President Bola Tinubu has said that his government, since May 29, 2023, has taken decisions that have brought hardship to Nigerians and affected businesses badly.
The president made the confession in his New Year’s Day nationwide broadcast.
He said some of the policies are the removal of subsidy on petrol and the unification of the foreign exchange rate.
“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 choke-hold of few people on our foreign exchange system that benefited only the rich and the most powerful among us. Without doubt, these two decisions brought some discomfort to individuals, families and businesses.
From the boardrooms at Broad Street in Lagos to the main-streets of Kano and Nembe Creeks in Bayelsa, I hear the groans of Nigerians who work hard every day to provide for themselves and their families,” he said.
However, he said the government was laying the groundwork of “our economic recovery plans,” and “we are now poised to accelerate the pace of our service delivery across sectors.”
He enjoined Nigerians to see the glass as half full.
“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 energize 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 be better citizens,” he added.
The president promised that the government would work diligently to make sure every Nigerian feels its impact.
“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; it is also a morally and politically correct thing to do,” he stressed.
On insecurity, Tinubu said: “Silently, we have worked to free captives from abductors. While we can’t beat our chest yet that we had 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.”
