{"id":41731,"date":"2024-08-04T06:42:21","date_gmt":"2024-08-04T06:42:21","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=41731"},"modified":"2024-08-04T06:43:35","modified_gmt":"2024-08-04T06:43:35","slug":"tinubu-justifies-subsidy-removal-says-policy-curbs-smuggling-rent-seeking","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/08\/04\/tinubu-justifies-subsidy-removal-says-policy-curbs-smuggling-rent-seeking\/","title":{"rendered":"Tinubu Justifies Subsidy Removal; Says Policy Curbs Smuggling, Rent-Seeking"},"content":{"rendered":"<p dir=\"ltr\">In a national broadcast on Sunday, August 4, 2024, President Bola Tinubu addressed the nation, addressing concerns stemming from recent massive protests against bad governance. The address was delivered amidst turmoil and significant unrest in various states.<\/p>\n<p dir=\"ltr\">President Tinubu began by expressing his deep sorrow over the violence and loss of life associated with the protests, which had tragically affected Borno, Jigawa, Kano, Kaduna, and other regions. He condemned the destruction of public facilities and looting of businesses, emphasizing that such actions hinder national progress and waste valuable resources that must now be diverted to repairs.<\/p>\n<p dir=\"ltr\">The President extended his condolences to the families of those who lost their lives and called for an end to the violence. He urged protest organizers and participants to halt further demonstrations and engage in dialogue, emphasizing the need for unity and cooperation across all segments of society to address the nation&#8217;s challenges.<\/p>\n<p dir=\"ltr\">Tinubu highlighted the significance of the recent subsidy removal and other economic reforms implemented by his administration. He explained that the removal of fuel subsidies and the elimination of multiple foreign exchange systems were crucial steps in addressing economic inefficiencies. These measures, he said, had curtailed the activities of smugglers and rent-seekers who had exploited these systems for personal gain.<\/p>\n<p dir=\"ltr\">&#8220;The subsidy removal has effectively blocked the greed and profits of smugglers and rent-seekers. It has stopped the undue subsidies that were extended to neighboring countries at the expense of our own economy,&#8221; President Tinubu stated. He reaffirmed his commitment to delivering good governance and emphasized the progress made in economic reforms, including doubling government revenues, reducing debt service, and clearing foreign exchange obligations.<\/p>\n<p dir=\"ltr\">The President also outlined the achievements of his administration, such as significant infrastructure projects, enhancements in the oil and gas sector, and various initiatives aimed at improving education, healthcare, and job creation. Notable projects include the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Highway, which are expected to create thousands of jobs and boost economic activities.<\/p>\n<p dir=\"ltr\">Tinubu reaffirmed his administration&#8217;s focus on revitalizing the economy, supporting the youth through student loans and entrepreneurship programs, and promoting agricultural development. He stressed the importance of continued efforts to increase food production and reduce reliance on imports.<\/p>\n<p dir=\"ltr\">In closing, President Tinubu urged Nigerians to embrace hope and unity, rejecting divisive and destructive actions. He reassured the public of his administration&#8217;s commitment to democratic principles and the ongoing efforts to address the nation&#8217;s needs. The President called for collective action to build a prosperous future and ensure that the gains of recent reforms benefit all citizens.<\/p>\n<p dir=\"ltr\">The broadcast concluded with a call for peace and security, with a promise that security operatives will continue to uphold law and order while respecting human rights. President Tinubu&#8217;s address underscored his administration&#8217;s dedication to navigating the country&#8217;s challenges and achieving long-term stability and growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a national broadcast on Sunday, August 4, 2024, President Bola Tinubu addressed the nation, addressing concerns stemming from recent massive protests against bad governance. The address was delivered amidst turmoil and significant unrest in various states. President Tinubu began by expressing his deep sorrow over the violence and loss of life associated with the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":40937,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-41731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/41731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=41731"}],"version-history":[{"count":2,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/41731\/revisions"}],"predecessor-version":[{"id":41733,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/41731\/revisions\/41733"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/40937"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=41731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=41731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=41731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}