He acknowledged the economic challenges that Nigerians are currently experiencing as a result of his government's reforms.
The President urged citizens to exercise patience, assuring them that their concerns are being acknowledged.
Tinubu made these remarks during the broadcast commemorating Nigeria's 64th Independence Day Anniversary.
Below are 15 key Takeaways from President Tinubu’s speech
1. Tinubu acknowledged the ongoing challenges faced by many Nigerians due to increasing living expenses and the quest for meaningful job opportunities. He emphasized that the concerns of the populace were being taken into account.
2. The President expressed his administration's dedication to discovering sustainable solutions aimed at easing the hardships experienced by citizens, while urging Nigerians to remain patient as the reforms in progress begin to yield positive outcomes, indicating that there is hope on the horizon.
3. Tinubu asserted that his administration was making significant progress in combating terrorism and banditry. He reiterated the goal of eradicating all threats posed by Boko Haram, banditry, ransom kidnappings, and various forms of violent extremism.
4. The President highlighted that the Federal Government had successfully removed Boko Haram and bandit leaders at an unprecedented rate within the past year. He noted, “As of the latest report, our brave troops have eliminated over 300 commanders of Boko Haram and bandit groups in the Northeast, Northwest, and other regions of the country.”
5. He mentioned that the government had begun addressing the recent natural disasters, particularly the flooding affecting certain areas. He announced the approval of a Disaster Relief Fund to mobilize resources from both the private and public sectors for quicker emergency responses, and stated that integrity tests for all dams in the country had been ordered to prevent future calamities.
6. Tinubu reported that the reforms initiated by his administration had attracted over $30 billion in foreign direct investments within the past year.
7. He affirmed his administration's commitment to fostering free enterprise, allowing unrestricted entry and exit in investments, while upholding the integrity and effectiveness of regulatory frameworks.
8. He praised the Central Bank of Nigeria for its more disciplined approach to managing monetary policy, which has contributed to stability and predictability in the nation’s foreign exchange market.
9. The President stated that his administration took over a foreign reserve exceeding $33 billion 16 months ago and has successfully maintained it at $37 billion. He also mentioned that his administration has repaid the inherited foreign exchange backlog of $7 billion.
10. He further noted that the government has eliminated the ways and means debt, which was over N30 trillion, and has decreased the debt service ratio from 97 percent to 68 percent.
11. Tinubu announced that the Federal Executive Council has approved the Economic Stabilisation Bills, which will be sent to the National Assembly.
12. He praised the state governors who have adopted the Federal Government’s agricultural production program and encouraged other states to collaborate with the Federal Government in investing in mechanized farming.
13. He indicated that the energy transition program is progressing well, highlighting that the Federal Government is promoting the Presidential Initiative on Compressed Natural Gas for mass transit in partnership with private sector stakeholders. He expressed the Federal Government's readiness to assist all 36 states and the Federal Capital Territory in acquiring CNG buses for more affordable public transportation.
14. He announced plans for a 30-day youth conference aimed at uniting young people across the nation to collaboratively address challenges related to education, employment, innovation, security, and social justice. He emphasized that the conference's structure and delegate selection will be developed in close collaboration with youth representatives.
15. He revealed that the Senate President and the Chief Justice of the Federation have been awarded the Grand Commander of the Order of the Niger (GCON). Additionally, the Deputy Senate President and the Speaker of the House of Representatives have received the Commander of the Order of the Federal Republic (CFR), while the Deputy Speaker of the House has been honored with the Commander of the Order of Niger (CON).