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Tinubu reveals measures to cushion economic hardship in latest national address

Written by on August 1, 2023

President Bola Tinubu last night announced several palliative programmes to cushion the effects of the removal of fuel subsidy by his administration in his address to the nation.

The initiatives come in the wake of mounting hardship resulting from Tinubu’s inauguration day declaration that fuel subsidy is gone. 

Prices of Premium Motor Spirit (PMS), or petrol, have since tripled from below N200 per litre in two months since he took office on May 29, prompting protest calls by the Nigeria Labour Congress (NLC).

In an apparent effort to alleviate the pain of millions of Nigerians, the President told Nigerians in a sombre national broadcast that respite had come for farmers, small business owners, and manufacturers, among others.

Tinubu announced a N75 billion palliative for the manufacturing sector, saying 75 businesses would benefit within a nine-month period spanning the third quarter of 2023 to the first quarter of next year.

Despite the President’s plea for patience, the Nigeria Labour Congress, NLC, has threatened to embark on a nationwide protest as from tomorrow.

NLC President Joe Ajaero, who addressed reporters after a meeting of the Presidential Steering Committee on Palliatives at the Presidential Villa in Abuja, says the plan for a peaceful protest had not changed.

The meeting adjourned till noon today to continue discussions on how to ameliorate the harsh effects of the removal of fuel subsidy.

The adjournment was meant to allow all parties have time to listen to President Bola Tinubu’s broadcast.

Now the Federal Government is insisting that the planned industrial action by the Nigeria Labour Congress is illegal.

Sam Ogala of Falana’s Chamber, in a letter dated July 28, 2023, had stated that the right to peaceful protest has not been removed from the constitution

The Federal Government, in a letter yesterday, by the Solicitor-General of the Federation and Permanent Secretary, Federal Ministry of Justice, Beatrice Jedy-Agba, and addressed to Falana Chambers, restated that there is a subsisting interim order restraining NLC from embarking on any industrial action.

Meanwhile, President Bola Tinubu will today, lead six Governors to attend the 63rd independence anniversary of the Republic of Benin.

Presidential Spokesman, Dele Alake, in a statement says the President, who is also the Chairman of the Authority of Heads of State and Government of the Economic Community of West African States, will be the Special Guest of President Patrice Talon at the ceremony.

President Tinubu had first met with Talon on the sidelines of the summit on New Global Financing Pact in Paris, France, later at the 63rd Ordinary session of the Authority of Heads of State and Government of ECOWAS held in Guinea-Bissau and more recently at the State House, Abuja along with leaders of three other West African nations, where the Benin Republic President invited him for the anniversary.

The President will be accompanied on the one-day visit by six governors, who were invited by President Talon, and his personal aides.

The six governors are; Dapo Abiodun of Ogun; Babajide Sanwo-Olu of Lagos; Seyi Makinde of  Oyo; AbdulRahman AbdulRasaq of Kwara; Nasir Idris of Kebbi, and Mohammed Bago of Niger.

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