The broadcast’s agenda is not yet known as of press time, although it may be related to the severe economic suffering being suffered by Nigerians as a result of the elimination of the petrol subsidy.
President Bola Tinubu will address Nigerians today (Monday) at 7 p.m., according to his spokesman, Dele Alake.
“Television, radio stations, and other electronic media outlets are urged to connect to the Nigerian Television Authority and Radio Nigeria network services for the broadcast,” Alake stated.
The broadcast’s agenda is not yet known as of press time, however it may be related to the economic suffering being felt by Nigerians as a result of the elimination of subsidies on Premium Motor Spirit (PMS), also known as fuel.
There appeared to be no respite for Nigerians as President Bola Tinubu announced the withdrawal 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 stuck individuals.
In mid-July, Nigeria’s headline inflation climbed to 22.79% in June from 22.41% in May 2023, owing to surging food prices and rising transport costs caused by the loss of fuel subsidies.
The extraordinary 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 subsidised 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 scheme.
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 labour union rejected the incoming administration’s palliative and vowed to launch a countrywide protest on Wednesday, August 2, 2023, if the Federal Government did not act.
