President Bola Ahmed Tinubu has highlighted several government achievements as reasons why Nigerians should reconsider participating in the planned hardship protest from August 1-10, 2024.
Speaking at the State House on Thursday to a delegation of Islamic leaders led by Sheikh Bala Lau, Tinubu pointed to the launch of the student loan scheme, the introduction of a new N70,000 minimum wage, and the establishment of a consumer credit initiative as key accomplishments.
Tinubu emphasized the government’s efforts to reform its social welfare programs to better serve vulnerable Nigerians at the grassroots level.
He stated, “We are reworking the social welfare scheme to reach the ward level, which is the closest to our people. We are going to ensure that we re-establish connections with the wards, again, so that we can give allowances to the poor and the vulnerable.”
He further explained that the student loan scheme would help cover school fees, while the consumer credit initiative would enable citizens to purchase cars and houses with the option of gradual repayment. “We have increased the minimum wage by more than 100 percent,” he added.
These developments follow the recent passage of the new Minimum Wage Act by the Nigerian National Assembly, agreeing on a N70,000 minimum wage after discussions between Tinubu’s administration and Nigerian workers. In addition, the government began disbursing funds to 110,000 beneficiaries of its N35 billion student loan scheme last week.