THE President of the Federal Republic of Nigeria, President Bola Tinubu, on Monday, January 1, 2024, delivered his first New Year speech to Nigerians with a promise to “fight every obstacle that impedes business competitiveness in the country.”
The President also highlighted the steps his administration will take to improve the economy and address other national challenges.
The President’s speech read in part: “Dear compatriots, it gives me immense joy to welcome each and every one of you – young and old- to this brand New Year 2024. We must lift up our hands to Almighty God, in gratitude, for His grace and benevolence to our country and our lives in the Year 2023 that has just gone by.
“Though the past year was a very challenging one, it was eventful in so many ways. For our country, it was a transition year that saw a peaceful, orderly, and successful transfer of power from one administration to another, marking yet another remarkable step in our 24 years of unbroken democracy.
“It was a year you the gracious people of this blessed nation, entrusted your faith in me with a clear mandate to make our country better, revamp our economy, restore security within our borders, revitalise our floundering industrial sector, boost agricultural production, increase national productivity and set our country on an irreversible path towards national greatness that we and future generations will forever be proud of.
“Everything I have done in the office, every decision I have taken and every trip I have undertaken outside the shores of our land since I assumed office on 29 May 2023 has been done in the best interest of our country.
“Over the past seven months of our administration, I have taken some difficult and yet necessary decisions to save our country from fiscal catastrophe. One of those decisions was the removal of fuel subsidy, which had become an unsustainable financial burden on our country for more than four decades. Another was the removal of the chokehold of a few people on our foreign exchange system that benefited only the rich and the most powerful among us. Without a doubt, these two decisions brought some discomfort to individuals, families and businesses.
“I am well aware that for some time now, the conversations and debates have centred on the rising cost of living, high inflation, which is now above 28% and the unacceptable high under-employment rate.
“I am not oblivious to the expressed and sometimes unexpressed frustrations of my fellow citizens. I know for a fact that some of our compatriots are even asking if this is how our administration wants to renew their hope.
“Dear Compatriots, take this from me: the time may be rough and tough, however, our spirit must remain unbowed because tough times never last. We are made for this period, never to flinch, never to falter. The socio-economic challenges of today should energise and rekindle our love and faith in the promise of Nigeria.
“Our current circumstances should make us resolve to work better for the good of our beloved nation. Our situation should make us resolve that this New Year 2024, each and every one of us will commit to being better citizens.
“Silently, we have worked to free captives from abductors. While we can’t beat our chest yet that we have solved all the security problems, we are working hard to ensure that we all have peace of mind in our homes, places of work, and on the roads. Other power installation projects to strengthen the reliability of our transmission lines and optimise the integrity of our National grid are ongoing across the country.
“My administration recognises that no meaningful economic transformation can happen without a steady electricity supply. In 2024, we are moving a step further.
“To ensure constant food supply, security and affordability, we will step up our plan to cultivate 500,000 hectares of farmlands across the country to grow maize, rice, wheat, millet and other staple crops. We launched dry season farming with 120,000 hectares of land in Jigawa State last November under our National Wheat Development Programme.
“I will fight every obstacle that impedes business competitiveness in Nigeria, and I will not hesitate to remove any clog hindering our path to making Nigeria a destination of choice for local and foreign investments.
“In my 2024 Budget presentation to the National Assembly, I listed my administration’s eight priority areas, including national defence and internal security, job creation, macro-economic stability, investment environment optimization, human capital development, poverty reduction and social security. Because we take our development agenda very seriously, our 2024 budget reflects the premium we placed on achieving our governance objectives.
“We will work diligently to make sure every Nigerian feels the impact of their government. The economic aspirations and the material well-being of the poor, the most vulnerable, and the working people shall not be neglected. It is in this spirit that we are going to implement a new national living wage for our industrious workers this New Year. It is not only good economics to do this, but it is also a morally and politically correct thing to do.
“For the new year to yield all its good benefits to us as individuals and collectively as a people, we must be prepared to play our part. The job of building a prosperous nation is not the job of the President, Governors, Ministers, Lawmakers and government officials alone. Our destinies are connected as members of this household of Nigeria. Our language, creed, ethnicity and religious beliefs, even when they are not the same, should never make us work at cross purposes.
“I wish all of us a happy and prosperous Year 2024.”
