Top 5 Stories Of The Day | President Bola Tinubu Addresses Nigerians on Independence Day

• President Bola Tinubu addresses Nigerians on Independence Day
• Atiku approaches National Assembly to request an increase in presidential tenure to six years
• FG increases retirees’ pension by ₦32k
• Lagos State impounds 241 unlicensed vehicles
• World Bank approves of new ₦2.4 trillion loan for Nigeria

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

President Bola Tinubu addresses Nigerians on Independence Day

President Bola Ahmed Tinubu addressed Nigerians on Independence Day, stating that he had heard of their concerns and the federal government is working tirelessly to ensure that the cost of living, particularly food costs, is reduced and affordable for Nigerians.

“My fellow Nigerians, please be assured that we are implementing many measures to reduce the cost of living at home,” he said.

He extended praises to Northern states’ governors, who have all taken to farming to boost the agriculture and quantity of available food in the country while also imploring other governors to embrace mechanised agriculture to reduce food costs in Nigeria.

Atiku approaches National Assembly to request an increase in presidential tenure to six years

Former Vice President and 2023 Presidential candidate Atiku Abubakar has submitted a petition to the National Assembly, requesting that they amend the constitution and approve a six-year single term of office for the President and state governors.

The memorandum received by the National Assembly also added that the presidency should be rotated between Nigeria’s North and South regions to ensure that nearly every tribe is equally represented in power.

Atiku’s demand for a six-year single-term tenure comes after several other influential voices, such as former president Olusegun Obasanjo, also made similar demands of the National Assembly.

FG increases retirees’ pension by ₦32k

The federal government has increased the pension fees of all retirees by adding. ₦32,000 due to the committee review of the national minimum wage.

Following the review result, retirees will now be eligible for a ₦32,000 increment on their pension. The retirees in question fall under salary schedules like doctors, police officers, armed forces, paramilitary, lecturers, and health workers.

President Bola Tinubu signed the new minimum wage into law on July 29 after the consequent meeting with the NLC and TUC, raising the salary to ₦70,000 from ₦33,000. The increment in retirees’ pensions is a byproduct of the minimum wage increase.

Lagos State impounds 241 unlicensed vehicles

The Lagos State Government has impounded 241 unlicensed vehicles in a restrictive move against unlicensed vehicles roaming the streets of Lagos.

The Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, stressed that motorists have been warned against driving unregistered vehicles as they obstruct law enforcement agencies’ jobs that track stolen and missing vehicles.

Osiyemi quoted section 16 of the TSRL 2018, which stated that anyone found driving an unregistered vehicle is liable to face a legal punishment.

World Bank approves of new ₦2.4 trillion loan for Nigeria

The World Bank has approved a ₦2.4 trillion ($1.57 billion) loan for Nigeria to enhance human capital in Nigeria through improved healthcare for women, children and adolescents.

The Bank stated that the loan will also aid in reducing the impact of climate change in Nigeria via repairing and improving dams and irrigation.

“The new financing includes $500 million for addressing governance issues that constrain the delivery of education and health (HOPE-GOV), $570 million for the Primary Healthcare Provision Strengthening Program (HOPE-PHC) and $500 million for the Sustainable Power and Irrigation for Nigeria Project (SPIN),” the World Bank revealed.