President Bola Ahmed Tinubu’s speech delivered nationally on October 1, 2024, the Federal Republic of Nigeria’s 64th anniversary of independence.
Fellow Nigerians, as I address you today, I am deeply aware of the struggles many of you face in these challenging times. Our administration is aware of the difficulties many of you face in finding fulfilling work and keeping up with growing living expenses. Your voices are heard, I want to reassure you.
As your president, let me reassure you that we are dedicated to locating long-term fixes to lessen our people’ suffering. We are starting to see some progress with the reforms we are putting into place, so once more, I beg for your patience.
Our country’s founding fathers had a dream of a great nation that would lift the rest of Africa out of poverty, ignorance, and underdevelopment and serve as a beacon of hope to the rest of Africa and the world. They chose democracy as their form of government exactly 64 years ago.
We can reflect on how far we have come in achieving the aspirational goals of our founding fathers more than sixty years later, and Nigerians across the globe can too.
The world is witnessing and reaping the rewards of the Nigerian people’s can-do attitude, enormous intellectual capacity, and enterprise and industry in every field, from science to infrastructure to the arts. The aspirations envisioned by our country’s founders remain an ongoing project. We get our hands on the plough every day with the intention of doing it better.
We must never lose sight of how far we have come in creating and maintaining our nation, despite the temptation to concentrate on what has been left undone and our mistakes as a people.
Since gaining its independence, our country has weathered numerous crises and upheavals that caused the dissolution and disintegration of numerous other countries throughout the world. Our nation entered a political crisis six years after independence, which resulted in a bloody and preventable civil war. As we continue to strive toward creating a more ideal union, we have learned to embrace our diversity and better manage our differences since emerging from the edge of that darkest moment.
Despite the many challenges that buffeted our country, we remain a strong, united, and viable sovereign nation.
Dear compatriots, our independence anniversary gives us another chance to reflect on how far we have gone in our journey to nation-building and to renew our commitment to building a better nation that will serve present and future generations of Nigerians.
While we celebrate the progress we have made as a people in the last sixty-four years, we must also recognise some of our missed opportunities and mistakes of the past. If we are to become one of the greatest nations on earth, as God has destined us to be, our mistakes must not be allowed to follow us into the future.
Our nation was in dire need of leadership when I assumed office 16 months ago. Numerous challenges beset the economy, and our physical security was severely compromised. We were forced to make a difficult decision at this confusing juncture: reform for prosperity and advancement or continue with business as usual and face collapse. We made the decision to overhaul both our defense and political economies.
I am pleased to inform you, my fellow citizens, that our administration is winning the fight against terrorism and banditry in terms of security. Our goal is to eradicate the threats posed by banditry, kidnapping for ransom, Boko Haram, and violent extremism in all its forms. Our government has destroyed Boko Haram and bandit leaders in less time than ever in just a single year. 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.
Thousands of our people are now able to go back home, and we have brought peace back to hundreds of North American villages. Our security services are determined to put a stop to it as soon as possible because it is an outstanding matter. Our farmers can get back to their fields as soon as we are able to bring peace back to many of the communities in the Northern areas that are experiencing conflict. Food production is predicted to soar while food prices are predicted to fall. We will not give up on this, I can assure you.
The recent natural disasters, especially the flooding that has occurred in some areas of the nation, have prompted action from our government. I went to Maiduguri to reassure the people that this federal government will always support them in difficult times, following Vice President Kashim Shettima’s visit. We established a Disaster Relief Fund at the most recent Federal Executive Council meeting in order to raise money from both the public and private sectors and enable us to respond to crises more quickly.
Our government has also ordered integrity tests of all our dams in the country to avert future disasters.
The economy is undergoing the necessary reforms and retooling to serve us better and more sustainably. If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences.
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. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector.
The move will create vibrancy and increase oil and gas production, positively impacting our economy.
The Central Bank’s adoption of a more methodical approach to managing monetary policy has guaranteed stability and predictability in our foreign exchange market. A reserve of more than $33 billion was left to us sixteen months ago. We have since reimbursed the $7 billion inherited forex backlog. 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.
We are moving ahead with our fiscal policy reforms. To stimulate our productive capacity and create more jobs and prosperity, the Federal Executive Council approved the Economic Stabilisation Bills, which will now be transmitted to the National Assembly. These transformative bills will make our business environment more friendly, stimulate investment and reduce the tax burden on businesses and workers once they are passed into law.
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.
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.
I commend the Governors particularly, in Kebbi, Niger, Jigawa, Kwara, Nasarawa, and the Southwest Governors that have embraced our agricultural production programme. I urge other states to join the Federal Government in investing in mechanised farming. We are playing our part by supplying fertilizer and making tractors and other farm equipment available. Last week, the Federal Executive Council approved establishing a local assembly plant for 2000 John Deere tractors, combine harvesters, disc riders, bottom ploughs and other farm equipment. The plant has a completion time of six months.
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.
Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace.
As we work to overcome the challenges of the day, we remain mindful of the next generation as we seek to galvanize their creative energy towards a better future. We lead today with the future we wish to bequeath to our children in focus, recognizing that we cannot design a future that belongs to them without making them its architects.
Considering this, 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. Through this confab, it will be our job as leaders to ensure that their aspirations are at the heart of the conference’s deliberations. The government will thoroughly consider and implement the recommendations and outcomes from this forum as we remain resolute in our mission to build a more inclusive, prosperous, and united Nigeria.
Our government is implementing several other youth-centric programmes to give our young people an advantage in the rapidly changing world. We are implementing, amongst others, the 3 million Technical Talents programme (3MTT) of the Ministry of Communications, Innovation and Digital Economy, aimed at building Nigeria’s technical talent backbone.
We have also enthusiastically implemented the Nigerian Education Loan Fund (NELFUND), which provides cheap loans to our students to pursue their tertiary educational dreams. In addition, later this month, we shall launch The Renewed Hope Labour Employment and Empowerment Programme (LEEP). It is conceived as a comprehensive suite of interventions at job creation by the Federal Ministry of Labour and Employment that is aimed at facilitating the creation of 2.5 million jobs, directly and indirectly, on an annual incremental basis whilst simultaneously ensuring the welfare and safety of workers across the country.
As is the tradition, the government will soon announce all the beneficiaries of our national honours for 2024.
The Senate President and the Chief Justice of the Federation have been conferred with the honour of the Grand Commander of the Order of the Niger (GCON). The deputy Senate President and Speaker of the House of Representatives have the honour of Commander of the Order of the Federal Republic (CFR), while the deputy speaker of the House has been awarded Commander of the Order of Niger (CON) .
Fellow Nigerians, better days are ahead of us. The challenges of the moment must always make us believe in ourselves. We are Nigerians—resilient and tenacious. We always prevail and rise above our circumstances.
I urge you to believe in our nation’s promise. The road ahead may be challenging, but we will forge a path toward a brighter future with your support. Together, we will cultivate a Nigeria that reflects the aspirations of all its citizens, a nation that resonates with pride, dignity, and shared success.
As agents of change, we can shape our destiny and build a brighter future by ourselves, for ourselves and for future generations.
Please join our administration in this journey towards a brighter future. Let us work together to build a greater Nigeria where every citizen can access opportunities and every child can grow up with hope and promise.
May God continue to bless our nation and keep members of our armed forces safe.
Happy Independence anniversary, my fellow Nigerians!