- Odibo Victory
President Bola Tinubu has pledged to reduce the cost of living, expand job opportunities and strengthen social protection as Nigeria enters a new phase of economic development.
Tinubu made the pledge on Thursday in a nationwide broadcast to mark Nigeria’s 66th Independence Anniversary, saying his administration was moving from economic stabilisation to shared prosperity.
He said the government would address the high cost of living by reducing production and transportation costs, while increasing agricultural productivity and promoting industrial growth.
“Our priority is to bring down the cost of living. We will achieve this by lowering the cost of producing and moving the things Nigerians consume.”
The President said the administration would expand mechanised irrigation and dry-season farming, while improving access to seeds, fertiliser, storage facilities and agricultural machinery.
He added that investments in roads, railways and ports would strengthen the movement of goods between farms, factories and markets.
Tinubu said the government would also promote industrialisation, digital connectivity, access to finance and skills development to create more productive jobs.
He pledged to harness Nigeria’s gas resources to power industries and support businesses working to revive factories in industrial centres.
“We are therefore placing jobs, enterprise, and industrial growth at the heart of our government’s policies.”
The President acknowledged that millions of Nigerians were still struggling with the rising costs of food, education, healthcare and transportation.
He linked the challenges to decades of low productivity, inadequate infrastructure, limited opportunities and institutional weaknesses.
Tinubu said the government would strengthen direct support for vulnerable households through an improved National Social Register.
He also cited the Nigerian Education Loan Fund, CREDICORP, as well as investments in primary healthcare and basic education as measures aimed at supporting low-income families.
According to him, the Federal Government would continue to work with state and local governments to improve essential public services.
Tinubu said salaries and pensions had been paid promptly since 2023, while reforms to the national pension programme were designed to benefit retirees and vulnerable Nigerians.
“These programmes are not substitutes for prosperity. They are a bridge to aid our nation’s citizens on their path towards it.”
The President said the administration’s ultimate goal was to eradicate poverty through sustained economic growth and the creation of millions of productive opportunities.
“Our objective is not to manage poverty more efficiently.
“We will defeat it.”
Tinubu said the government would continue implementing policies aimed at ensuring that economic growth translated into better living standards and greater opportunities for Nigerians.
He described the next phase of his administration as an age of prosperity, calling on Nigerians to remain united and committed to building a more prosperous country.
“The age of reform has done its work. Now begins the age of prosperity.”
