As the protests against hunger commences Thursday August 1, 2024, the federal government, for the umpteenth time, appealed to for peace and stability, adding that it is only under such atmosphere that the economic prosperity of the President Bola Ahmed Tinubu administration can be achieved.
But, more groups have continued to back out of the exercise as they urged the pro0protest elements to embrace dialogue and think of what could befall the nation after the protest.
“Economic prosperity for the nation remains the ultimate goal of the administration of President Bola Ahmed Tinubu because it is the engine that drives progress, lifts families from poverty, and builds strong, resilient societies.
“To achieve this goal, we must enjoy peace and stability because it is the cornerstone upon which we build trust, cooperation, and shared purpose. When peace reigns, policies yield results, businesses thrive, investments flourish, and creativity is unleashed,” it said.
Secretary to the Government of the Federation (SGF) Senator George Akume stated this Wednesday at a world press conference in Abuja.
Also at the media parley were Minister of Information and National Orientation Idris Mohammed, Minister of Budget and Economic Planning Senator Atiku Bagudu, Minister of Solid Minerals Dele Alake and Special Adviser to the President on Information and Strategy Bayo Onanuga.
All, except Onanuga, took turns to also appeal to Nigerians and also reeled out the achievements of the Tinubu administration, to improve the people’s standard of living.
Speaking to journalists, the SGF, Senator Akume said the administration inherited an economy in need of urgent, bold and imaginative reforms.
The SGF, while admitting that the reforms being undertaken by the Tinubu administration had resulted in temporary hardship, said the government was providing the leadership needed to lead Nigeria to economic prosperity.
“Policy measures including removal of an unsustainable fuel subsidy regime had to be taken. This, it must be admitted has resulted in unexpected adjustments that impacted all facets of the economy and our daily lives.
“President Bola Ahmed Tinubu sought the mandate of Nigerians to lead the nation at this difficult time because he knew that effective leadership was required to address the challenges that had accumulated over several years. That was why he sought to renew the hope of Nigerians,” he said.
…Achievements
On the achievements of the administration, Senator Akume said “within a space of fourteen months of purposeful leadership, the administration has recorded tremendous accomplishments that laid the foundation for immediate, medium and long term prosperity of Nigerians, in an inclusive manner.”
“Consequent upon the impact of the removal of subsidy, the President, working with the Governors released the sum of five billion Naira to each state to cushion the impact in an inclusive manner that prioritised the poor, vulnerable and the elderly.
“Mr. President approved a Wage Award of Thirty-five Thousand Naira for a period of six months to cushion the effect on workers. This award was higher than the minimum wage.
“Mr. President has just signed into law a new National Minimum Wage Act which prescribed N70,000:00. This represents more than 100% increase from the last minimum wage (30,000) and takes retroactive effect from April,” he said.
Akume said to cushion the high cost of foodstuff across the country, states, through their governors, were receiving twenty trailer loads of assorted grains per state, approved by the President for distribution to citizens.
“Government has removed tariffs on imported food items to bring down the prices of food stuff. Farm inputs including fertilisers, are also being made available to farmers at highly subsidised rates to boost food production and reduce cost.
“Mr President has also approved the release of sixty four trailer loads of fertilizers to each state to boost agricultural production, the SGF further added.
…Idris
Also, Minister of Information and National Orientation, Alhaji Idris, while answering questions from journalists at the press conference, disclosed that the bags of rice (50KG) to be sold by the federal government for N40,000 to cushion the effects of food inflation on Nigerians, were available.
He, however, said sale centres cannot be announced for fear of being hijacked and hoarded by middlemen and the rich in the society.
“It’s in the process of distribution to the various states. Sometimes, it is difficult to mention the routes and the time for security reasons. But the rice is already available, it is going to be sold at N40,000.
“The rice is already available, I can confirm that it is going to be sold at various points around the country.
“Care is being taken so that it would not be hijacked by people who have money. If we put it out there, they would go there and hoard it; those for whom this rice is intended will not now get the rice”, he said.
Earlier in his remarks, Idris had enumerated the achievements of President Tinubu since assuming office May 29, 2023 in different sectors of the economy.
Idris noted that the National Education Loan Fund, which was targeted at two million students, had already received 120,000 applications.
“Nigeria Education Loan (NELFund): One of the most defining approaches to easing the burden of tertiary education tuition payments on parents is the newly introduced Nigeria Education Loan (NEL-Fund), with enough budget to cover two million students.
“The Fund is active with cheques to some beneficiaries who in addition to tuition, also collect upkeep stipends. So far, over 120,000 applications have been received. All successful applicants starting fresh academic sessions will get credited without delay,” Idris assured.
He said to further cushion the effects of the petroleum subsidy removal, the Tinubu administration introduced the Presidential Grants and Loans Scheme, with the disbursement of the N50,000 grant under the 50 Billion Naira Grants component of the Scheme.
“So far, over 600,000 Nigerians have received N50,000 grants across the 774 Local Government Areas,” he said.
Idris also disclosed that the disbursement of the N150 billion MSME and Manufacturing loans will commence after the completion of the ongoing final stage of verification, by August.
According to him, the MSME loans will expectedly stimulate industry, adding that Nigerians needed to seize the opportunity.
Idris also noted that one key development in the wake of the petroleum subsidy removal is the opportunity that abound in the energy transition from petroleum to Compressed Natural Gas (CNG), for vehicles and other machinery.
The minister said, “it opens a world of opportunities for Nigerians to massively participate in the vast value chain of the CNG energy transition, which requires infrastructure rollout across Nigeria.
“The Presidential Compressed Natural Gas Initiative will bring down transportation costs for Nigerians by as much as 50 percent, while also unlocking the nation’s huge potential in the gas sector.
“CNG conversion centers are growing exponentially across the country, creating more job opportunities. Since the launch of the initiative last year, we have seen over USD 50 million in private-sector investments in setting up CNG conversion and fueling facilities nationwide. Nigerians should please key into this wealth-creating sector.”