President Bola Tinubu declared on Thursday that his administration’s economic reforms saved Nigeria from bankruptcy while accusing previous governments of decades of fiscal irresponsibility.
“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,” Tinubu said during a meeting with former National Assembly members from the aborted Third Republic at the State House in Abuja.
Tinubu, who served as a Senator representing Lagos West during the Third Republic, said his administration faced serious challenges upon taking office from the Muhammadu Buhari government.
“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,” said the president.
Tinubu, however, expressed optimism about the country’s economic trajectory, claiming that his administration has established a solid foundation for recovery.
“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,” he said.
Tinubu added, “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, freedom and the right to aspire to the highest office in the land. I am benefiting from it.”
The delegation was led by Senator Emmanuel Chiedoziem Nwaka, who praised the administration’s initiatives, including the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP).
“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 benefitted 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,” he said.
Other members of the delegation were Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo and Hon. Eze Nwauwa.
