State of the nation: Tinubu’s broadcast inspires renewed hope for Nig – MD ADSC, Oluwafemi

…appeals to Nigerians to be patient with president Tinubu as there’s ray of hope

…begs NLC to shelve tomorrow’s nationwide industrial action

The CEO of the Africa Development Study Centre (ADSC), Ambassador Victor Walsh Oluwafemi has said President Bola Tinubu’s last Monday state of the nation broadcast has rekindled renewed hope for all Nigerians as his planned measures would catapult Nigeria’s economy into quick recovery.

This was contained in a statement issued on Tuesday and personally signed by him.

Amb Oluwafemi hailed Tinubu for the strategic measures put in place to rejig the economy for sustainable growth and development after the fuel subsidy removal.

He said that President’s speech on his road map to addressing the pains of Nigerians is welcoming and it inspires renewed hope particularly from the perspectives of clear actionable plans to deliver value for the citizens.

“Particularly important in his view is the planned spend of ₦75bn between July 2023 and March 2024 to strengthen the manufacturing sector, increase its capacity to expand and create good paying jobs and fund 75 enterprises with great potentials to kick start a sustainable economic growth, accelerate structural transformation and improve productivity amongst others.

Oluwafemi also applaud the President on the plan of targeting 75 manufacturing enterprises to access ₦1bn at 9% p.a. with the maximum of 60 months repayment for long term loans & 12 months for working capital.

In the same vein the speech also addressed the most critical sector of the economy- the Micro, Small, and Medium-sized Enterprises and the informal sector with ₦125bn.

“By removing the subsidy, government is saving N1trn monthly which will go a long way in helping to stabilize our economy and ending the multiple exchange rates was necessary to correcting the imbalances bedevilling the Nigerian economy.

He appealed to the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and other strategic stakeholders to engage with the government to chart a pathway to national development by calling off the planned protest and join hands with other Nigerians to make the initiatives and the socio- economic interventions to succeed in the interest of nation building.

He explained that “an industrial action of this magnitude will do no one no good as Tinubu has good intentions to take Nigeria to greater heights of excellence without abandoning any segment of the Nigerian economy.