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Nigeria at 61: Full text of Buhari’s Independence Day speech

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President Muhammadu Buhari on Friday reiterated his call for peace and unity in Nigeria. In his Independence Day speech, the President said all hands must be on deck for a prosperous nation. Buhari also reeled out his efforts and provided statistics of achievements in different sectors.

The full speech:

1. Citizens of Nigeria, it is with full gratitude to God that today, we celebrate Nigeria’s sixty first Independence Anniversary.
2. For 1st of October 1960 to happen, all hands were on deck. East, West, North all came together to celebrate freedom. Today should not only serve as a reminder of the day the British handed over the reins of power to Nigerians, but also unified Nigerians from all ethnic groups, religions and regions.
3. Today, despite the challenges we face, most Nigerians still maintain the spirit of 1st October. That positive outlook and determination to make Nigeria a peaceful and prosperous nation. It is due to this collective attitude that Nigeria doggedly continues to remain a united and indivisible nation.
4. Fellow Nigerians, the past eighteen months have been some of the most difficult periods in the history of Nigeria. Since the civil war, I doubt whether we have seen a period of more heightened challenges than what we have witnessed in this period.
5. Our original priorities for 2020 were to continue stabilising our economy following the deep recession while restoring peace in areas confronted with security challenges. But the COVID-19 pandemic and its devastating impact on all nations meant we needed to shift gears and re-strategise.
6. Nigerians came together as one to fight against COVID-19. It is this attitude and by the special grace of God, we continue to survive the pandemic as a nation and indeed, provide leadership and example at regional and international levels.
7. The doomsday scenario predicted for our country never came. Even as the Delta variant continues to spread, we have built the capacity we need to respond now and into the future.
8. I will therefore appeal to Nigerians not to take COVID lightly, adhere to public health and social measures, put your mask on and get vaccinated. We can control this pandemic, but it requires effort on everybody’s part. The investments we made in response to COVID-19 will also serve our country to tackle any future disease outbreaks or pandemics.
9. Despite the global inequity in access to vaccines, the Government of Nigeria has continued to explore all available options to ensure Nigerians have free access to safe and effective vaccines.
10. Some five million vaccine doses have been administered to Nigerians through efforts led by the National Primary Health Care Development Agency and we will continue to explore options for purchase or acquisition of vaccines such as through COVAX and the African Vaccine Acquisition Trust.
11. I will take this opportunity to remind the global community that the current state of access to COVID-19 vaccines is unacceptable. We cannot afford a situation where a handful of countries keep the global vaccine supply to themselves at the expense of other nations.
12. We must act now to accelerate equitable distribution of COVID-19 vaccines. This is the message I conveyed to the international community in New York last week.
13. As we push to source vaccines for our immediate needs, we shall invest more to support our pharmaceutical and research agencies to come up with ideas for locally developed vaccines. Should another pandemic arise in the future, Our question is simple; will Nigeria be ready?
14. Accordingly, I have directed the Ministries of Finance, Budget and National Planning, Health, Education and Science and Technology to work with Nigerian and International pharmaceutical companies and research organisations to enhance Nigeria’s domestic pharmaceutical capacity.
15. Already, the Nigerian Sovereign Investment Authority is raising a $200 million fund for this initiative that will complement the Central Bank of Nigeria’s ongoing N85 billion Healthcare Sector Research and Development Intervention Scheme to support local researchers in the development of vaccines and drugs to combat communicable and non-communicable diseases, including COVID-19.
Fellow Nigerians, this is just the beginning.
16. Similarly, on our approach to food security, I am proud to announce Nigeria has commenced its journey to pharmaceutical independence.
17. This journey, which will take years to achieve but will ultimately result in Nigerian based companies developing the Active Pharmaceutical substances and competence needed for us to make our own drugs and vaccines.
Fellow Nigerians,
18. As our economy continues to open after the COVID-19 related lockdowns, we have also seen the resurgence of insecurity in certain parts of the country.
19. In the last four months, the gallant men and women of the Military and Security Agencies have made tremendous progress in addressing these new security challenges. We are taking the fight to our enemies from all angles and we are winning.
20. Earlier this year, I launched the Integrated National Security and Waterways Protection Infrastructure, the Deep Blue Project, which is designed to secure Nigerian waters up to the Gulf of Guinea. I am happy to inform Nigerians that we have taken delivery of key assets for this project and very soon, its impact will be felt.
21. In the North East region alone, over eight thousand Boko Haram terrorists have surrendered.
