President Bola Tinubu will address Nigerians on Sunday, August 4, 2024, at 7:00 am.
This announcement, made in a State House Press Release, comes in the wake of the recent EndBadGovernance protest, which has garnered significant attention across the country.
The address will be broadcast on the Nigerian Television Authority (NTA) and the Federal Radio Corporation of Nigeria (FRCN), with repeat airings scheduled for 3:00 pm and 7:00 pm on the same day.
The President’s address comes amid widespread demonstrations driven by public dissatisfaction with the administration’s handling of economic issues, including soaring inflation and high cost of living.
The protests, which began earlier on Thursday have seen significant unrest and clashes between demonstrators and security forces.
The EndBadGovernance protests, led primarily by youth groups, have erupted nationwide in response to the worsening economic conditions in Nigeria. Demonstrators are voicing their frustrations over rising food prices, unemployment, and perceived government mismanagement. The protests have been marked by instances of violence and looting, particularly In the Northern part of the country with the Federal capital territory inclusive.
The removal of fuel subsidies has exacerbated inflation by increasing transportation and production costs, contributing to the economic hardship that has fueled the protests.
The EndBadGovernance protests have been driven by Nigeria’s soaring inflation rates. The National Bureau of Statistics (NBS) reports that the headline inflation rate reached 34.19% in June 2024, up from 33.95% in May 2024. This reflects significant economic strain on Nigerian households.
Food inflation surged to 40.87% in June 2024, compared to 40.66% in May 2024. This is a sharp rise from the 25.25% recorded in June 2023, with essential food items like rice and grains seeing price increases of up to 160% over the past year.
Core inflation, excluding food and energy, was 27.40% year-on-year in June 2024, up from 20.06% the previous year. Month-on-month core inflation rose slightly to 2.06% from 2.01% in May 2024.
Nigerian states experienced lower inflation rates, with Bauchi (43.95%), Kogi (39.91%), and Oyo (39.15%) having the highest rates. In contrast, Borno (25.90%) and Benue (27.52%) experienced lower inflation rates.
The rising cost of living has led to widespread protests as Nigerians demand government action and relief measures. The demonstrations reflect broader frustrations with economic management and governance.
TheWitness reports indicate that government properties, including the Kaduna State Traffic Laws Enforcement Authority (KASTLEA) and the Kaduna State Investment Promotion Agency (KADIPA), have been looted. Social media user Abdullah Yunus Abdallah (@Abdool85) reported that the protests, initially peaceful, devolved into violence, with property damage and attacks on police officers. At least two fatalities have been reported, leading to a curfew in the state.
Likewise, The Digital Innovation Park in Kano, a facility set to support Nigeria’s technology sector, was set ablaze and looted by protesters. Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, condemned the destruction, noting the significant financial loss and impact on technology workforce development. Reports also highlight attempts to loot a grocery store on Zoo Road, which were thwarted by police.
Nigeria Police Force reports indicates seven deaths, thirty-four injuries, and six hundred eighty-one arrests, disputing Amnesty’s figures and claims.
President Tinubu has directed the immediate release and distribution of a new round of grains and palliatives to the Federal Capital Territory (FCT) to mitigate the effects of the high cost of living following the removal of fuel subsidies. This measure comes after recent attacks on a government warehouse in Abuja by disgruntled residents.
In a show of solidarity, members of the House of Representatives have unanimously agreed to halve their salaries for six months. This decision, reached during a plenary session, aims to support the government’s efforts to address the rising cost of food and economic hardship faced by Nigerians. The move reflects a broader commitment to shared sacrifice amidst the ongoing crisis.
In a related development, President Tinubu signed a bill into law increasing the national minimum wage from N30,000 to N70,000. The bill, passed by the National Assembly, also reduces the review timeline for the minimum wage from five years to three. The President’s signing of the bill during a Federal Executive Council (FEC) meeting marks a significant step in addressing economic disparities and improving worker welfare.
Efforts to alleviate food insecurity have been supported by international bodies. The United States has invested nearly $200 million in food security initiatives in Nigeria over the past five years and allocated $150 million in grants to Nigerian private sector companies. Additionally, the United Nations plans to raise $306 million to combat food insecurity in North-East Nigeria, where millions face severe food shortages.
As Nigeria grapples with economic challenges and widespread protests, President Tinubu’s address tomorrow is expected to outline the administration’s plans to navigate the current crisis and provide assurances to the Nigerian people.