… says 'for 50 years, we spend money from generations but innate'
President Bola Tinubu justified the broad economic reforms of his administration, stating that they were necessary to safeguard Nigeria's future and avoid financial ruin.
He stressed that for decades, the country had been living beyond its means, spending resources for future generations.
“For 50 years, Nigeria was spending the money from generations but not born and attending the west coast of our subregion with fuel. It was becoming difficult to plan for the future of our children, ”said Tinubu on Thursday while receiving a delegation from former colleagues from the National Assembly of the Third Aborted Republic in the Presidential Villa in Abuja.
The president recognized the economic and social turbulence that accompanied the first days of his administration, but said that the difficult decisions made were inevitable.
“We face serious winds against when I took charge, very challenging times. Nigeria would have been in bankruptcy if we had not taken the actions we took, and we had to avoid the collapse of the economy, ”he said.
Despite the difficulties facing the Nigerians, Tinubu expressed optimism that the country was now in a stronger economic path.
“Today, we are sitting quite on a good base. We have reversed the problem; The exchange rate stabilizes. Food prices are going down, especially during Ramadan. We will have light at the end of the tunnel. “
Beyond economic recovery, Tinubu stressed his administration's commitment to democratic principles, calling them essential for Nigeria's long -term development.
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“I am happy that you are clinging to your belief in democracy. I thank you for maintaining faith and remembering how we start. Some people lost the ball. Some leadership failed, but we kept faith with our democratic beliefs, freedom and the right to aspire to the highest position on Earth. I'm benefiting from that, ”he said.
Speaking on behalf of the delegation, Senator Emmanuel Chiedoziem Nwaka praised Tinubu for introducing initiatives such as the Nigerian Education Loan Fund (Neelfund) and the Nigeria Consumer Credit Corporation (Credicorp), which he described as a transformer.
“I appreciate what students are giving because the student population is the largest demography in the country. Many have benefited from it, ”said Nwaka.
He also praised Credicorp's establishment, saying that it would help to stop corruption by providing Nigerian young people accessing credit for essential purchases.
“You see a young man, school salts, you want to buy a car, you have to leave effective, you want to buy a house and you are not married, but with Credicorp, you can do things. I am following your activities; We are delighted, ”he added.
Other members of the delegation included Senator Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Excmo. Amina Aliyu, the High Chief Obi Anoliefo and the Hon. Eze Nwauwa.