Abuja, July 31 (Mediaage NG News) – The Nigerian President, Bola Tinubu on Monday in a televised broadcast, revealed in details the measures his administration has put in place to tackle the rising cost of living that has led to civil unrest and looting in some parts of the country.
President Tinubu said he had ordered the release of 200,000 tonnes of grain from strategic reserves and also promised to increase the minimum wage, of workers.
He encourage more and better-paid jobs and financial help for the farming, manufacturing and smaller business sectors.
While disclosing that he understood the hardship faced by Nigerians, he however, defended the recent removal of fuel subsidy, saying it had saved Nigeria about ₦990,613,000.00 ($1.3bn (£1bn).
The removal of the subsidy since the president assumed office last May, has led to protests, amid discontent amongst Nigerians.
“I understand the hardship you face; I wish there were other ways, but there are none… Have faith in our ability to deliver. We will get out of this turbulence”, Tinubu assured Nigerians.
He announced a $129m fund to purchase about 3,000 commercial buses to be distributed nationwide to combat the rising cost of transportation and also urged for patience while implementing his economic plans.
