President Bola Tinubu says his administration is taking appropriate measures to reduce the cost of living.

The President said this in his Independence Day broadcast on Tuesday.

“The central concern of our people today is the high cost of living, especially food costs. This concern is shared by many around the globe as prices and the cost of living continue to rise worldwide.

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

He commended the governors of Kebbi, Niger, Jigawa, Kwara, Nasarawa, and the Southwest governors that had embraced the agricultural production programme of his administration.

“I urge other states to join the Federal Government in investing in mechanised farming. We are playing our part by supplying fertiliser and making tractors and other farm equipment available.

“Last week, the Federal Executive Council approved establishing a local assembly plant for 2,000 John Deere tractors, combine harvesters, disc riders, bottom ploughs and other farm equipment. The plant has a completion time of six months,” he said.

He added that the energy transition programme being implemented by his government was on course.

“We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players.

“The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation.

“Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion,” he said.