Economic and Political Key Facts from President Bola Tinubu’s New Year broadcast:

Date:

Economic Key Facts:
1. Fiscal Decisions: President Tinubu highlights the removal of the fuel subsidy and reforms in the foreign exchange system to avert fiscal catastrophe.
2. Economic Recovery Plans: The administration has laid the groundwork for economic recovery, with a focus on accelerating service delivery across sectors.
3. Power Projects: Agreements, including one with the German Chancellor, have been made to expedite power projects such as the Siemens Energy initiative for a reliable electricity supply.
4. Local Refining: Plans to restart local refining of petroleum products, involving the Port Harcourt Refinery and the Dangote Refinery.
5. Agricultural Initiatives: A commitment to cultivate 500,000 hectares of farmland across the country to grow staple crops and ensure constant food supply.
6.Business Environment:Emphasis on simplifying fiscal and tax policies to create a conducive business environment and attract local and foreign investments.
7. Budget Priorities: The 2024 budget reflects a focus on national defense, job creation, macro-economic stability, investment optimization, human capital development, poverty reduction, and social security.
8.National Living Wage:The implementation of a new national living wage for workers as part of efforts to address economic aspirations and well-being.

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Political Key Facts:
1. **Democratic Transition:** Acknowledgment of a peaceful and orderly transfer of power, marking another step in Nigeria’s 24 years of unbroken democracy.
2. Leadership Mandate: President Tinubu received a mandate from the people to revamp the economy, restore security, boost industrial and agricultural sectors, and set the country on a path to national greatness.
3. Security Initiatives: Silent efforts to address security challenges, with a commitment to ensuring peace of mind for citizens in their homes, workplaces, and on the roads.
4. Governance Evaluation: Establishment of a Policy Coordination, Evaluation, Monitoring, and Delivery Unit to ensure governance output improves living conditions.
5. Societal Equality: A commitment to building a fair and equitable society, addressing widening inequality, and providing equal opportunities for hardworking Nigerians.

President Tinubu emphasizes the interconnected destinies of Nigerians and calls for collective efforts, transcending political differences, for the peace, progress, and stability of the country.

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