President Bola Tinubu has announced that his administration is implementing appropriate measures to reduce the cost of living.
The President made this statement during his Independence Day broadcast on Tuesday.
“The central concern of our people today is the high cost of living, especially food costs. This concern is shared by many around the globe as prices and the cost of living continue to rise worldwide.
“My fellow Nigerians, be assured that we are implementing many measures to reduce the cost of living here at home,” said the President.
He commended the governors of Kebbi, Niger, Jigawa, Kwara, Nasarawa, and the Southwest governors for embracing his administration’s agricultural production programme.
“I urge other states to join the Federal Government in investing in mechanised farming. We are playing our part by supplying fertiliser and making tractors and other farm equipment available.
“Last week, the Federal Executive Council approved the establishment of a local assembly plant for 2,000 John Deere tractors, combine harvesters, disc riders, bottom ploughs, and other farm equipment. The plant is expected to be completed in six months,” he said.
He added that the energy transition programme being implemented by his government is on course.
“We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players.
“The Federal Government is ready to continue investing in initiatives that will ensure a sustainable future for our agricultural sector and the economy at large.”