“In light of the potential challenges posed by the planned protests, the Nigeria Police Force is fully prepared to deploy all available resources to maintain law and order and to protect the lives and property of our citizens.
The Inspector General of Police (IGP), Kayode Egbetokun, who was quoted in a statement by the Force Spokesperson, Olumuyiwa Adejobi, to have made the point clear, that the police will not tolerate any act that would threaten the peace and well-being of the country
“The IGP therefore calls on all officers to be vigilant, professional, and uphold the highest standards of conduct during this period.
“The police boss urges all stakeholders, including the NLC, TUC, and other civil society groups, to embrace peaceful dialogue as the most effective means of resolving grievances, while also reemphasizing that the police is committed to ensuring a secure and conducive environment for open dialogue, constructive engagement and mutual understanding for a seamless exercise of civil rights.”
The Nigeria Police Force reiterated its commitment to ensure the safety and security of all citizens during the period of the protests as all necessary measures to facilitate the peaceful conduct of these demonstrations have been emplaced.
“However, it is hereby reaffirmed that any attempt by miscreants to exploit the situation for violent purposes viz-a-viz vandalism, gangsterism, and extortion will be met with firm, professional and commensurate lawful approach.”

The Nigeria Labour Congress (NLC) has called out on workers across the country to go out today, August 2, to protest against what it called “anti-poor policies of the government.”
A statement yesterday, signed by the President of the Congress, Joe Ajaero asked workers across the country to go out to carry out the protest until the government fulfills the demands it put across to it.
The statement listed the six demands as follows:
1. Immediate implementation, in good faith, of the resolution with the Congress, jointly signed with government and TUC ( Trade Union Congress)
2. Immediate reversal of all anti-poor policies of government, including the recent hike in PMS (petrol) price, school fees and VAT (Value Added Tax)
3. Fix our local refineries in Port Harcourt, Warri and Kaduna
4. Release of 8 month withholding salaries of university lecturers and workers
5. Accord appropriate recognition and support to the presidential steering committee and the work of its sub-committees
6. To put a stop to inhuman actions and policies.
This is even as the TUC, which joined in the protest today, spoke about what it called obnoxious policies of the government.
The TUC directed all its 36 states Councils and the Federal Capital Territory to mobilise for a protest against “the draconian policies of the Federal Government of Nigeria.”

In a statement, jointly signed by its President, Comrade Festus Osifo and Secretary, Nuhu Toro, TUC recalled that at his inauguration, the president Bola Ahmed Tinubu removed subsidy leading to a sharp rise in the price of Premium Motor Spirit (PMS) also known as fuel.
“This resulted to a hike from N190 per litre to N540 and later N620 per litre. This development has brought about untold hardship on Nigerians with many having to trek kilometers to work and places of business. “Organisations have shut down and workers laid off because of the anti-poor policy.”
TUC said that it is not opposed to the removal of subsidy, saying; “we support the fact that it has to be removed but there must be measures in place to ameliorate its effect on Nigerians.
“And such measures include: fixing of the refineries and possibly building more; functional transportation system; living wage, good medical facilities and employment.
“The policy was not thought through which is why its impact is excruciating on Nigerians. Sadly, when Nigerians cried out the federal government proposed a paltry sum of N8,000 for poor families without details on mode of payment. Annoyingly also, the same government is giving a whopping sum of N70bn to 469 lawmakers and N39bn to the judiciary. “The injustice and impunity cannot be tolerated.”
The Congress regretted that the federal government boycotted meetings scheduled at the Villa to discuss further on the palliatives thereby slowing down the negotiation process.
It said that Nigerians are dying and that the Congress cannot afford to keep quiet any longer. “The federal government must realise that governance goes beyond declaration of emergency on food security; it is time to swing into action to avert the starvation in the land.
“Government promised to attract investors when they win elections which we have not seen. They should go abroad, get investors, create more decent jobs and provide an enabling environment for investment in terms of security and others.
“It is when more people get employed that taxes can be paid and government will more money.
“The exchange rate is abysmally high and stifling businesses. This has affected the cost of production and inflation rate. Naira should not be on a free fall; no country allows that.
“Nigeria is dollar dependent and our only major source of forex is oil and painfully we cannot refine our crude. “The federal government has failed to manage it forex well and it is taking toll on the pockets of Nigerians. Government must come up with good monetary policies that will help investments and also empower the naira.
“President Bola Ahmed Tinubu -led administration has said that so far the sum of N1trn has been saved from the removal of subsidy in two months. If they knew the country would save that much within two months why then borrow the sum of $800m World facility?
