President Bola Tinubu has claimed that Nigeria would have plunged into bankruptcy had his administration not taken decisive steps upon assuming office.
Speaking at the State House in Abuja while receiving former National Assembly colleagues from the aborted Third Republic, Tinubu reflected on the economic turmoil he inherited and the urgent measures taken to prevent collapse.
“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,” Tinubu stated.
The president reassured Nigerians that the economy is now on a stronger footing.
“Today, we are sitting on a solid foundation. The exchange rate is stabilizing, food prices are coming down, and during Ramadan, we have seen some relief. There is light at the end of the tunnel,” he declared.
Tinubu also underscored the importance of democracy in fostering economic and political progress, thanking his former colleagues for their commitment to democratic values.
His statement comes as his government pushes forward with economic reforms aimed at stabilizing the naira, curbing inflation, and strengthening national finances.
