Key takeaways from Tinubu’s independence day address

In the early hours of Tuesday, President Bola Tinubu addressed the nation in celebration of Nigeria’s 64th Independence Anniversary.

During his October 1st speech, the President outlined key promises and highlighted the reforms being implemented by his administration.

Here are ten major points from the President’s Independence Day speech.

– Tinubu in his speech, expressed awareness of the struggles been faced by many Nigerians under his administration.

He said, “I am deeply aware of the struggles many of you face in these challenging times. 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.

Bola Tinubu

“As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, 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.”

– President Tinubu noted that his administration has reformed the political economy and defence architecture.

He said, “My administration took over the leadership of our country 16 months ago at a critical juncture. The economy faced many headwinds, and our physical security was highly impaired. We found ourselves at a dizzying crossroads, where we must choose between two paths: reform for progress and prosperity or carry on business-as-usual and collapse. We decided to reform our political economy and defence architecture.”

– The President on Tuesday confirmed that Nigeria is winning the war on terror and banditry, adding that the target is to eliminate all the threats of Boko Haram, banditry, kidnapping for ransom.

He added, “On the security front, I am happy to announce to you, my compatriots, that our administration is winning the war on terror and banditry. Our target is to eliminate all the threats of Boko Haram, banditry, kidnapping for ransom, and the scourge of all forms of violent extremism.

“Within one year, our government has eliminated Boko Haram and bandit commanders faster than ever. As of the last count, over 300 Boko Haram and bandit commanders have been eliminated by our gallant troops in the Northeast, Northwest, and some other parts of the country.”

– The Federal Executive Council (FEC) approved a Disaster Relief Fund to mobilise private and public sector funds to help respond faster to emergencies.

He said, “Our government has been responding to the recent natural disasters, particularly the flooding in parts of the country. After Vice President Kashim Shettima visited Maiduguri, I also visited to assure our people that this federal government will always stand with our people in their times of trouble. At the last meeting of the Federal Executive Council, we approved a Disaster Relief Fund to mobilise private and public sector funds to help us respond faster to emergencies.”

– Tinubu noted that his administration has attracted foreign direct investments worth more than $30 billion in the last year.

The President said, “Thanks to the reforms, our country attracted foreign direct investments worth more than $30 billion in the last year.

“Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes.”

– According to President Tinubu, the decision taken by the Central Bank has ensured stability and predictability in our foreign exchange market.

The President said, “The more disciplined approach adopted by the Central Bank to monetary policy management has ensured stability and predictability in our foreign exchange market. We inherited a reserve of over $33 billion 16 months ago. Since then, we have paid back the inherited forex backlog of $7 billion.

“We have cleared the ways and means debt of over N30 trillion. We have reduced the debt service ratio from 97 per cent to 68 per cent. Despite all these, we have managed to keep our foreign reserve at $37 billion. We continue to meet all our obligations and pay our bills.”

– He spoke on the plan to implement the Supreme Court judgment on the financial autonomy of local governments.

Tinubu further stated, “As part of our efforts to re-engineer our political economy, we are resolute in our determination to implement the Supreme Court judgment on the financial autonomy of local governments.”

– He assured Nigerians that the country is implementing many measures to reduce the cost of living here at home.

Tinubu disclosed, “The central concern of our people today is the high cost of living, especially food costs. This concern is shared by many around the globe as prices and the cost of living continue to rise worldwide.

“My fellow Nigerians, be assured that we are implementing many measures to reduce the cost of living here at home.”

– The President also spoke on the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players.

He said, “Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation.”

– Tinubu announced the gathering of a National Youth Conference.

He said, “I am pleased to announce the gathering of a National Youth Conference. This conference will be a platform to address the diverse challenges and opportunities confronting our young people, who constitute more than 60 per cent of our population.

“It will provoke meaningful dialogue and empower our young people to participate actively in nation-building. By ensuring that their voices are heard in shaping the policies that impact their lives, we are creating a pathway for a brighter tomorrow.

“The 30-day Confab will unite young people nationwide to collaboratively develop solutions to issues such as education, employment, innovation, security, and social justice. The modalities of this Confab and selection of delegates will be designed in close consultation with our young people through their representatives.”