In a New Year broadcast that echoed with both reassurance and ambition, President Bola Ahmed Tinubu outlined the groundwork laid by his administration to address the multiple challenges facing Nigerians.
Emphasising resilience and a collective commitment to a better 2024, the President’s speech touched on critical issues ranging from the economy and security to social welfare.
The President acknowledged the prevalent concerns over the rising cost of living, high inflation rates exceeding 28% and an unacceptable level of underemployment. These issues have been at the forefront of public discourse, echoing from the boardrooms in Lagos to the main streets in Kano and the Nembe Creeks in Bayelsa.
The President, however, said the groundwork for economic recovery plans, initiated in the last seven months of 2023, sets the stage for accelerated service delivery across various sectors.
He highlighted a significant development achieved during COP28 in Dubai, where he and the German Chancellor, Olaf Scholz, committed to a new deal expediting the Siemens Energy power project.
This initiative, under the Presidential Power Initiative, launched in 2018, aims to deliver a reliable electricity supply to homes and businesses.
The commitment to strengthening the nation’s power infrastructure extends to ongoing projects aimed at fortifying transmission lines and optimizing the integrity of the National grid.
Recognising the pivotal role of steady electricity supply in economic transformation, the President outlined plans to restart local refining of petroleum products with the Port Harcourt Refinery and the anticipated full operation of the Dangote Refinery.
To ensure constant food supply, security, and affordability, the President announced plans to cultivate 500,000 hectares of farmlands across the country. The focus will be on growing staple crops such as maize, rice, wheat, millet and more. The President also highlighted the initiation of the National Wheat Development Programme, launching dry-season farming with 120,000 hectares of land in Jigawa State in November.
Looking ahead to 2024, the President emphasized the need for comprehensive fiscal and tax policy reforms, ensuring codification and simplification to create a business environment that does not destroy value.
He reiterated his message to investors on foreign trips, stressing that Nigeria is ready and open for business.
The President also committed to overcoming obstacles hindering business competitiveness, pledging to remove any clogs obstructing the path to making Nigeria a preferred destination for local and foreign investments.
The President also outlined eight priority areas: national defence and internal security, job creation, macro-economic stability, investment environment optimization, human capital development, poverty reduction and social security. This reflects a serious commitment to achieving governance objectives that will impact every Nigerian positively.
A significant announcement was the commitment to implementing a new national living wage for industrious workers in 2024. The President stressed that beyond being good economics, it is a morally and politically correct decision, aligning with his oath to serve the country and ensure the best for its citizens.
President Tinubu shared his major ambition in government – to build a fair and equitable society, addressing the widening inequality. While recognising the legitimacy of earned wealth, the President highlighted the government’s commitment to ensuring that any Nigerian who works hard and diligently will have an opportunity to get ahead in life. Despite acknowledging the inherent inequalities due to diverse talents and strengths, the President pledged to work towards providing equal opportunities for every Nigerian to strive and thrive.
The President also acknowledged the challenges of the past year, which he described as a transition year marked by a peaceful, orderly and successful transfer of power.
He recognized the faith placed in him by the people, outlining the mandate to improve the country, revamp the economy, restore security, boost industrial and agricultural sectors, increase productivity and set Nigeria on an irreversible path towards greatness.
The President reflected on key decisions taken over the past seven months to avert fiscal catastrophe, including the removal of fuel subsidies and the restructuring of the foreign exchange system. While acknowledging the discomfort caused by these decisions, President Tinubu affirmed that they were necessary for the country’s long-term stability and economic health. He highlighted the unsustainable burden of the fuel subsidy, a four-decade-old financial strain on the nation and the need to dismantle the chokehold of a few on the foreign exchange system.
Tinubu’s commitment to the well-being of Nigerians was evident in his insistence that no excuse for poor performance from his appointees would be acceptable. The establishment of the Policy Coordination, Evaluation, Monitoring, and Delivery Unit in the Presidency is a strategic move to ensure governance output directly improves the living conditions of Nigerians. The President set clear parameters for evaluation, indicating that within the first quarter of the new year, Ministers and Heads of Agencies would be held accountable.
The President concluded his address with a powerful appeal for unity, urging joint efforts for the peace, progress and stability of the country. This call extended to political opponents, emphasizing that the time for collaboration has arrived.
With a metaphorical reference to the light each individual carries, the President encouraged men and women, young and old, to shine bright collectively, illuminating the path to a glorious dawn.
The New Year broadcast encapsulated the President’s vision for Nigeria in 2024. As Nigeria steps into the new year, guided by the contours of this vision, the hope is that the outlined plans and commitments will translate into tangible improvements, creating a more prosperous, equitable and united nation for all Nigerians.
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