The Presidency has revealed how the President Bola Ahmed Tinubu-led federal government is utilising Nigeria’s revenue for various projects across the country, describing It as a Renewed Hope strategic spending.

The Special Adviser on Media and Communications to the President, Sunday Dare, gave a breakdown of the spending in a post via his personal X account on Saturday, saying the country’s revenue under Tinubu is being put to good use in several areas for the benefit of Nigerians.

The Presidency’s explanation on Nigeria’s revenue follows growing public interest in the President’s economic reforms and concerns from the opposition leaders on Nigeria’s debt profile under the current administration.

According to Dare, a central highlight of Tinubu’s government spending strategy is the presidential loan and grant scheme, “which targets over 900,000 small-scale enterprises, including nano-businesses and manufacturers.”

He said this Initiative is designed to unlock productivity at the grassroots level, where most Nigerians operate economically, and to significantly reduce unemployment, saying the government believes that supporting these enterprises will lead to faster poverty reduction and more inclusive development.

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.”

It said the fund is designed to eliminate the financial barriers that hinder bright, underprivileged students from accessing higher education. The program also ties into broader goals of improving human capital and boosting youth competitiveness in a global economy.

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 said the wage reform, already in motion, is aimed at increasing the purchasing power of Nigerian workers and improving household welfare in the face of inflation and economic reforms.

To support this, Dare stated that the government is working with states and local governments to ensure that public sector workers across all levels benefit from the wage increase.

The presidency expressed optimism that the private sector will follow suit, creating a multiplier effect on the economy. (Saturday Tribune)