Politics
Tinubu Criticizes Nigeria’s Poor Electricity Generation As Shameful
Tinubu Criticizes Nigeria’s Poor Electricity Generation As Shameful....KINDLY READ THE FULL STORY HERE▶
President Bola Ahmed Tinubu has expressed profound disappointment with Nigeria’s inadequate electricity generation despite its vast size. Speaking during the inauguration of a 31-member Presidential Economic Coordination Council at the Presidential Villa in Abuja, Tinubu described Nigeria’s current electricity production of 4.5GW as shameful………. CONTINUE READING
He emphasized the urgent need for innovative solutions to address the country’s economic challenges, stressing the crucial role of public-private partnerships in driving economic reforms. Tinubu highlighted energy security as a critical concern, advocating for collective efforts to bolster the oil and gas sectors and expand electricity generation and distribution nationwide.
Tinubu unveiled a comprehensive Economic Stabilization Programme aimed at stabilizing the economy, enhancing employment prospects, and promoting financial resilience. Key initiatives under this programme include increasing electricity generation capacity from 4.5GW to 6GW within six months, ramping up oil production to 2 million barrels per day by next year, and eliminating barriers to energy sector investments to enhance competitiveness.
Furthermore, the programme targets agricultural development and food security, aiming to boost staple crop production by small-scale farmers and collaborate with larger commercial farmers. It also plans to improve healthcare accessibility and affordability for millions of Nigerians, upgrade healthcare facilities with renewable energy sources, and provide substantial support to vulnerable groups through healthcare insurance schemes.
On fiscal measures, Tinubu outlined initiatives to expand access to finance for housing, micro, small, and medium enterprises (MSMEs), and manufacturing sectors. These include a substantial funding facility for youth-owned enterprises across all states, a Manufacturing Stabilization Fund, and a Mortgage Finance Acceleration Facility to address housing challenges.
Tinubu projected that these measures would create significant employment opportunities, with an estimated 4.7 million direct and indirect jobs expected to be generated over the next six to twelve months.
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