President Bola Tinubu has reaffirmed his administration’s commitment to alleviating the rising cost of living in Nigeria. In his Independence Day address on Tuesday, he acknowledged the economic challenges faced by Nigerians, particularly the high cost of food and other essential goods.
“The central concern of our people today is the high cost of living, especially food costs. This issue is not unique to Nigeria but is a global challenge as prices continue to rise worldwide. Rest assured that we are implementing various measures to reduce the cost of living here at home.”
The President also praised several state governors for their active participation in his administration’s agricultural initiatives, particularly stressing the contributions of the governors of Kebbi, Niger, Jigawa, Kwara, Nasarawa, and other states of the Southwest, who have embraced the agricultural production program.
“I urge other states to collaborate with the Federal Government in advancing mechanized farming. We are doing our part by providing fertilizers and facilitating access to tractors and other farming equipment,” Tinubu added.
He noted that, just last week, the Federal Executive Council approved the establishment of a local assembly plant for 2,000 John Deere tractors, combine harvesters, disc ridgers, bottom ploughs, and other farming machinery. The project is expected to be completed in six months.
Tinubu also provided updates on his administration’s energy transition program. “We are on track with our energy transition agenda, and we are scaling up the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit in partnership with private sector stakeholders,” he said.
The President emphasized that the Federal Government is prepared to assist the 36 states and the Federal Capital Territory in acquiring CNG-powered buses to lower public transportation costs.
In conclusion, Tinubu assured Nigerians that while his government is focused on stabilizing the economy and enhancing national security, it remains dedicated to fostering unity and promoting social harmony across the country.
