President Bola Ahmed Tinubu has announced that the federal government has expanded cash transfer programs to include additional 15 million vulnerable households.
The President says the expansion of the social safety net program takes effect from this month, October.
Outlining some of the efforts his administration is making to reduce the hardship caused by the petrol subsidy removal, President Tinubu mentioned during his Independence address that the government is also providing investment funding for enterprises with boundless potential.
He further stated that increasing investment in micro, small and medium-sized enterprises is of major focus for his administration.
The Nigerian leader added that these efforts are to boost employment and urban incomes.
“To boost employment and urban incomes, we are providing investment funding for enterprises with great potential. Similarly, we are increasing investment in micro, small and medium-sized enterprises.
Speaking on the ongoing investigation at the Central Bank of Nigeria, President Tinubu said that the investigator will soon present his findings on past lapses in the management of the apex bank and how to prevent similar reoccurrences.
He added that henceforth, monetary policy shall be for the benefit of all Nigerians and no longer the exclusive domain of the wealthy.
“I pledged a thorough housecleaning of the den of malfeasance the CBN had become. That housecleaning is well underway. A new leadership for the Central Bank has been constituted. Also, my special investigator will soon present his findings on past lapses and how to prevent similar reoccurrences. Henceforth, monetary policy shall be for the benefit of all and not the exclusive province of the powerful and wealthy.”
The President assured that the newly inaugurated Committee on Tax Reforms will improve the efficiency of tax administration in the country and address fiscal policies that affects the nation’s business environment
“Wise tax policy is essential to economic fairness and development. I have inaugurated a Committee on Tax Reforms to improve the efficiency of tax administration in the country and address fiscal policies that are unfair or hinder the business environment and slow our growth.”