“It shows improper planning or it could also be that some people somewhere took advantage of the situation to rip-off the country.
“All affiliates and State councils of congress are hereby directed to mobilise their members for action by midnight of today, 1st August, 2023.”

“Our economy is going through a tough patch and you are being hurt by it. The cost of fuel has gone up. Food and other prices have followed it. Households and businesses struggle. Things seem anxious and uncertain. I understand the hardship you face. I wish there were other ways. But there is not. If there were, I would have taken that route as I came here to help not hurt the people and nation that I love.”
These were the words of President Bola Ahmed Tinubu in a nationwide broadcast to Nigerians today, July 31.
The President said that what he can offer in the immediate after the fuel subsidy removal is to reduce the burden the current economic situation has imposed on all, most especially on businesses, the working class and the most vulnerable ones.
President Tinubu reminded Nigerians that he had promised to reform the economy for the long-term good by fighting the major imbalances that had plagued the nation’s economy.
“Ending the subsidy and the preferential exchange rate system were key to this fight. This fight is to define the fate and future of our nation. Much is in the balance.
“Thus, the defects in our economy immensely profited a tiny elite, the elite of the elite you might call them. As we moved to fight the flaws in the economy, the people who grow rich from them, predictably, will fight back through every means necessary.”
The full text of President Tinubu’s 41- paragraph broadcast on the current economic challenges, titled: After Darkness Comes The Glorious Dawn:
My fellow citizens,
I want to talk to you about our economy. It is important that you understand the reasons for the policy measures I have taken to combat the serious economic challenges this nation has long faced.
I am not going to talk in difficult terms by dwelling on economic jargon and concepts. I will speak in plain, clear language so that you know where I stand. More importantly, so that you see and hopefully will share my vision regarding the journey to a better, more productive economy for our beloved country.
For several years, I have consistently maintained the position that the fuel subsidy had to go. This once beneficial measure had outlived its usefulness. The subsidy cost us trillions of Naira yearly. Such a vast sum of money would have been better spent on public transportation, healthcare, schools, housing and even national security. Instead, it was being funnelled into the deep pockets and lavish bank accounts of a select group of individuals.
This group had amassed so much wealth and power that they became a serious threat to the fairness of our economy and the integrity of our democratic governance. To be blunt, Nigeria could never become the society it was intended to be as long as such small, powerful yet unelected groups hold enormous influence over our political economy and the institutions that govern it.
The whims of the few should never hold dominant sway over the hopes and aspirations of the many. If we are to be a democracy, the people and not the power of money must be sovereign.
The preceding administration saw this looming danger as well. Indeed, it made no provision in the 2023 Appropriations for subsidy after June this year. Removal of this once helpful device that had transformed into a millstone around the country’s neck had become inevitable.
Also, the multiple exchange rate system that had been established became nothing but a highway of currency speculation. It diverted money that should have been used to create jobs, build factories and businesses for millions of people. Our national wealth was doled on favourable terms to a handful of people who have been made filthy rich simply by moving money from one hand to another. This too was extremely unfair.
It also compounded the threat that the illicit and mass accumulation of money posed to the future of our democratic system and its economy.
I had promised to reform the economy for the long-term good by fighting the major imbalances that had plagued our economy. Ending the subsidy and the preferential exchange rate system were key to this fight. This fight is to define the fate and future of our nation. Much is in the balance.
Thus, the defects in our economy immensely profited a tiny elite, the elite of the elite you might call them. As we moved to fight the flaws in the economy, the people who grow rich from them, predictably, will fight back through every means necessary.
Our economy is going through a tough patch and you are being hurt by it. The cost of fuel has gone up. Food and other prices have followed it. Households and businesses struggle. Things seem anxious and uncertain. I understand the hardship you face. I wish there were other ways. But there is not. If there were, I would have taken that route as I came here to help not hurt the people and nation that I love.
What I can offer in the immediate is to reduce the burden our current economic situation has imposed on all of us, most especially on businesses, the working class and the most vulnerable among us.
Already, the Federal Government is working closely with states and local governments to implement interventions that will cushion the pains of our people across socio-economic brackets.
Earlier this month, I signed four (4) Executive Orders in keeping with my electoral promise to address unfriendly fiscal policies and multiple taxes that are stifling the business environment. These Executive Orders on suspension and deferred commencement of some taxes will provide the necessary buffers and headroom to businesses in manufacturing sector to continue to thrive and expand.
