Food prices have more than doubled since President Tinubu last year announced the removal of petrol subsidies and the floating of the naira.
The Federal Executive Council (FEC) on Monday discussed the planned nationwide protest and resolved that there was no need for the protest, an official said.
Information Minister Mohammed Idris, who briefed journalists after the meeting, said, "It is the view of the government that there is really no need for the protests again because most of those things that the protesters are putting forward are already actually being addressed."
Mr Mohammed itemised actions the Tinubu administration has taken to reduce the negative impact of government policies on Nigerians. These include food distribution, implementation of student loans, and sale of food at subsidised prices.
Young Nigerians had fixed 1 August to commence a 10-day nationwide protest to demand reversal of some government policies that have led Nigeria to its worst cost of living crisis in a generation.
Food prices have more than doubled since President Tinubu last year announced the removal of petrol subsidies and the floating of the naira.
In his speech on Monday, Mr Idris also restated the government's belief that the protest could be hijacked by persons who want to cause anarchy in the system.
Read the full transcription of the minister's address to journalists below.
Yes, it came up. And the position of the FEC is that most of the demands that the protesters are making are actually being addressed by the federal government and therefore, it is the view of the government that there is really no need for the protests again because most of those things that the protesters are putting forward are already actually being addressed or are being addressed by government and like we have said repeatedly, this is a listening government. The president has listened to the voices of all those who are planning this protest. And the message is that there is no need for it.
Indeed, the president is already protesting on their behalf by doing those things that they want the government to do. For example, the effort that government is making, in ensuring that food is being made available. The last council meeting, here at the briefing, we announced that a number of trucks, 20 precisely, had been given to the state governors for onward distribution to those who are actually in need of them, to the poorest of the poor in society and those who are actually in need. But the government did not stop. There is also rice that is being sold at about 50 per cent of its cost, a bag of rice is being sold as we speak now. These rice have been taken to various centres across all the states of the federation and are being sold at 40,000 naira. Centres have been created. So that those who need this rice can go there and buy this rice at 40,000 naira
In the first instance, about 10 trucks have been made available to each of these states; and indeed, this is just the beginning. I know that some of the comments you hear is that it is never enough. Government has not pretended that these supplies are indeed enough. But these are necessary first steps that are being made and more of such interventions are being made in the interim. Of course, this is, like I said, an interim measure because there is so much investment that is going into the agricultural sector. And the rainy season is here. We expect that the prices of food items will come down as investments are also being made not just for the traditional...... agricultural produce, but also for the irrigation activities in many of these states in the federation. So we expect that as we move forward, prices of food items, commodities will of course, come down.
These are part of the measures and the president feels, and the federal executive council believes, that already some of the youth that want to protest, some of the answers that they are looking for, are already actually being provided. For example, only recently, the federal government begun the disbursement of the students loans. There's a provision already for over 2 million students.
Only about 110,000 applications have thus far been received as of last week, of course, more are going to come. So there's adequate provision for all those who are qualified, who can access these loans and who have fulfilled this condition. The desire of Mr President is that no student, no young person that has gained admission into any of our tertiary institutions, will be left out because his parents or his guardian is unable to pay for his fees.
But beyond that, there is also the provision that is being made for these young people. We are aware of the effort that is being made to ensure that about 3 million of them are being put into employment through the MTT program. There is also for the general public the reduction that is envisaged by the time the CNG initiative of the federal government actually takes full course.
Already, some of these buses have been imported. Some of the conversion kits are already available. The conversion centres are already beginning to get active. The delays are largely because you don't just go to the market and get these things off the shelves. First, the procurement processes have to be followed. And then of course you have to place order for them and it is envisaged that as we make the transition from fossil fuel to renewables, there is going to be a reduction of over 60 per cent in the cost that people put in transportation. If you have your car, it is envisaged that you're going to spend about 60 per cent less and that money that comes back to your pocket, but the emphasis at the beginning is going to be on commercial busses, for mass transit, so that workers especially and those who are moving around will have reduction in the fares that they pay. Now this in combination with so many other things that government is doing government is appealing once again, to those who have the intention of embarking on this protest to please think about it once again. There is just no need for that.
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Of course, it is the democratic right of every Nigerian to engage in peaceful protests. And the government is not an opponent to that. But what government is doing is to ensure that while there is this right for you to protest, your right will also end where someone else's own begins. Therefore, while you are thinking of protesting, government is appealing to you to first shelve it because it has the great likelihood that this protest may be hijacked and may turn violent by unscrupulous elements, and Nigeria will not be good for it. Of course, we know that people are saying that there is no intention for violence in this, but our history has shown that there's the possibility that this protest can be hijacked and could turn violent.
Once again, before I open the floor for questions. It is an appeal again that the federal government is making to ensure that government is making an effort to satisfy the demands of Nigerians, in several respects, in health care, in agriculture, in the provision of infrastructure, in ensuring that our youth the young population go to school, and that they can also get employed when they finish and even before they do that.
The social security system is being put out there so that no one is left behind. So all this coming together of course it takes time for it to come full circle but there is this. Please, there is no need for this protest.