22. To support our surge approach to fighting banditry, the Nigerian Armed Forces have recruited over 17,000 personnel across all ranks. Furthermore, I have also approved for the Nigerian Police Force to recruit 10,000 police officers annually over the next six years.
23. I am also pleased to note that most of the Air Force platforms we acquired over the past three years have started to arrive in Nigeria. These will positively impact our security operations in all parts of the country.
24. In line with section 14(2)(b) of the 1999 Constitution (as amended), the security and welfare of Nigerians continue to be the prime focus on which programmes and projects of our government revolves.
25. Therefore, as a Government, we are ready to arrest and prosecute all persons inciting violence through words or action. Our resolve for a peaceful, united and one Nigeria remains resolute and unwavering.
26. That said, our hope is not to fight for peace. We can always settle our grievances peacefully without spilling any blood.
27. I will therefore take this opportunity, on this special day that symbolises the unity and oneness of our great nation, to ask all Nigerians to embrace peace and dialogue, whatever your grievances.
28. The seeds of violence are planted in people’s heads through words. Reckless utterances of a few have led to losses of many innocent lives and destruction of properties.
29. Such unfiltered and unsubstantiated lies and hate speeches by a few evil persons must be stopped. Our media houses and commentators must move away from just reporting irresponsible remarks to investigating the truth behind all statements and presenting the facts to readers.
30. We must all come out and speak against the lies being peddled. At this point, I would want to sincerely appreciate the large number of our Traditional, Religious and Community leaders as well as other well-meaning Nigerians who, in their various fora are openly spreading the message of peaceful co-existence and conflict settlement through dialogue in their respective communities.
31. Nigeria is for all of us. Its unity is not negotiable. And its ultimate success can only be achieved if we all come together with a common goal of having peace and prosperity for our nation.
32. We shall continue to work on dialogue based solutions to address legitimate grievances. But we remain ready to take decisive actions against secessionist agitators and their sponsors who threaten our national security.
33. The recent arrests of Nnamdi Kanu and Sunday Adeyemo, and the ongoing investigations being conducted have revealed certain high-profile financiers behind these individuals. We are vigorously pursuing these financiers including one identified as a serving member of the national assembly.
Fellow Nigerians,
34. This is a clear example of how people abandon their national leadership positions for their selfish gains. Instead of preaching unity, they are funding and misleading our youth to conduct criminal acts that sometimes lead to unfortunate and unnecessary loss of lives and property.
35. As the so-called leaders run abroad to hide, our innocent youths are misled and left in the streets to fight for their senseless and destructive causes.
36. Government will continue, with greater level of peoples’ participation and in collaboration with our international partners, to improve the security architecture, reduce enabling environment for criminality to thrive and eliminate opportunities for terrorism financing.
37. Fellow Nigerians, our unrelenting effort at resolving an almost two-decade stalling on the management of our Petroleum resources and ensuring equitable consideration to our host communities has resulted in the enactment of the Petroleum Industry Act, 2021.
38. This Act not only overhauls the Institutional, regulatory and fiscal framework of the Petroleum Industry but also reduces the previous opacity associated with this sector.
39. This is the first step to the reforms as the process is a continuous one. Already, to further improve the governance framework, I have sought for an amendment of sections 11(2)(b) and 34(2)(b). We will also continue to review and amend as appropriate.
40. At this juncture, it is very appropriate that I salute the leadership and members of the Ninth Assembly for their patriotism, dedication to duty, candour and most importantly the dispatch with which they have enacted legacy legislations for this nation. I do not take such level of cooperation for granted and hope it continues for the overall efficiency of the Federal machinery.
41. Nigeria’s Roadmap on Local Refining is on track with the Commissioning of a Modular refinery in Imo State.
42. A second is scheduled for commissioning by the end of this year in Edo State and the third one in Bayelsa State by 2022.
43. In addition to the modular projects, we also have the two mega refinery projects coming up in Lagos and Akwa Ibom States.
44. As these refineries are commissioned, more employment opportunities are created and there would be increased petroleum products available for local consumption which will significantly reduce our reliance on importation.
45. In further demonstrating our plan to reduce our dependence on oil and tapping from our enormous gas resources, this administration remains committed to the “Decade of Gas” Initiative, which is aimed at bringing to focus the utilization of our huge gas resources.
46. Already, we are supporting and promoting various gas-based projects including NLNG Train 7 and the mega urea and ammonia projects in the South-South region.
