Category: News

Fellow Nigerians, as I address you today, I am deeply aware of the struggles many of you face in these challenging times. Our administration knows that many of you struggle with rising living costs and the search for meaningful employment. I want to assure you that your voices are heard. As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel. Exactly 64 years ago, our founding fathers chose democracy as a form of government and launched the dream of a great country that would lead the rest of Africa out of poverty, ignorance, and underdevelopment, a beacon of hope to the rest of Africa and the world. Over six decades later, we can look back, and Nigerians worldwide can see how well we have succeeded in realising the lofty dreams of our founding fathers. The world is witnessing and benefiting from the can-do spirit of the Nigerian people, our massive intellectual capacity, and our enterprise and industry in all vocations, from arts to science, technology to infrastructure. The dreams that our founding fathers envisaged are still a work in progress. Every day, we put our hands on the plough, determined to do a better job of it. While it is tempting to focus on what has been left undone and where we have stumbled as a nation, we must never lose sight of how far we have come in forging and holding our country together. Since independence, our nation has survived many crises and upheavals that led to the dissolution and disintegration of many other nations worldwide. Six years after independence, our country descended into a political crisis that led to a bitter and avoidable civil war. Since returning from the brink of that darkest moment, we have learned to embrace our diversity and manage our differences better as we continue to work towards engendering a more perfect union. 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. My administration took over the leadership of our country 16 months ago at a critical juncture. The economy faced many headwinds, and our physical security was highly impaired. We found ourselves at a dizzying crossroads, where we must choose between two paths: reform for progress and prosperity or carry on business-as-usual and collapse. We decided to reform our political economy and defence architecture. On the security front, I am happy to announce to you, my compatriots, that our administration is winning the war on terror and banditry. Our target is to eliminate all the threats of Boko Haram, banditry, kidnapping for ransom, and the scourge of all forms of violent extremism. Within one year, our government has eliminated Boko Haram and bandit commanders faster than ever. 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. We have restored peace to hundreds of communities in the North, and thousands of our people have been able to return home. It is an unfinished business, which our security agencies are committed to ending as quickly as possible. As soon as we can restore peace to many communities in the troubled parts of the North, our farmers can return to their farms. We expect to see a leap in food production and a downward spiral in food costs. I promise you, we shall not falter on this. Our government has been responding to the recent natural disasters, particularly the flooding in parts of the country. After Vice President Kashim Shettima visited Maiduguri, I also visited to assure our people that this federal government will always stand with our people in their times of trouble. At the last meeting of the Federal Executive Council, we approved a Disaster Relief Fund to mobilise private and public sector funds to help us respond faster to emergencies. 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 more disciplined approach adopted by the Central Bank to monetary policy management has ensured stability and predictability in our foreign exchange market. We…