Key takeaways from President Tinubu’s Independence Day Speech

President Bola Tinubu on Sunday delivered his first Independence Day speech to Nigerians since his inauguration.

President Tinubu in the broadcast reinstated his pledge to “reshape and modernize our economy and to secure the lives, liberty and property of the people”.

The President also highlighted the various policies his government has put in place so far including the removal of fuel subsidy, which he said was important for the country’s growth.

Here are the key takeaways from the speech.

1. Painful reforms undertaken by the government, (subsidy removal and foreign exchange unification) must be endured by all as it is temporary.

2. Government is doing all it can to ease the load by;

3. The introduction of N25,000 provisional wage increment to “average low-grade” workers for the next six months.

4. Provision of fund states to provide relief packages against the impact of rising food and other prices.

5. To ease transport costs, new Compressed Natural Gas conversion kits are expected to arrive soon while the government is also setting up training facilities across the country for transport operators.

6. While the special investigator instituted to probe the Central Bank of Nigeria under the past leadership will be presenting its report soon, the bank’s new leadership will provide monetary policy to benefit all.

7. The tax reform embarked upon will improve the efficiency of tax administration and address impediments to the country’s economic growth.

8. In addressing unemployment and poverty, the government is increasing its investment in MSMEs. This is in addition to the 15 million vulnerable households that will be added to the extended social safety net.

9. Priority will be given to the safety of citizens.

10. The military will be equipped to function optimally while the service chiefs have also been tasked to rebuild the capacity of the country’s security services.