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Nigerian economy: Worst days are over, Pres. Tinubu assures

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President Bola Tinubu has assured Nigerians that the worst days are over for the economy, just as he promised that his administration will continue to take steps to deliver the dividends of democracy.

Tinubu also accused governors of impeding the development of the local government, which is the third tier of government.

He spoke when he received a delegation of the Yoruba Leaders of Thought at the State House, Abuja.

In a statement issued by his media adviser, Ajuri Ngelale, Tinubu emphasized that governance must be transformative and must address the critical needs of citizens.

He said: “It has been challenging. It has been fulfilling as well. We took over, and we have stopped the bleeding. I can say categorically now that Nigeria is no longer bleeding.

“And it will not bleed to death, but rather will now move to prosperity. That is the promise that I made to you all, and it is also the charge that you gave me.

“We are managing to swim through the pond. The current is not a good one. We will turn the tide. We are turning the bend. This, I assure you. I am being very careful. The worst is over for Nigeria. We will prevail.

“I thank the team, who have been working really hard. All I can promise is that we will do whatever it takes. We are determined, and we will work so that all Nigerians can feel the impact of good governance.”

Tinubu also called for a more effective local government system that fosters community development and delivers the essentials of governance within a strengthened federal structure.

Tinubu said:“Local government administration is being suffocated. People are looking at the opportunity to ensure that they survive and become more purposeful through community development programmes.

“What I will not support is any effort to make the local government a unitary system by handing all core responsibilities to the federal government. That is criminal when there is a federal system.

“We have a federal system. There is state and federal administration. States must do whatever is in the best interest of their own process of administration. There is no one-size-fits-all. That is what we should do by looking at the revenue formula and we must be consistent with federalism—fiscal federalism.

“Those are the things you should expect from me, not the knee-jerk reactions ahead of elections. Our population is growing. It is getting larger. The geographical requirement is getting bigger, so we still want more space for housing. The population is growing. So that is the basis for flexibility at the local government level. We must grow and expand.

“Healthcare upgradation is ongoing. Road rehabilitation and construction is ongoing. Education development is ongoing. I am charging you to look at what is going on in the States.

“Pay attention to your state governors. Tell them to take their responsibilities seriously and make the people the focus of their development plans. Once there is synergy, then I can assure you that Nigeria will be one of the best nations that you will see anywhere on earth.

“We will get value for our money, and it is not for ourselves but for our children. Our children will not inherit the burden of bad governance. Yet, they will enjoy the prosperity of Nigeria as a blessed nation from our very hands from our sweat. We will bequeath to them a nation full of pride and prosperity.

“I can tell you that Nigeria is no longer printing paper money and deceiving itself that it has a base for survival. Nigeria went through terrible labour pains, but we have seen the baby coming out alive.”

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