President Bola Tinubu discussed his economic reforms aimed at protecting future generations from financial mismanagement. He acknowledged the challenges faced upon taking office and expressed gratitude for public support. His administration’s initiatives, such as the Nigerian Education Loan Fund and CREDICORP, are designed to benefit students and combat corruption. Tinubu emphasized the importance of democracy in fostering development and stability in Nigeria.
On Thursday, President Bola Tinubu emphasized the necessity of his administration’s economic reforms, underscoring a commitment to safeguard future generations by ceasing the previous exploitation of funds. He lamented, “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.” This statement was made during a gathering with former National Assembly colleagues from the Third Republic at the State House in Abuja.
Addressing the initial challenges of his presidency, particularly concerning economic and social issues, President Tinubu expressed gratitude for the support received from the delegation. He noted, “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 asserted that his administration has managed to stabilize the nation’s economy, acknowledging the contributions from citizens. He commented, “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.”
He reinforced the importance of adhering to democratic principles as essential for socio-economic and political prosperity. The President expressed, “I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some leadership failed, but we kept the faith with our democratic beliefs and freedom.”
Emmanuel Nwaka, representing the visiting delegation, praised initiatives like the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP). He noted, “I appreciate you for what you are giving to students because the student population is the largest demographic in the country.” He articulated his satisfaction regarding the positive impact of CREDICORP, stating it offers new opportunities to young Nigerians entering the workforce.
The delegation included notable figures such as Bako Musa, Terwase Orbunde, Wasiu Logun, Amina Aliyu, Obi Anoliefo, and Eze Nwauwa, each contributing to the ongoing discourse regarding governance and economic reform in Nigeria.
In summary, President Bola Tinubu’s remarks highlight his administration’s focus on economic reform aimed at preserving the financial resources for future generations. He emphasizes the importance of democratic values and citizen support in overcoming initial challenges. Initiatives such as the Nigerian Education Loan Fund and CREDICORP illustrate his commitment to addressing the needs of students and supporting the youth in Nigeria. The administration remains optimistic about stabilizing the economy and achieving long-term growth.
Original Source: businessday.ng