47. As we continue to optimise and enhance our oil and gas sector, I am also proud and delighted to state that our economic diversification strategy remains on course with the persistent increase in Non-Oil Sector contribution to GDP.
48. We recovered from economic recession in quarter four of 2020 with a GDP growth rate of 0.11%, and grew by 0.51% and 5.01% in real terms in the first and second quarters of 2021.
49. The Agricultural sector remains key to our economic diversification efforts as the sector has been a consistent driver of the non-oil sector contributing 22.35% and 23.78% to the overall GDP in the first and second quarter of 2021.
50. We have seen significant private sector investments in almost all areas of the agricultural value chain. And these have continued even during the COVID-19 pandemic.
51. Unfortunately, as our food production capacity has increased, food prices have been going up due to artificial shortages created by middlemen who have been buying and hoarding these essential commodities for profiteering.
52. To address this, I am hereby directing the Ministry of Agriculture and Rural Development to rehabilitate the National Food Reserve Agency and also work with security agencies, the Nigerian Commodity Exchange, and the National Assembly to find a lasting solution to these disruptive and unpatriotic hoarding activities.
53. To further enhance food production, we have completed several new dams and are in the process of rehabilitating several River Basin Development Authorities to enhance ground water supply for rainfed agriculture as well as surface water for irrigation agriculture.
54. The water projects we completed between 2015 to 2020 have improved Nigerian’s access to potable water to 71% between 2015 and 2020. This means 12.5 million additional Nigerians now have direct access to potable water.
Fellow Nigerians,
55. This Government remains concerned by the significant transportation infrastructure deficit we have. Addressing the challenges our commuters and lorry drivers face on the motorways is still a high priority to us.
56. To complement our budgetary allocations, the Presidential Infrastructure Development Fund and the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, we recently established a N15trillion Infrastructural Corporation of Nigeria Limited (INFRACO), which is expected to begin operation by the fourth quarter of this year.
57. INFRACO will also focus on leveraging resources on a public-private sector basis for infrastructural development in Nigeria.
58. We hope through these innovative programs, the additional cost burden on individuals and businesses because of inefficient logistics operations will be reduced and ultimately, eliminated.
59. We currently have over 13,000 kilometres of roads and bridges under construction all over the country of which a fair percentage have been completed.
60. As we fix our roads, we also continue to extend and upgrade Nigeria’s railway network with the notable opening of the Warri- Itakpe standard gauge rail line.
61. To increase capacity, we have introduced more locomotives, coaches and wagons including the establishment of a Wagon Assembly in Kajola, Ogun State.
62. The sea ports however still remain problematic. The effect of our various interventions to reduce the gridlocks and inefficiencies have been slower than expected.
63. However, the implementation of the Electronic Call-Up System as well as the conversion of the Lillypond Container Terminal to a Vehicle Transit Area will further enhance the ease of cargo evacuation.
64. Our prioritisation of developing Nigeria’s Digital Economy has positively impacted the contribution of the ICT sector to our GDP.
65. We hope our present efforts to ensure all Nigerians use a National Identification Number as well as our planned roll-out of the fifth generation (5G) network technology will ensure we stay in line with the global innovation curve as a Nation.
66. As we embrace the digital economy in Nigeria, we are fully aware of the prospects and the perils. Our policies have been developed to enable Nigerians to take advantage of the prospects and avoid the perils of digital technologies.
67. Social media is a very useful platform that has enabled millions of Nigerians to connect with loved ones, promote their businesses, socialise, and access news and other information.
68. However, recent events have shown that the platform is not just an innocuous platform for information dissemination.
69. Rather some users have misused the platform to organise, coordinate, and execute criminal activities, propagate fake news, and promote ethnic and religious sentiments.
70. To address these negative trends, the Federal Government of Nigeria suspended the operations of Twitter in Nigeria on June 5, 2021 to allow the Government put measures in place to address these challenges.
71. Following the suspension of Twitter operations, Twitter Inc. reached out to the Federal Government of Nigeria to resolve the impasse. Subsequently, I constituted a Presidential Committee to engage Twitter to explore the possibility of resolving the issue.
72. The Committee, along with its Technical Team, has engaged with Twitter and have addressed a number of key issues. These are:
a. National Security and Cohesion;
b. Registration, Physical presence and Representation;
c. Fair Taxation;
d. Dispute Resolution; and
e. Local Content.
73. Following the extensive engagements, the issues are being addressed and I have directed that the suspension be lifted but only if the conditions are met to allow our citizens continue the use of the platform for business and positive engagements.
