 Good afternoon. I am Destiny Mama. This is news brief. President Ballatino Buu on Monday said the federal government of Nigeria has saved one trillion Naira in the two months since the removal of the petrol subsidy. General Buu said these monies that would have been otherwise squandered by those he called smugglers and fraudsters will now be channeled into intervention programs targeting families nationwide. He said this during a nationwide address on Monday evening. Our national wealth was doled out on favorable terms to a handful of people who had been made filthy rich simply by moving money from one hand to another. These two was extremely unfair and it's not acceptable. It's also compounded the threat that elicit a mass accumulation of money posed to the future of our democratic system and its economy. I had promised to reform the economy for the long time good by fighting major imbalances that has plagued our economy. Ending the subsidy and the preferential exchange rate system were key to this fight. This fight is to define the fate and future of our nation. Much is in balance. Those defect in our economy immensely prevented a tiny elite, the elite of the elite you might call them. As we move to fight the flaws in the economy, the people who grow rich from them predictably will fight back through every means necessary. We are ready. Our economy is going through a tough patch and you are being hurt by it. I know. Because of where it has gone up, food and other prices have followed it. Households and businesses is struggling. Things seems anxious and uncertain. I understand the hardship you face. I wish there were other ways but there's not. If there were, I would have taken that route as I came here to help not to hurt the people and the nation that I love so dearly. On pay review, he said his government is working in collaboration with the labor unions to introduce a new national minimum wage for workers. Your salary review is coming. Once we agree on the minimum wage and general upward review, we will make budget provision for it for immediate implementation. I want to use this opportunity to salute many private employers in the organized private sector who have already implemented general salary review for employees. Fellow Nigerians, this period may be hard on us and there is no doubt that it's tough on us. But I urge you all to look beyond the present temporary pains and aim at the larger picture. All our good and helpful plans are in the works. More importantly, I know that they will work. Jennifer also announces a 75 billion naira palliative for the manufacturing sector. As he says, 75 businesses will benefit within a nine month period spanning the third quarter of 2023 to the first quarter of next year. Our objective is to fund minimum of 75 enterprises with great potential to kickstart a sustainable economic growth, accelerate structural transformation and improve productivity. Each of these 75 manufacturing enterprises will be able to assess 1 billion credit at maximum of 9% per annum with maximum of 60 months repayment for long-term loans and 12 months for working capital. Hello, hope you enjoyed the news. Please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.