President Bola Ahmed Tinubu has outlined three key achievements of his administration to discourage the planned nationwide protest from August 1-10, 2024, aimed at addressing economic hardships. Speaking to a delegation of Islamic leaders led by Sheikh Bala Lau at the State House on Thursday, Tinubu highlighted recent government initiatives designed to alleviate the financial strain on Nigerians.
The President pointed to the launch of a student loan scheme, a substantial increase in the minimum wage to N70,000, and the introduction of a consumer credit initiative as significant steps taken by his administration. Tinubu emphasized that these measures are intended to improve the quality of life for ordinary Nigerians and address some of the pressing economic challenges facing the country.
“We are reworking our social welfare scheme to ensure it reaches every ward and connects directly with our people. This will allow us to provide allowances to those who need them most,” Tinubu said. He also discussed the benefits of the student loans, which aim to ease the financial burden on families by covering school fees, and the consumer credit initiative designed to make purchasing cars and homes more accessible through gradual repayments.
The President’s remarks come on the heels of recent legislative and administrative actions. Last week, the Nigerian National Assembly passed the new Minimum Wage Act, setting the new minimum wage at N70,000. Additionally, the government has begun disbursing funds from its N35 billion student loan scheme to 110,000 beneficiaries, following its April approval of a N100 billion consumer credit plan.
Tinubu urged protesters to consider these developments before taking to the streets, warning against the risk of destabilizing the nation. He implored Nigerians to recognize the government’s efforts and to work collaboratively to address the country’s challenges rather than resorting to protests that could exacerbate the situation.
