President Bola Tinubu has reaffirmed his administration’s commitment to economic reforms, emphasizing that these tough but necessary decisions are aimed at securing Nigeria’s future and preventing financial ruin.
“For 50 years, Nigeria was spending the money of generations yet unborn while subsidizing fuel across West Africa. It became impossible to plan for our children’s future,” Tinubu stated while addressing former colleagues from the aborted Third Republic at the State House.
Avoiding Economic Collapse
Reflecting on the challenges he faced upon assuming office, the President noted that Nigeria was on the brink of bankruptcy before his administration intervened.
“When I took over, the country was facing serious economic headwinds. Without immediate action, the economy would have collapsed. But today, we have reversed the problem.”
He pointed to recent economic stability, citing a more stable exchange rate and falling food prices, particularly during Ramadan, as signs of progress.
Commitment to Democracy and Development
Tinubu emphasized that democratic principles remain key to economic, social, and political progress, acknowledging the unwavering belief in democracy among his former colleagues.
“Some leaders lost their way, but we held on to our democratic beliefs and our right to aspire. I am a beneficiary of that,” he remarked.
Support for Education and Consumer Credit
Speaking on behalf of the delegation, Sen. Emmanuel Nwaka praised Tinubu’s administration for introducing initiatives such as the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP).
“Students are benefiting from the education loan fund, and CREDICORP is a game-changer. Young Nigerians can now access loans for cars and homes, reducing the pressure to accumulate wealth through corrupt means,” Nwaka said.
The delegation included Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo, and Hon. Eze Nwauwa, all of whom expressed their support for the President’s ongoing reforms.
