- Presidency Gives Breakdown of Revenue Use Under Tinubu Govt
- Dare highlighted that a key component of Tinubu’s spending plan
- Another area receiving major attention is transport and road infrastructure
The Presidency has outlined how President Bola Ahmed Tinubu’s administration is using Nigeria’s revenue to fund various development projects nationwide, referring to the effort as part of its Renewed Hope strategic spending.
Eko Hot Blog reports that in a post on his personal X account on Saturday, the President’s Special Adviser on Media and Communications, Sunday Dare, detailed how national revenue is being effectively utilized across multiple sectors for the benefit of citizens.
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This clarification comes amid growing public interest in the administration’s economic reforms and opposition concerns over the country’s debt profile.
Dare highlighted that a key component of Tinubu’s spending plan is the presidential loan and grant initiative, aimed at supporting over 900,000 small-scale businesses, including nano enterprises and manufacturers.
He explained that the program is intended to boost grassroots productivity, reduce unemployment, and accelerate poverty reduction by empowering the economic activities of everyday Nigerians.
According to the Presidency, another area receiving major attention is transport and road infrastructure, “Where Tinubu is funding over 440 ongoing projects across the country, including over 2,700 kilometres of superhighways, spanning coastal and inland regions, designed to improve trade, logistics, and national connectivity.
“The roads are part of a broader infrastructure modernisation strategy aimed at supporting agriculture, manufacturing, and commerce.”
By linking key economic corridors, the government hopes to reduce the cost of goods and open up new markets for producers.
Education was also listed as high on the Renewed Hope spending agenda, particularly through the Nigerian Education Loan Fund (NELFUND), saying “approximately 500,000 students across universities and other tertiary institutions are being empowered to access interest-free education financing, helping them focus on their studies without the pressure of immediate repayment.”
The fund is intended to remove financial obstacles that prevent talented but underprivileged students from pursuing higher education. It also aligns with broader objectives of enhancing human capital and increasing the global competitiveness of Nigerian youth.
Another aspect touched on is what Dare described as “a major social welfare milestone with the government’s commitment to implementing the new national minimum wage of N70,000.”
The post stated that the ongoing wage reform is designed to boost the purchasing power of Nigerian workers and enhance household well-being amid inflation and ongoing economic adjustments.
To support this initiative, Dare noted that the federal government is collaborating with state and local governments to ensure that public sector employees at all levels benefit from the wage increase.
The Presidency also expressed hope that the private sector will adopt similar measures, triggering a positive ripple effect throughout the economy.
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