LIVE UPDATES
ABUJA, Nigeria - President Bola Tinubu emphasizes that the purpose of his administration's economic reforms is to safeguard the interests of future generations. He stated, “For 50 years, Nigeria has been spending the resources of generations yet unborn while providing fuel for our West Coast neighbors.
Planning for our children’s future became increasingly difficult.” These comments were made at the State House when he welcomed a group of former National Assembly colleagues from the discontinued Third Republic, in which he served as a Senator for Lagos West.
The President pointed out the difficulties encountered at the onset of his administration, particularly regarding economic and social challenges, and expressed gratitude for the support from the delegation in overcoming these issues.
“We encountered significant challenges when I assumed office. The situation was very tough. Nigeria would have faced bankruptcy had we not taken decisive actions to prevent an economic collapse,” he noted.
President Tinubu asserted that his administration has managed to reverse the negative trends and thanked Nigerians for their collective effort in improving the situation. “Today, we are comfortably positioned on a solid foundation. We have addressed the issues; the exchange rate is stabilizing. Food prices are decreasing, especially during Ramadan. There is hope for a brighter future,” he remarked.
He stressed that steadfast commitment to democratic principles is vital for economic, social, and political progress. “I am pleased you continue to uphold your faith in democracy. I appreciate you for your steadfastness and for recalling our beginnings. Some individuals have strayed from our path. Certain leadership faltered, but we persevered with our democratic ideals, chanting freedom and the right to aspire to the highest office. I am reaping the benefits,” stated Tinubu.
Senator Emmanuel Nwaka, speaking on behalf of the group, expressed satisfaction with some initiatives launched by the Tinubu administration, particularly the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP).
“I commend you for what you are providing for students, as they represent the largest demographic in our nation. I have spoken to many, and numerous have benefitted. The next initiative, CREDICORP, is a key strategy against corruption. A recent graduate looking to purchase a car or a house without funds would find it challenging; however, CREDICORP facilitates that process. I am closely monitoring their progress, and we are thrilled," he conveyed.
Other members of the delegation included Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo, and Hon. Eze Nwauwa.
