Nigeria Would’ve Been Broke Without Our Reforms – Tinubu

President Bola Tinubu has defended his administration’s economic policies, stating that Nigeria would have faced financial collapse without decisive actions.

Nigerian President Bola Tinubu has clarified the reasoning behind his government’s economic reforms, stating that safeguarding the interests of future generations was the main goal.

A statement from spokesman Bayo Onanuga mentioned that the president addressed a delegation of former National Assembly colleagues on Thursday at the State House in Abuja. These colleagues were part of the defunct Third Republic, during which he served as a Senator for Lagos West.

The president stated that for five decades, Nigeria has been using resources intended for future generations and supplying fuel to the West Coast of its subregion. He added that this situation is making it increasingly challenging to plan for the future of Nigerian children.

He emphasized the challenges encountered at the start of his administration, notably in economic and social areas, and expressed gratitude for the delegation’s assistance in tackling these issues.

Tinubu announced that the administration had successfully managed to control the situation and expressed gratitude to Nigerians for their collective effort in making a positive change.

When I took over, we encountered significant challenges and tough times. Without our decisive actions, Nigeria was on the brink of bankruptcy and it was crucial to avert an economic collapse.

“Today, we are in a strong position with a solid foundation. We have turned the situation around; the exchange rate is stabilizing and food prices are decreasing, particularly during Ramadan. There is hope on the horizon,” he stated.

He emphasized once again that steadfast commitment to democratic principles is the most effective path toward economic, social, and political advancement.

“I’m grateful that you continue to uphold your belief in democracy. Thank you for having faith and remembering our beginnings. While some missed the mark and certain leadership faltered, we remained committed to our democratic values, freedom, and the right to aspire to the highest offices of this nation. This is something from which I am benefiting,” Tinubu noted.