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Highlights from President Buhari’s Independence Day Speech

To mark Nigeria’s 56th Independence Anniversary, President Muhammadu Buhari addressed the nation on Saturday, October 1, 2016. Coincidentally, Nigeria gained independence on Saturday, October 1, 1960 from British colonialists.

Here are 10 highlights from the Speech:

Recession

  1. ‘I know that uppermost in your minds today is the economic crisis. The recession for many individuals and families is real. For some It means not being able to pay school fees, for others it’s not being able to afford the high cost of food (rice and millet) or the high cost of local or international travel, and for many of our young people the recession means joblessness, sometimes after graduating from university or polytechnic.’
  2. ‘I believe that this recession will not last.’

Security

  1. ‘On Security, we have made progress. Boko Haram was defeated by last December – only resorting to cowardly attacks on soft targets, killing innocent men, women and children.’
  2. ‘Nigerians should thank our gallant men of the Armed Forces and Police for rescuing large areas of the country captured by insurgents. Now, residents in Borno, Yobe and Adamawa States, as well as several neighbouring states go about their daily business in relative safety.’

New insurgents

  1. ‘A new insurgency has reared up its head in the shape of blowing up gas and oil pipelines by groups of Niger Delta Militants.’

The weakening naira

  1. ‘The naira is at its weakest, but the situation will stabilize.’

Our refineries

  1. ‘We are to repair our four refineries so that Nigeria can produce most of our petrol requirements locally, pending the coming on stream of new refineries. That way we will save ten billion dollars yearly in importing fuel.’

Cost of importing rice

  1. ‘Rice alone for example costs Nigeria two billion dollars to import.’

An economic forecast

  1. ‘The country should be self-sufficient in basic staples by 2019. Foreign exchange thus saved can go to industrial revival requirements for retooling, essential raw materials and spare parts.’

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