74. As a country, we are committed to ensuring that digital companies use their platform to enhance the lives of our citizens, respect Nigeria’s sovereignty, cultural values and promote online safety.
75. Nigeria’s progressive diplomacy continues to manifest through growing numbers of highly placed Nigerians in positions of regional and global influences. Very recently, Nigeria won election for the position of Commissioner for the expanded Political, Peace and Security Affairs of the African Union.
76. Our persistent calls for a reorganized and reformed ECOWAS, to make the organization citizens-sensitive, paid off with the acceptance by the Authority of Heads of State and Governments of ECOWAS to commence the agreed reforms in the organization ahead of the next elections of the organization’s principal officers in December this year.
77. At the African Development Bank, World Trade Organization and indeed, the United Nations, footprints of Nigeria’s Diplomacy are clearly evident.
78. We remain confident that our goal of lifting 100million Nigerians out of poverty in 10 years is achievable.
79. Considering the positive impact of our Social Investment Programs, I recently approved an increase in the number of N-Power program beneficiaries from 500,000 to 1,000,000.
80. Out of this, 510,000 have started the programme while the competitive selection process for onboarding the outstanding 490,000 beneficiaries is in progress.
81. The National Home-Grown School Feeding Programme is currently being implemented in 35 States of the Federation and the FCT. Over 103,000 women have been engaged and empowered as cooks under the programme, while about 10 million pupils are being fed across public primary schools in the country.
82. To grant increased access to credit to the most poor and vulnerable, I have directed an increase in the disbursement of Government Enterprise and Empowerment Programme loans to an additional one million beneficiaries laying more emphasis on the smallholding farmers through the farmers Moni program.
Fellow Nigerians,
83. For far too long we have neglected the centrality of the civil service as the engine of governance and this has manifested in ineffective service delivery.
84. There is widespread discontent and disillusion about the efficiency and probity of our civil service.
85. It is for this reason that we are refocusing the Nigerian Civil Service to provide World class service to run our country.
86. The youths of this great country remain propellants for our today and provide guarantees that we would have a secure tomorrow.
87. It is for this reason that I remain focused on expanding opportunities for their participation in politics and governance.
88. Recent appointments of young people into positions of authority and their track record so far, gives me confidence that we need to bring more of them into governance and this I promise to do.
89. More specifically, to encourage Girl-Child Education, female scholarship schemes, life skills and digital literacy skills to boost girl’s enrolment, retention and completion of schooling, are all initiatives put in place to ensure gender balance in appropriately positioning our youths for positions of leadership.
90. The commitment of this Administration to the well-being of people living with disabilities remains unwavering.
91. Government recognises their contributions to development and I have, in this regard, directed that all relevant Government Agencies pay special attention to the peculiarities of different abilities in the implementation of policies and programmes.
92. Rape and Gender Based Violence remains a sore point in our Nation as in many countries worldwide and this was worsened during and after the outbreak of the COVID-19 pandemic.
93. We are currently engaging Heads of Courts to establish Specialised Courts for the speedy and seamless trial of Rape/Gender-Based offences especially to ensure that justice is done for child victims of sexual violence.
94. On the other hand, work has advanced in the reformation, reintegration and reunification of Minors involved in one crime or the other.
95. The reformation in our Correctional Services has manifested in an increase in modernised custodial centres and a transformation from strictly punitive to attitudinal changes so that criminals do not relapse into their previous lifestyle.
96. As we begin to celebrate our sixty one years as a Nation, we need to be conscious that Nigeria does not start and end with the Federal Government. This country is a great collective where Government at all arms and levels as well as the private sector, and more importantly individuals, have a role to play.
97. In particular, security is a bottom to top undertaking. Joining hands and hearts together would enable us to secure ourselves and our country.
98. I fully understand the anxiety of many Nigerians on the inability of this country to go beyond a never-ending potential for becoming a great nation to an actually great one.
99. A lot has been achieved in the last six years on many fronts: in infrastructure, social care, governance, Nigeria’s image and influence in Africa and the international community.
100. But critics misdiagnose incremental progress as stagnation. Since coming to power, this Administration has tackled our problems head-on in spite of the meagre resources. No government since 1999 has done what we have done in six years to put Nigeria back on track.
101. We shall continue to serve the country: listen to all and protect our democracy and country.
Thank you all and God bless the Federal Republic of Nigeria.

