President Tinubu promised prior to last year's election a regulatory environment to encourage healthy adoption of digital assets, including cryptocurrency
IBTimes NG

President Bola Tinubu has urged the demonstrators to end the "bloodshed," and "create room for dialogue," as Nigeria's planned protests against economic hardship and bad governance entered its fifth day.

During a televised speech Sunday, the president pointed out that many of the protesters were young Nigerians, who wanted a better, more progressive country.

"My dear Nigerians, especially our youth, I have heard you loud and clear. I understand the pain and frustration that drive these protests, and I want to assure you that our government is committed to listening and addressing the concerns of our citizens," the president said, as per the State House's official website.

Tinubu also expressed deep sorrow over the loss of lives in Borno, Jigawa, Kano, Kaduna, and other states, as well as the damage to public facilities and the looting of shops. He noted that the protests, which were supposed to be peaceful, led to huge setbacks, as resources will now be needed to repair the damage.

"I commiserate with the families and relations of those who have died in the protests. We must stop further bloodshed, violence and destruction," he said. "As President of this country, I must ensure public order."

"In line with my constitutional oath to protect the lives and property of every citizen, our government will not stand idly by and allow a few with a clear political agenda to tear this nation apart."

Tinubu urged the protesters and organizers to stop any further demonstrations and make way for dialogue, emphasizing that Nigeria needs everyone -- regardless of age, party, tribe, or religion -- to work together to shape the nation's future.

The president warned those who were using the situation to make threats or promote ethnic division will face legal repercussions.

He also stressed that democracy thrived when everyone's constitutional rights are respected and protected. Law enforcement agencies should continue to protect the lives and property of innocent people responsibly, Tinubu mentioned.

For many years, Nigeria's economy has struggled and declined due to various issues that have slowed down the growth. Just over a year ago, President Tinubu took over the office and pointed out that temporary fixes were no longer sufficient for long-term problems affecting the country's future.

The president said he made the tough, but necessary, decision to remove fuel subsidies and eliminate multiple foreign exchange systems. These changes were needed to remove obstacles that were holding back Nigeria's economic development and progress.

However, these moves led to an increase in fuel and food prices across the nation, which made the youth protest against the government.

Despite the hardship Nigerians were facing, the Catholic Bishops of the Ibadan Ecclesiastical Province told the youth that protests could not solve problems, but stressed the officials to start addressing their problems quickly and effectively.