In a powerful statement on Thursday, President Bola Tinubu unveiled the true motivation behind his administration’s economic reforms, explaining that his primary goal was to protect the future of Nigeria’s next generations. According to Tinubu, for over 50 years, Nigeria had been living beyond its means, spending money that belonged to future generations and even subsidizing fuel for the West African region. This unsustainable practice, he said, made it increasingly difficult to plan for the future of the nation’s children.
Speaking at the State House in Abuja, Tinubu made these remarks while hosting a delegation of former National Assembly members from the aborted Third Republic, during which he served as Senator for Lagos West. He reflected on the challenges his administration inherited, particularly the grave economic and social issues, and expressed gratitude for the support his team received in addressing these obstacles.
“Upon taking office, we faced extremely difficult circumstances. Nigeria was on the brink of bankruptcy,” Tinubu said. “If we hadn’t taken decisive action, we would have seen the collapse of our economy.”
Despite the formidable challenges, the President emphasized that his administration had made significant strides in stabilizing the economy. “Today, we are building on a strong foundation. The exchange rate is stabilizing, food prices are coming down, especially during Ramadan, and we’re confident that the country will soon see light at the end of the tunnel,” he assured.
Tinubu also emphasized the importance of sticking to democratic principles for the country’s long-term economic and social development. “I am glad to see you continue to believe in democracy. Some leaders faltered, but we stayed committed to our democratic ideals, and today, I am benefiting from that perseverance.”
Senator Emmanuel Chiedoziem Nwaka, who spoke on behalf of the delegation, expressed appreciation for Tinubu’s recent initiatives, especially the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP), both of which he said were having a transformative impact on the country’s youth. “The student population is the largest demographic in Nigeria, and these programs are making a real difference in their lives. CREDICORP, in particular, is a major tool in fighting corruption by offering young Nigerians opportunities to finance things like cars and homes, even before they start families.”
The delegation, which included prominent figures such as Sen. Bako Aufara Musa and Hon. Terwase Orbunde, strongly supported the ongoing efforts and reforms under President Tinubu’s leadership, hopeful for the brighter future that these changes could bring.
The President’s speech underscored his commitment to securing a prosperous future for Nigeria and its citizens, especially the younger generations.
