President Bola Tinubu has reiterated that the primary objective behind his administration’s economic reforms is to safeguard the interests of future generations. Speaking at the State House during a meeting with a delegation of former National Assembly colleagues from the aborted Third Republic, Tinubu reflected on the challenges that led to the current economic changes.
“For the past 50 years, Nigeria has been spending the resources of future generations, while subsidizing fuel for the West Coast of Africa. This made it increasingly difficult to plan for the future of our children,” Tinubu stated.
The president also detailed the significant challenges he faced upon taking office, particularly economic and social difficulties. He acknowledged that without decisive action, Nigeria could have faced bankruptcy. However, he expressed gratitude for the collective support of Nigerians in overcoming these obstacles, adding, “Today, we are sitting on a good foundation. The exchange rate is stabilizing, and food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”
Tinubu emphasized that his administration’s actions were necessary to prevent an economic collapse and that firm adherence to democratic principles remains the best route to economic, social, and political development. He also thanked the delegation for their continued faith in democracy, noting, “Some leadership failed, but we kept the faith with our democratic beliefs and freedom.”
Senator Emmanuel Nwaka, speaking on behalf of the delegation, expressed appreciation for the government’s initiatives such as the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP). He highlighted the positive impact these programs have had, particularly for students and young Nigerians seeking financial independence, by providing affordable access to credit for education, housing, and other life goals.
Other members of the delegation included Senator Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo, and Hon. Eze Nwauwa.
(NAN)