In the wake of 2024, President Bola Tinubu and his ministerial team have reaffirmed their commitment to fulfilling promises made to the Nigerian populace. The President, in his New Year speech, expressed dedication to realizing pre-election pledges and ensuring the trust bestowed upon his administration is justified. As the new year unfolds, it becomes imperative to revisit the key promises the Federal Government vowed to fulfill in the coming months.
Security
The prevalent security challenges, including insurgency, banditry, and regional conflicts, have spurred concerns among Nigerians. State Minister of Defence, Dr. Bello Matawalle, has optimistically stated that, by November 2024, the government aims to overcome all forms of insecurity in the nation. Proactive measures and strategies have been set in motion to combat bandits and terrorists.
New minimum wage
The anticipation of a new wage structure looms as Minister of Information and Communication, Idris Mohammed, declared that a revised minimum wage would take effect from April 1, 2024. The President, in his New Year address, reassured the implementation of a new national living wage.
Improved Electricity Supply
Minister of Foreign Affairs, Amb. Maitama Tuggar, predicts enhanced electricity supply by the first half of 2024. The Siemens gas deal between Nigeria and Germany and the completion of the Ajaokuta-Kaduna-Kano (AKK) pipeline project are expected to contribute to this improvement.
Refinery Operations
The commitment to making all four state-owned refineries in Port Harcourt, Kaduna, and Warri operational by the end of 2024 has been reiterated by the government. Notably, the Port Harcourt refinery is set to commence operations in the first quarter of 2024 following the completion of its mechanical turnaround maintenance.
Students loan programme
President Bola Tinubu, during the 29th National Economic Summit, announced the initiation of the government’s Students Loan Programme in January 2024. This program aims to ensure a consistent educational experience for students while eliminating the challenges posed by strikes.
Loans for MSMEs
The Office of the Vice President, Kashim Shettima, in collaboration with the Bank of Industry, is poised to disburse loans to Micro, Small, and Medium-sized Enterprises (MSMEs) starting January 2024. Approximately ₦75 billion will be allocated to small businesses nationwide at an interest rate of 9%.
New regulations for loan apps
In response to increasing indebtedness to digital money lenders, the Federal Competition and Consumer Protection Commission (FCCPC) plans to unveil a new regulatory framework in 2024. The objective is to strike a balance between responsible borrowing and lending, addressing the issue of abuse and harassment by loan apps.
As the Federal Government embarks on these ambitious endeavors, Nigerians eagerly anticipate the realization of these promises, ushering in positive transformations across various sectors. The coming months will undoubtedly witness scrutiny and assessment as citizens hold the government accountable for the pledges made at the beginning of the year.
