In a New Year message delivered in Lagos, President Bola Tinubu emphasized the critical importance of a consistent power supply for meaningful economic transformation in the country. He expressed his administration's commitment to ensuring that every Nigerian feels the impact of their government, particularly focusing on the economic well-being of the poor, vulnerable, and working people. Tinubu announced plans to implement a new national living wage for workers, citing both economic and moral imperatives for this decision.

Highlighting the groundwork laid for economic recovery in the previous seven months, Tinubu pledged to accelerate service delivery across various sectors. He underscored the priority placed on stable electricity supply, recognizing its indispensable role in sustainable development. Additionally, he outlined initiatives aimed at boosting food supply and local production of petroleum products, including commitments made during COP28 in Dubai to expedite the Siemens Energy power project under the Presidential Power Initiative.

Tinubu emphasized ongoing power installation projects to enhance the reliability of transmission lines and strengthen the national grid. He stressed the administration's recognition that steady electricity supply is fundamental to meaningful economic transformation. Furthermore, he outlined plans to advance local refining of petroleum products and expand farmland cultivation to ensure constant food supply, security, and affordability.

The president also articulated his commitment to streamlining fiscal and tax policies to create a conducive business environment. He reiterated his consistent message to investors and businesspeople about Nigeria being ready and open for business. Tinubu pledged to address obstacles to business competitiveness and facilitate local and foreign investments, emphasizing his determination to make Nigeria a preferred destination for investment.

In his 2024 Budget presentation to the National Assembly, Tinubu outlined eight priority areas, including national defence and internal security, job creation, macro-economic stability, investment environment optimization, human capital development, poverty reduction, and social security. He emphasized the administration's dedication to achieving its governance objectives, reflecting this commitment in the 2024 budget.

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