Tinubu to address Nigerians 7pm today

THE presidential spokesman, Dele Alake has revealed that president Bola Tinubu will address Nigerians today (Monday) at 7 p.m.

“Television, radio stations and other electronic media outlets are enjoined to hook up to the network services of the Nigerian Television Authority and Radio Nigeria for the broadcast,” Alake said.

The broadcast’s agenda is not yet known as of press time, however it may be related to the economic hardship being felt by Nigerians as a result of the removal of subsidies on Premium Motor Spirit (PMS), also known as petrol.

There appeared to be no respite for Nigerians as President Bola Tinubu announced the removal of petrol subsidies in his inaugural speech on May 29, 2023.

With the news, the price of a litre of petrol increased from N184 to N500 at the pump. About two months later, on Tuesday, July 18, 2023, the price soared from N500 to over N617, sparking rage and outrage from economically stranded citizens.

In mid-July, Nigeria’s headline inflation climbed to 22.79% in June from 22.41% in May 2023, due to skyrocketing food prices and rising transportation costs caused by the removal of fuel subsidies.

The unusual fuel costs coincide with the Tinubu administration’s floating of the naira.

As the economy worsened, the Tinubu administration announced a plan to provide N8,000 subsidized palliatives to 12 million households for six months, but the action drew sharp criticism, prompting the Federal Government to reverse course and urge a review of the plan.

Meanwhile, the Nigeria Labour Congress (NLC) has given the Tinubu administration a seven-day deadline to rescind “all anti-poor” measures, including the increase in petrol prices.

The labor union rejected the incoming administration’s palliative and vowed to launch a nationwide protest on Wednesday, August 2, 2023, if the Federal Government did not act.