President Bola Ahmed Tinubu has revealed the rationale behind his administration’s economic reforms, stating that the primary motive is 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.
The President made these remarks at the State House in Abuja while receiving a delegation of former National Assembly colleagues, according to a press statement by Bayo Onanuga, Special Adviser to the President (Information & Strategy).
President Tinubu highlighted the challenges faced at the beginning of his administration, especially economic and social issues, and expressed gratitude for the delegation’s support.
“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,” he said.
President Tinubu declared that the administration had been able to stem the tide and expressed appreciation to Nigerians for their collective support in turning things around.
“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.
Senator Emmanuel Chiedoziem Nwaka, who spoke on behalf of the group, expressed delight at some of the programmes implemented by the Tinubu administration, particularly 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 benefited from it,” the press statement quoted Senator Nwaka.
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