July 31, (THEWILL) – President Bola Ahmed Tinubu has called on Nigerians to be patient with his administration, saying that things would get better in due time.
Speaking in a nationwide broadcast on Monday, Tinubu said he knew Nigerians are suffering owing to the removal of fuel subsidy, which he claimed had cost the country trillions of Naira.
He noted that the country was going through a tough patch and many people are being hurt by his plans.
His words: “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.”
Tinubu said in the short and immediate terms, he 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.
“Our plan to support the 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.
“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 records.
“In this regard, the expertise of Development Finance Institutions, commercial banks and microfinance banks will be tapped into to develop a viable and appropriate transaction structure for all stakeholders,” he stated.
He also pledged that part of the programmes to cushion the effects of current hardship is to roll out buses across the 36 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.
“These buses will be shared to major transportation companies in the States, using the intensity of travel per capita. Participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period.
“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.
“Once we agree on the new minimum wage and general upward review, we will make budget provision for it for immediate implementation.”
AYO ESAN, has been actively reporting and analyzing political events for different newspapers for over 18 years. He has also successfully covered national and state elections in Nigeria since the inception of this democracy in 1999.
