Key highlights of Tinubu’s Independence Day speech

01 Oct Key highlights of Tinubu’s Independence Day speech

Hope: On 1 October 1960, Nigeria gained its independence from Britain following years of struggle for sovereignty by leaders from various ethnic groups in the country.

This year marks Nigeria’s 63rd anniversary of independence. The years since independence have been turbulent and unstable but Mr Tinubu said there is hope for the country.

“This nation belongs to you, dear people. Love and cherish it as your very own,” he said.

Unity: Mr Tinubu affirmed that one of the most important assets of the country is its diversity and human capital.

He urged citizens to remain united as that’s the only path to success.

The president’s speech is at a time when Nigeria’s national integration is being threatened by separatists and insurgents.

But Mr Tinubu said Nigeria’s unity is non-negotiable. He said forging a diverse and populous nation such as Nigeria has been a task of significant blessing but also a serial challenge.

Democracy: It’s been 24 years of uninterrupted democracy in Nigeria. Even though some argue that democracy has not delivered dividends of development, Mr Tinubu said it remains the best form of government.

This year, Nigeria has also witnessed its seventh consecutive general election since 1999.

Fuel Subsidy: Mr Tinubu scrapped the decades-old petrol subsidy during his inauguration in May and ended foreign exchange restrictions, which has led to the soaring cost of living and angered labour unions.

In his Sunday speech, the president said this is part of bold reforms that were necessary to place the nation on the path of prosperity and growth. “I am attuned to the hardships that have come. I have a heart that feels and eyes that see.”

He noted that those who sought to perpetuate the fuel subsidy and broken foreign exchange policies were people who would build their family mansion in the middle of a swamp.

“I am different. I am not a man to erect our national home on a foundation of mud,” Mr Tinubu said.

Reforms: The president also noted that his administration has embarked on several public sector reforms to stabilise the economy and direct fiscal and monetary policy to fight inflation. He said the reforms aim to encourage production, ensure the security of lives and property, and lend more support to the poor and the vulnerable.

However, Mr Tinubu acknowledged that these reforms may be painful but are needed to acquire a great future for Africa’s most populous country.

Palliatives: Mr Tinubu said he is aware of the hardship citizens are facing and that his administration is putting measures in place to ameliorate the stress of families and households.

“There is no joy in seeing the people of this nation shoulder burdens that should have been shed years ago. I wish today’s difficulties did not exist. But we must endure if we are to reach the good side of our future.

“My government is doing all that it can to ease the load,” he said.

This, according to the president, includes a provisional wage increment, an Infrastructural Support Fund for States, and conditional cash transfers to 15 million more vulnerable people.

“We are introducing a provisional wage increment to enhance the federal minimum wage without causing undue inflation. For the next six months, the average low-grade worker shall receive an additional Twenty-Five Thousand naira per month.

Transportation: In addition, Mr Tinubu said he has taken steps to make the economy more robust by lowering transport costs. “In this regard, we have opened a new chapter in public transportation through the deployment of cheaper, safer Compressed Natural Gas (CNG) buses across the nation,” he said, noting, that these buses will operate at a fraction of current fuel prices, positively affecting transport fares.

CBN Reform: The Nigeria leader said he has ordered a thorough housecleaning of the Central Bank of Nigeria because the institution has become a “den of malfeasance.”

“My special investigator will soon present his findings on past lapses and how to prevent similar reoccurrences. Henceforth, monetary policy shall be for the benefit of all and not the exclusive province of the powerful and wealthy.”

Security: Protecting the lives of the people and their property remains the highest priority of his administration, Mr Tinubu said.

“Inter-service collaboration and intelligence sharing have been enhanced. Our Service Chiefs have been tasked with the vital responsibility of rebuilding the capacities of our security services.”

He also commended the security forces for keeping us safe and securing our territorial integrity.