President Bola Ahmed Tinubu says his administration has prevented the problem of economic collapse and averted bankruptcy in Nigeria by implementing critical economic reforms.
President Tinubu stated this on Thursday
at the State House in Abuja when he received a delegation of former National Assembly colleagues from the aborted Third Republic, during which he served as a Senator representing Lagos West.
He emphasised that “firm adherence to democratic tenets is the best route to economic, social, and political development.”
Expressing appreciation to Nigerians for their collective support in turning things around, the President articulated the rationale behind his administration’s economic reforms, saying “the primary motive was to protect the interests of future generations.”
“For 50 years, Nigeria was spending money of generations yet unborn and servicing the West coast of our subregion with fuel. It was getting difficult to plan for our children’s future,” he said.
A statement signed by the Presidential Spokesperson, Mr Bayo Onanuga, said that the President highlighted the challenges faced at the onset of his administration, especially economic and social issues, and expressed his gratitude for the delegation’s support in addressing the difficulties.
He said; “We faced serious headwinds when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse.
“Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”
“I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball.
“Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefitting from it,” President Tinubu explained.
Senator Emmanuel Chiedoziem Nwaka, who spoke on behalf of the group, lauded some of the administration’s programmes that the President has implemented, especially the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP).
Nwaka commended the initiatives and the results the two organisations were offering Nigerians.
He said; “I appreciate you for what you are giving to students because the student population is the largest demographic in the country. I’ve spoken with many of them, and many have benefited from it.
“And the next one is the CREDICORP. That’s a major way of fighting corruption. You see a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done. I’m following their activities; we are delighted.”
Other members of the delegation were Sen. Bako Aufara Musa, Terwase Orbunde, Hon. Wasiu Logun, Amina Aliyu, High Chief Obi Anoliefo and Eze Nwauwa.
Mercy Chukwudiebere
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