One Year of the Tinubu Administration: Building a safer, stronger and prosperous Nigeria
The withdrawal of the unsustainable fuel subsidy and the unification of the FOREX market were pivotal steps, redirecting funds to critical sectors like healthcare, education, and infrastructure.
EXECUTIVE SUMMARY
President Bola Ahmed Tinubu's historic victory and assumption of office on May 29, 2023, marked a significant turning point in Nigeria's democratic journey. His commitment to democracy and visionary leadership, encapsulated in the 8-Point Renewed Hope Agenda, have inspired confidence and trust among Nigerians, promising a new era of hope and transformation.
Economic Rebirth: Facing economic turmoil, widespread poverty, and rising unemployment, President Tinubu implemented bold reforms to stabilise the economy. The withdrawal of the unsustainable fuel subsidy and the unification of the FOREX market were pivotal steps, redirecting funds to critical sectors like healthcare, education, and infrastructure. These measures have reduced petrol importation by 50% and boosted investor confidence, making the Nigerian Stock Exchange the top-performing bourse globally.
Strengthening National Security: President Tinubu has prioritised national security, leading to significant investments in modernising and equipping the nation's security forces. Over 4,600 hostages have been freed, more than 9,300 hostiles neutralized, and over 7,000 terrorists and bandits arrested. Establishing the N50 billion Pulako Initiative and annually recruiting 30,000 new police personnel further underscore the administration's commitment to a safer Nigeria.
Boosting Agriculture and Food Security: To tackle food security, the administration declared a state of emergency and launched the National Agricultural Development Fund with N100 billion. Initiatives like the Dry Season Farming Initiative and the Green Imperative Programme aim to promote year-round farming and provide farmers with access to modern equipment and low-interest loans, ensuring a stable food supply.
Unlocking Energy and Natural Resources: The Renewed Hope Agenda focuses on developing renewable energy sources and enhancing the efficiency of the oil and gas sector. Policy directives have improved the investment climate, increased crude oil and NLNG production, and initiated significant projects like rehabilitating the Port Harcourt refinery and constructing the Ajaokuta-Abuja-Kano Gas Pipeline.
Transforming Infrastructure and Transportation: Significant investments in infrastructure are underway, including operationalising the Port Harcourt-Aba rail line and constructing the Lagos-Calabar Super Highway. The Renewed Hope Infrastructure Development Fund aims to raise N20 trillion to deliver critical projects and modernise ports and aviation facilities, creating an enabling environment for businesses.
Improving Education, Health, and Social Investment: The administration is expanding primary health centres and upgrading tertiary hospitals, ensuring better access to healthcare. The Student Loans Act 2024 and the establishment of the Nigerian Education Loan Fund highlight a commitment to broadening access to education. Social welfare schemes, including cash transfers and microcredit programmes, aim to uplift vulnerable households and support small businesses.
Accelerated Diversification through Youth-Driven Industrialization, Digitization, and Innovation: Recognising the youth as invaluable assets, the administration has launched initiatives like the Three Million Technical Talent Initiative and the iDICE Programme to empower young Nigerians with digital skills. The National Job Centre and the National Talent Programme aim to create employment opportunities and support youth-owned enterprises.
Improved Governance for Effective Service Delivery: To enhance service delivery, the administration has introduced the MOBILIZER app for citizen engagement and launched the Citizens’ Delivery Tracker App to assess public officials' performance. Reforms recommended by the Oronsaye Report aim to rationalise and restructure government agencies, increasing transparency and efficiency.
Conclusion: The Renewed Hope Agenda is a comprehensive strategy driving Nigeria towards sustainable development and improved quality of life. President Tinubu's administration is laying the foundation for lasting progress and a brighter future for all Nigerians through strategic investments, youth empowerment, and improved governance.