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Adebayo Ogunlesi, 2 other Nigerians make Forbes 50 wealthiest Black Americans list 2024

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Adebayo Ogunlesi

Adebayo Ogunlesi, 2 other Nigerians make Forbes 50 wealthiest Black Americans list 2024

Forbes has unveiled its 2024 ForbesBLK 50 list, celebrating the achievements of the wealthiest and most influential Black Americans.

Among the honorees are three Nigerians—Adebayo Ogunlesi, Tope Awotona, and Wemimo Abbey—whose groundbreaking contributions and entrepreneurial successes have earned them places on this prestigious list.

The ForbesBLK 50 is a reimagining of Forbes’ 2009 Wealthiest Black Americans list, which then featured figures like Oprah Winfrey, Michael Jordan, and Magic Johnson.

While net worth remains a core metric, the new list also highlights innovation, societal impact, and leadership across diverse industries.

Adebayo Ogunlesi, with a net worth of $1.7 billion, stands out as a pioneering force in global infrastructure investment. As chairman and cofounder of Global Infrastructure Partners (GIP), Ogunlesi led the private equity firm through a transformative acquisition by BlackRock in 2024 for $12.5 billion.

  • Ogunlesi, a Harvard-educated lawyer and banker, previously spent over two decades at Credit Suisse before launching GIP in 2006.
  • His influence extends beyond business, as he has become a key figure in reshaping infrastructure investment on a global scale.

Also, Nigerian entrepreneur,Tope Awotona, the founder and CEO of Calendly, has redefined efficiency in scheduling and holds a net worth of $1.4 billion.

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  • Born in Lagos, Awotona moved to Atlanta as a teenager and pursued business and management information studies at the University of Georgia. After early entrepreneurial setbacks, he launched Calendly in 2013, driven by frustration with cumbersome meeting coordination. The platform, which raised $350 million in 2021, is now valued at $3 billion and serves millions of users worldwide.

Although not a ranking, Wemimo Abbey, at just 32, is the youngest Nigerian on the list and cofounder of Esusu, an African fintech company addressing financial inclusion. Esusu helps renters build credit by reporting rent payments to credit bureaus, a service utilized by more than 20,000 properties and benefiting 1.8 million Americans.

  • In 2022, Esusu achieved a $1 billion valuation following a $130 million funding round. Abbey, who grew up in Lagos, has a background in mergers and acquisitions consulting and a passion for leveraging technology to drive social impact.

These three Nigerians show innovation, resilience, and the drive to address pressing global challenges. Their inclusion on the ForbesBLK 50 list is a foretelling of their entrepreneurial vision and the increasing influence of Nigerians on the global stage.

The ForbesBLK 50 list, launched under ForbesBLK, aims to go beyond net worth to measure impact and influence within the Black community and beyond.

