Tinubu Addresses Economic Hardship, Pledges Poverty Alleviation

In his 66th Independence Day address, President Bola Tinubu acknowledged the ongoing economic hardships faced by many Nigerians, including difficulties in affording food, school fees, medical bills, and transportation. He emphasized that these struggles predated his administration but recognized the government's responsibility to address the issues affecting vulnerable citizens.

Tinubu attributed the hardships to decades of low productivity, inadequate infrastructure, and insufficient opportunities. He stated that while his administration could not resolve these long-standing problems in four years, it could change the country's trajectory and progressively lift Nigerians out of poverty.

To this end, he highlighted initiatives such as strengthening direct support for the poorest households, improving the National Social Register, and establishing the Nigerian Education Loan Fund to assist low-income families with higher education costs. Additionally, he mentioned the Consumer Credit Corporation (CREDICORP) as a means to help working Nigerians acquire essential assets.

The administration has also ensured timely payment of salaries and pensions since 2023 and reformed the national pension program to benefit retirees and vulnerable Nigerians.