By Anwar Usman
The President of Nigeria, Bola Tinubu, on Wednesday stated that his administration has disbursed N330 billion to eight million households under the Federal Government’s social investment programme, designed to support poor families and vulnerable Nigerians.
The president disclosed this in his 65th Independence Day broadcast, noting that the disbursement was part of his administration’s resolve to cushion the impact of economic reforms on the most disadvantaged groups.
He noted that many of the beneficiaries had already received one or two out of the three tranches of N25,000 each.
“Under the social investment programme to support poor households and vulnerable Nigerians, N330 billion has been disbursed to eight million households, many of whom have received either one or two out of the three tranches of the N25,000 each,” Tinubu said.
The President further admitted that Nigeria had for many years failed to make critical investments in infrastructure, power, and public services, leaving a heavy burden on the present generation.
“Fellow Nigerians, we are racing against time. We must build the roads we need, repair the ones that have become decrepit, and construct the schools our children will attend and the hospitals that will care for our people,” he said.
According to him, the neglect of the past has resulted in poor electricity supply, crumbling roads, and a lack of modern facilities that can compete globally.
He further stated, “We have to plan for the generations that will come after us. We do not have enough electricity to power our industries and homes today, or the resources to repair our deteriorating roads, build seaports, railroads, and international airports comparable to the best in the world, because we failed to make the necessary investments decades ago. Our administration is setting things right”.
The President assured Nigerians that his government was already implementing corrective measures to reverse the country’s decline in infrastructure and the economy.
He praised Nigerians for their resilience in enduring tough times, pledging not to betray the trust that had been reposed in him.