August 1 Update: Government Highlights Tinubu’s Successes, Appeals For Protest Abstention

August 1 Update: Government Highlights Tinubu’s Successes, Appeals For Protest Abstention

The Secretary to the Government of the Federation, George Akume, outlined the Tinubu administration’s achievements in a press conference held in Abuja on Wednesday, as a nationwide protest looms…….. CONTINUE READING

Akume acknowledged that Nigerians are facing unintended economic hardships due to some bold policy decisions made by the current administration. He emphasized that the administration’s ultimate goal is to achieve economic prosperity, which is essential for progress, reducing poverty, and building resilient communities.

He urged for peace and stability, stating that they are crucial for fostering trust, cooperation, and shared purpose. “When peace prevails, policies are effective, businesses prosper, investments grow, and creativity flourishes,” he said.

Akume noted that the Tinubu administration, which began in May 2023, inherited an economy that required urgent and innovative reforms. He mentioned that measures such as the removal of an unsustainable fuel subsidy regime were necessary, though they led to unexpected economic adjustments affecting various aspects of daily life.

He highlighted that the administration allocated five billion Naira to each state to mitigate the impact of the fuel subsidy removal. Additionally, a Wage Award of Thirty-five Thousand Naira for six months was approved to assist workers, which exceeds the minimum wage. A new National Minimum Wage Act was also enacted, raising the minimum wage to N70,000, a more than 100% increase from the previous amount, with retroactive effect from April.

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