- The presidential spokesman said Tinubu did not also leave out the development of infrastructure across the country in various sectors.
- He added that $1 billion allocation to cut post-harvest loss by 50 percent.
Since assuming office in May 2023, President Bola Tinubu has implemented various measures to reshape Nigeria’s economy.
According to Chief Ajuri Ngelale, the presidential spokesperson these efforts have been significant and far-reaching.
Ngelale highlighted the president’s achievements, including the reform of the fuel subsidy regime, unification of foreign exchange rates, and putting an end to round-tripping in the Central Bank of Nigeria.
These measures have earned the president local and international commendation.
To alleviate the impact of these reforms on citizens, the president has launched a broad range of economic interventions.
One such initiative is the Medium, Small, and Micro Enterprises (MSME) intervention, which includes a N200 billion capitalization program.
This program provides N50 billion in grants to over one million Nano businesses across the country, as well as single-digit interest rate loans to hundreds of thousands of MSMEs.
In addition to economic interventions, the president has also focused on infrastructure development across various sectors.
This includes significant investments in power performance, such as the Siemens Energy agreement, aimed at modernizing the nation’s power transmission grid and ensuring quality and quantity power supply.
Other notable achievements include:
- N150 billion in single-digit interest rate loans to MSMEs
- N75 billion in loans to large-scale manufacturers
- One billion dollars dedicated to off-grid power through capital formation and mobilization
- Allocation of off-grid solar home systems to primary health facilities, rural communities, and rural farms to reduce post-harvest loss