Tinubu Outlines Key Initiatives for Economic Revitalization and Workers’ Welfare In New Year Speech

In his New Year’s message, President Bola Ahmed Tinubu has unveiled plans to implement a new national living wage and expedite crucial power projects, signaling a commitment to economic recovery and social welfare.

Addressing the challenges faced by Nigerians, Tinubu acknowledged the removal of the fuel subsidy and foreign exchange reforms, emphasizing their necessity for fiscal stability. Despite concerns over rising living costs and inflation, he assured citizens that their frustrations are acknowledged.

The President outlined initiatives for economic growth, including the swift execution of Siemens Energy projects to enhance electricity supply. He emphasized ongoing efforts to strengthen the country’s transmission lines and optimize the national grid. Plans for local refining, involving the Port Harcourt Refinery and Dangote Refinery, were also highlighted.

To ensure food security, Tinubu detailed the cultivation of 500,000 hectares of farmland, focusing on staple crops like maize, rice, wheat, and millet. The President reaffirmed his administration’s dedication to creating an enabling business environment for local and foreign investments.

In the 2024 budget, key priorities include national defence, job creation, economic stability, and social security. Tinubu assured Nigerians that every effort would be made to make the impact of governance felt across all sectors. He pledged a new national living wage for workers, aligning with the administration’s commitment to workers’ welfare.

Closing his message, Tinubu called for unity, urging all Nigerians, including political opponents, to collaborate for the nation’s prosperity. The President extended wishes for a happy and prosperous 2024, invoking God’s continued blessings on the Federal Republic of Nigeria.

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