Adebayo Ogunlesi, 2 other Nigerians make Forbes 50 wealthiest Black Americans list 2024

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Northern youths say new tax regime bill designed to ruin region

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President Bola Ahmed Tinubu

Northern youths say new tax regime bill designed to ruin region

Coalition of Northern Groups, Taraba State chapter, has expressed concerns that the proposed Tax Reform Bill by President Bola Ahmed Tinubu’s administration is cunningly designed with all premeditated intent and purposes to further develop the southern Nigeria at the expense of the north.

The northern youths, who lamented the economic hardship in the country, concluded that the effect bears more scars on the region than any other.

Aside from the new Tax Reform Bill, the group also condemned the federal government’s land-border closure, alleging that the ideas favour the South more than the North.

The group, in a statement signed by its coordinator, Comrade Idris Ayuba, made available to Vanguard Correspondent in Ilorin alleged that most difficulties the North faces are the repercussions of the decisions, citing the effect of Petroleum subsidy removal, land border closure and the new tax regime as few examples.

He noted in the statement that”reduction in the consumption of a capital commodity like petroleum occasioned by the subsidy removal is not a manifestation of a positive policy impact; it rather indicates reduced economic activities that force people out of energy consumption,”

On the land border closure, Idris said: “One of the primary concerns is the impact of this policy on the regional economy, which has been heavily reliant on cross-border trade with neighbouring countries. The closure has resulted in significant losses for traders and business owners in the region, exacerbating poverty and unemployment.

“The policy has given undue advantage to Southern Nigeria, for instance, the closure has led to an increase in demand for locally produced goods in Southern Nigeria, which has boosted the southern regional economy.

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“Additionally, the Southern region has benefited from the increased revenue generated from customs duties and taxes on imported goods.

“The closure has also created an imbalance in the distribution of economic opportunities, with Southern Nigeria having greater access to ports and international trade routes.

” This has resulted in a concentration of economic activity in the Southern region, further marginalizing Northern Nigeria,” Idris explained in the statement.

Northern youths say new tax regime bill designed to ruin region

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BREAKING: National Assembly extends lifespan of 2024 budget

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Senate President, Godswill Akpabio

BREAKING: National Assembly extends lifespan of 2024 budget

President of the Senate, Godswill Akpabio, has explained that the impressive performance of the 2024 national budget encouraged members of the National Assembly to extend the lifespan of the 2024 budget beyond December 31 this year.

Akpabio gave the explanation Wednesday in his welcome address during the presentation of the 2025 national budget to the joint session of the federal parliament.

He said, “We have noted the 2024 budget performances of 50% for capital expenditure and 48% for recurrent expenditure respectively.

“Given these great achievements, we have deemed it necessary to extend the life of the 2024 budget to June 30, 2025.

“The enabling law for this extension has already been put in place by this patriotic Assembly, as a testament to our appreciation for the great performance of the budget, ensuring we build upon your momentum.

“We commend your steadfast commitment to collaborate, cooperate and work with the National Assembly to achieve your grand vision for Nigeria.”

As the red chamber planned to start deliberations on the budget proposals, Akpabio warned heads of the various ministries, departments and agencies of the Federal Government to make themselves available for the budget defence.

He said: “Let me take this opportunity to stress the importance of the honourable ministers and heads of extra-ministerial departments being prepared to respond promptly to requests for them to come and defend their sectoral allocation in the exercise of our legislative oversight.

“We have observed concerning the behaviour from some ministers and heads of extra-ministerial departments, who sometimes neglect their duty to promptly submit to legislative oversight, sometimes even disregarding invitations from relevant committees of the legislature.

“It is imperative they understand that we will not condone such breaches of the constitution going forward.”

Akpabio noted that under the President Bola Tinubu administration, Nigerians has “witnessed remarkable strides in economic reforms, aimed at enhancing our nation’s stability and growth”.

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According to him, “The courageous decision to remove fuel subsidies, though challenging, showcases your (Tinubu’s) unwavering commitment to redirecting resources to critical sectors such as education and healthcare.

