Friday, March 14, 2025 - President Bola Tinubu says Nigeria would have become bankrupt if his administration had not acted when he came into power in May 2023.
According to him, for many years, Nigeria was
spending the money of generations yet unborn and at the same time supplying
fuel to the West Coast region.
He stated this when he spoke at the State House in
Abuja while receiving a delegation of former National Assembly colleagues from
the aborted Third Republic, during which he served as a Senator representing
Lagos West.
“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,
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. President Tinubu declared that the administration
had been able to stem the tide and expressed appreciation to Nigerians for
their collective support in turning things around.
Today, we are sitting
pretty on a good foundation. We have reversed the problem; the Exchange rate is
stabilising. Food prices are coming down, especially during Ramadan. We will
have light at the end of the tunnel.”
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