senate President and the Chief Justice of the Federation have been conferred with the honour of the Grand Commander of the Order of the Niger (GCON).”
12. Call for National Unity and Progress
Closing his address, Tinubu urged Nigerians to stay united as the nation moves toward a better future.
“The road ahead may be challenging, but we will forge a path toward a brighter future with your support.”
Nigeria marks its 64th Independence anniversary, celebrating its journey since October 1, 1960, when it gained freedom from British colonial rule.
As Africa’s most populous country and largest economy, Nigeria reflects on its achievements during the celebration while facing the need for unity, good governance, and sustainable development.
