President Bola Tinubu has unveiled some of the main economic directions of his administration for the new year in his nationwide address on Monday. The President, who delivered the New Year speech in Abuja, disclosed that his administration will accelerate the pace of service delivery across different sectors. In his address, the president detailed the goals of his administration for 2024 and expanded on his plans for the socioeconomic well-being of Nigerians. Below are five of the key takeaways from the speech: According to President Tinubu, the primary objectives on his agenda list are ensuring food security and reducing food inflation. The National Bureau of Statistics (NBS) revealed that Nigeria's food inflation is an alarming 31.52%. Meanwhile, the president in his address promised to tackle the rising cost of food items by providing stimulus for farmers to grow agricultural products. The President also noted his administration will reform the tax and fiscal policies to enable a thriving business environment. He added that he will not hesitate to remove any clog hindering local and foreign investment in the country. He said, The President also affirmed his commitment to increase the living wage of workers in the year 2024. According to him, the economic aspirations and the material well-being of the poor, the most vulnerable and the working people shall not be neglected. The President also stated that the the local refineries, the Port Harcourt refinery as well as the privately-owned Dangote refinery will begin operation this year. He said that the quest to restart all state-owned refineries is part of his administration's agenda for the year. "In 2024, we are moving a step further in our quest to restart local refining of petroleum products with Port Harcourt Refinery, and the Dangote Refinery which shall fully come on stream," he noted.