* Tinubu
By Pathfinder Reporter
Friday March 14, 2025
Please, share this story:
President Bola Tinubu on Thursday said he took over a Nigeria that was in the throes of bankruptcy after eight years of his predecessor Muhammadu Buhari.
He said, “Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse,”
Tinubu disclosed this during a meeting with a group of supporters at the State House in Abuja.
Recall that Tinubu had been assailed for the economic hardship faced by Nigerians due to the economic reforms he introduced which included removal of subsidies on essential petroleum products.
Tinubu, an All Progressive Congress (APC) member who won the 2023 presidential election, took over from Muhammadu Buhari, the first politician to be elected president on the platform of APC.
Buhari, who served two terms of four years (2015 to 2023), was accused of almost grounding the country’s economy before Tinubu took over.
Though during his last days in office, Buhari praised himself saying he had turned the nation’s socio-economic conditions around during his tenure.
A State House press release said the president sought to assuage citizens that conditions would continue to improve after inflation showed signs of cooling in recent months.
Read the full press statement as issued by the president’s spokesman Bayo Onanuga below:
President Bola Ahmed Tinubu articulated on Thursday the rationale behind his administration’s economic reforms, saying the primary motive was protecting the interests of future generations.
.
“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,” he said.
He made these remarks 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.
The President highlighted the challenges faced at the beginning of his administration, especially economic and social issues, and expressed his gratitude for the delegation’s support in addressing these difficulties:
“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 stabilizing. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”
He said firm adherence to democratic tenets is the best route to economic, social, and political development.
“I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball.
“Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefitting from it.”
Senator Emmanuel Chiedoziem Nwaka, who spoke on behalf of the group, expressed his delight at some of the programs that the Tinubu administration had implemented, especially the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP) and at what the two organizations were offering Nigerians.
“I appreciate you for what you are giving to students because the student population is the largest demographic in the country. I’ve spoken with many of them, and many have benefited from it.
“And the next one is the CREDICORP. That’s a major way of fighting corruption. You see a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done. I’m following their activities; we are delighted,” he said.
Other members of the delegation were Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo, and Hon. Ezewauwa.
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
March 13, 2025
Peoples Gazette
We are here to serve you news and information.
Your donations, reactions, and advert placement are welcome.
Contact us on 08033783144 (WhatsApp)
08023469999(WhatsApp)
idowuadelusi@yahoo.com,adelusiidowu@yahoo.com, idowuadelusi@gmail.com,
thepathfindernews0@gmail.com
Follow our reports also on X @idowuadelusi and Facebook (Idowu Oluwole Adelusi)