FG To Spend N275bn On Manufacturing, MSMEs- Tinubu

President Bola Tinubu has approved the release of over N275 billion for the immediate resuscitation of the manufacturing and the Micro, Small and Medium-sized enterprises (MSME).

In a nationwide broadcast to the nation on Monday, Tinubu said that was part of the Federal Government efforts to cushion the effects of the removal of fuel subsidy on Nigeria and its people.

Naira from the petrol subsidy removal which would be used to further develop different socio-economic sectors in the country.

‘’In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters.

‘’That money will now be used more directly and more beneficially for you and your families. For example, we shall fulfill our promise to make education more affordable to all and loans to students who may need them.

‘’No Nigerian student will have to abandon higher education because of lack of money. Our commitment is to promote the greatest good for the greatest number of our people. On this principle, we shall never falter.

‘’We are also monitoring the effects of the exchange rate and inflation on gasoline prices. If and when necessary, we will intervene.

‘’I assure you my fellow country men and women that we are exiting the darkness to enter a new and glorious dawn,’’ Tinubu said.