President BOLA TINUBU has said, the Federal Government has released 570 billion naira to the 36 states to expand livelihood support to their citizens following widespread clamors against hunger and hardship in the country.

President TINUBU while addressing the country also disclosed that 9.1 trillion naira was accumulated as total fiscal revenue to the Federal Government’s coffers during the first half of 2024, marking a significant increase from what was earned by the previous administration.

The President explained that the country has cleared legitimate outstanding foreign exchange obligations of about 5 billion naira without any adverse impact on ongoing program.

According to the President, the debt reduction has provided the country with greater financial freedom, allowing for increased spending on essential social services such as education and healthcare.

Despite Nigeria’s abundant oil and gas resources, he noted that his administration met a country that was not only dependent only on oil, but also neglected its gas resources while subsidizing the cost of fuel.

This he said, informed he his administration’s investment in Compressed Natural Gas.