President Bola Tinubu has revealed the motivation behind his administration’s efforts to recover Nigeria’s squandered wealth through strategic economic reforms to safeguard 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 saidm
The President’s comments came during a meeting with former National Assembly colleagues from the aborted third Republic at the State House in Abuja on Thursday.
Tinubu reflected on the daunting challenges faced by his administration, particularly economic and social issues, and expressed gratitude for the delegation’s support in addressing these difficulties.
“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,” Tinubu said.
Despite these obstacles, the President declared that his administration has made significant strides in stabilizing the economy.
“Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilizing. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”
He also underscored the importance of adhering to democratic principles as the key to achieving economic, social, and political development.
Sen. Emmanuel Nwaka, who spoke on behalf of the delegation, praised the Tinubu administration’s initiatives, particularly the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP).
“I appreciate you for what you are giving to students… I have spoken with many of them, and many have benefited from it,” Nwaka said.
Nwaka also commended the CREDICORP initiative, describing it as a significant step in combating corruption.
“You see a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done,” he said.
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