On this solemn yet hopeful day, let us commend our founding fathers and mothers. Without them, there would be no modern Nigeria. From the fading embers of colonialism, their activism, dedication and leadership gave life to the belief in Nigeria as a sovereign and independent nation.
This year, we passed a significant milestone in our journey to a better Nigeria. By democratically electing a 7th consecutive civilian government, Nigeria has proven that commitment to democracy and the rule of law remains our guiding light. Reform may be painful, but it is what greatness and the future require. We now carry the costs of reaching a future Nigeria where the abundance and fruits of the nation are fairly shared among all, not hoarded by a select and greedy few. A Nigeria where hunger, poverty and hardship are pushed into the shadows of an ever fading past.
Based on our talks with labour, business and other stakeholders, we are introducing a provisional wage increment to enhance the federal minimum wage without causing undue inflation. For the next six months, the average low-grade worker shall receive an additional Twenty-Five Thousand naira per month.
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.
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