President Bola Tinubu has explained the rationale behind his administration’s economic reforms, emphasizing that the primary goal is to safeguard the future of coming generations.
Speaking at the State House in Abuja while hosting a delegation of former National Assembly members from the aborted Third Republic, in which he served as a Senator representing Lagos West, the President stated, “For 50 years, Nigeria was spending the money of future generations and subsidizing fuel for the West Coast of our subregion. It was becoming increasingly difficult to plan for the future of our children.”
Tinubu reflected on the challenges his administration faced, particularly the economic and social issues, and expressed gratitude to the delegation for their support in navigating these obstacles.
“We faced significant challenges when I assumed office. Nigeria would have gone bankrupt if we had not taken decisive action. We had to prevent the collapse of the economy,” Tinubu remarked. He assured that the administration had managed to stem the tide, expressing his gratitude to Nigerians for their collective support in turning the situation around.
“Today, we are on a solid foundation. We have reversed the crisis. The exchange rate is stabilizing, and food prices are gradually decreasing, especially during Ramadan. We are moving towards brighter days,” he added.
The President reiterated that a firm commitment to democratic principles is the best path to achieving sustained economic, social, and political development.