To strengthen the manufacturing sector, increase its capacity to expand and create good paying jobs, we are going to spend N75 billion between July 2023 and March 2024. Our objective is to fund 75 enterprises with great potential to kick-start a sustainable economic growth, accelerate structural transformation and improve productivity. Each of the 75 manufacturing enterprises will be able to access N1billion credit at 9% per annum with maximum of 60 months repayment for long term loans and 12 months for working capital.
Our administration recognises the importance of micro, small and medium-sized enterprises and the informal sector as drivers of growth. We are going to energise this very important sector with N125 billion.
Out of the sum, we will spend N50 billion on Conditional Grant to 1 million nano businesses between now and March 2024. Our target is to give N50,000 each to 1,300 nano business owners in each of the 774 local governments across the country.
Ultimately, this programme will further drive financial inclusion by onboarding beneficiaries into the formal banking system. In like manner, we will fund 100,000 MSMEs and start-ups with N75 billion. Under this scheme, each enterprise promoter will be able to get between N500,000 to N1million at 9% interest per annum and a repayment period of 36 months.
To further ensure that prices of food items remain affordable, we have had a multi-stakeholder engagement with various farmers’ associations and operators within the agricultural value chain.
In the short and immediate terms, we will ensure staple foods are available and affordable. To this end, I have ordered release of 200,000 Metric Tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices. We are also providing 225,000 metric tonnes of fertilizer, seedlings and other inputs to farmers who are committed to our food security agenda.
Our plan to support cultivation of 500,000 hectares of farmland and all-year-round farming practice remains on course. To be specific, N200 billion out of the N500 billion approved by the National Assembly will be disbursed as follows:
Our administration will invest N50 billion each to cultivate 150,000 hectares of rice and maize.
-N50 billion each will also be earmarked to cultivate 100,000 hectares of wheat and cassava.
This expansive agricultural programme will be implemented targeting small-holder farmers and leveraging large-scale private sector players in the agric business with strong performance record.
In this regard, the expertise of Development Finance Institutions, commercial banks and microfinance banks will be tapped into to develop a viable and an appropriate transaction structure for all stakeholders.
Fellow Nigerians, I made a solemn pledge to work for you. How to improve your welfare and living condition is of paramount importance to me and it’s the only thing that keeps me up day and night.
It is in the light of this that I approved Infrastructure Support Fund for the States. This new Infrastructure Fund will enable States to intervene and invest in critical areas and bring relief to many of the pain points as well as revamp our decaying healthcare and educational Infrastructure.
The fund will also bring improvements to rural access roads to ease evacuation of farm produce to markets. With the fund, our states will become more competitive and on a stronger financial footing to deliver economic prosperity to Nigerians.
Part of our programme is to roll out buses across the states and local governments for mass transit at a much more affordable rate. We have made provision to invest N100 billion between now and March 2024 to acquire 3000 units of 20-seater CNG-fuelled buses.
These buses will be shared to major transportation companies in the states, using the intensity of travel per capital. Participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period.
In the same vein, we are also working in collaboration with the Labour unions to introduce a new national minimum wage for workers. I want to tell our workers this: your salary review is coming.
Once we agree on the new minimum wage and general upward review, we will make budget provision for it for immediate implementation.
I want to use this opportunity to salute many private employers in the Organised Private Sector who have already implemented general salary review for employees.
Fellow Nigerians, this period may be hard on us and there is no doubt about it that it is tough on us. But I urge you all to look beyond the present temporary pains and aim at the larger picture. All of our good and helpful plans are in the works. More importantly, I know that they will work.
Sadly, there was an unavoidable lag between subsidy removal and these plans coming fully on line. However, we are swiftly closing the time gap. I plead with you to please have faith in our ability to deliver and in our concern for your well-being.
We will get out of this turbulence. And, due to the measures we have taken, Nigeria will be better equipped and able to take advantage of the future that awaits her.
In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters. That money will now be used more directly and more beneficially for you and your families.
For example, we shall fulfill our promise to make education more affordable to all and provide loans to higher education students who may need them. No Nigerian student will have to abandon his or her education because of lack of money.
Our commitment is to promote the greatest good for the greatest number of our people. On this principle, we shall never falter.
We are also monitoring the effects of the exchange rate and inflation on gasoline prices. If and when necessary, we will intervene.
I assure you my fellow country men and women that we are exiting the darkness to enter a new and glorious dawn.
Now, I must get back to work in order to make this vision come true.
Thank you all for listening and may God bless Federal Republic of Nigeria.