“Your collaboration with the Central Bank has cultivated an environment ripe for investment, and your focus on infrastructure development reflects a visionary commitment to improving the connectivity that fuels our economy.

“Furthermore, your initiatives to strengthen our security framework stand as a testament to your resolve in tackling the pressing challenges of our time.“

The chairman of the National Assembly commended Tinubu’s efforts in the era of security.

“We commend your tireless efforts, along with those of our brave men and women in uniform, for liberating our lands from the grip of terror.

“Today, no community is under the threat of terrorism, a monumental achievement we celebrate together.

“The reduction in kidnapping incidents and the neutralization of over 11,000 terrorists and insurgents is a testament to patriotism, strength and determination,” Akpabio said.

The Senate President said Tinubu’s dedication to fostering international relations paves the way for fruitful partnerships that will propel the nation forward.

He said: “We are witnessing a resurgence in foreign direct investment, made possible by your visionary directives that ease the visa processes for Nigerians travelling to other countries, and at the same time welcome investors and tourists alike to our country.

“Your innovative approaches in our embassies and the Ministry of Foreign Affairs have opened new doors for Nigeria and its people. For this we thank you.”

He said the introduction of social welfare programmes embodies the president’s unwavering belief in uplifting the living standards of our citizens.

“You remind us that our nation is not merely constructed of bricks and mortar, but of the resilience and determination of its people.

“Nigerians are taking notice of your remarkable achievements. You have doubled aggregate government revenues to over NGN 18.32 trillion, reduced debt servicing expenditures from 97% to 68%, fulfilled $7.5 billion in foreign exchange obligations, increased oil production to 1.8 million barrels per day, and launched the Compressed Natural Gas initiative.

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“Your administration has processed over N45.6 billion for student payments, signed the National Minimum Wage Law, and raised the national minimum wage to N70,000 a month, all while providing over N570 billion in financial support to the 36 states,” Akpabio said.

He commended the groundbreaking tax reform initiative including the four tax reform bills, namely the Joint Revenue Board of Nigeria (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024; Nigeria Tax Administration Bill, 2024; and the Nigeria Tax Bill, 2024.

He said the tax reform bills represented a monumental shift in the country’s fiscal landscape and that its critics haven’t read the proposed legislations.

The Senate President said: “It is disheartening that those who have not taken the time to understand these bills are the loudest critics.

“I urge all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully.

“This initiative marks the first comprehensive tax reform since Nigeria’s independence, presenting a transformative opportunity for rejuvenating small and medium enterprises and enhancing the livelihoods of ordinary Nigerians.

“These reforms will not only improve Nigeria’s revenue profile but also create a more conducive and internationally competitive business environment, transforming our tax system to support sustainable development.”

Akpabio said the infrastructure renaissance has paved the way for many roads, including the coastal road and crucial arteries in the Abuja capital city and other parts of the country.

“These developments are not merely about concrete and asphalt; they represent the lifeblood of our economy, connecting our people and fostering growth,” he added.

He urged Nigerians to bear with the president whose economic reforms had imposed hardship on Nigerians but noted that: “We are light-years away from where we began, though some rivers remain to be crossed.

“The pains we feel are not merely the pains of hardship; they are the pains of childbirth. When that season arrives in Nigeria, when this administration births that season, we will rejoice for the struggles endured.

“For now, I ask for your patience and urge all Nigerians to cooperate with the president and maintain faith in his vision.

“Mr. President, while you cannot be everywhere, you have eyes everywhere. We, the distinguished senators and honourable members of the House of Representatives, are your eyes in our constituencies and every corner of Nigeria.

“When our constituents struggle to afford rice, they come to us. When their shoes pinch, they seek our assistance. When the economic alarm sounds, they turn to us.

“Therefore, we are committed to ensuring that you touch the hearts and pulse of Nigerians through these appropriation bills resonating with the sounds of hope and signalling the dawn of Nigeria’s economic rebirth,” he added.

Akpabio ended his speech by leading the members of the National Assembly to sing for the president as they all chorused, “On your mandate we shall stand” to the admiration of the legislatures and the guests.

 

BREAKING: National Assembly extends lifespan of 2024 budget

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