*President Bola Ahmed Tinubu restates the basis of his administration’s far-reaching economic reforms is to protect the interests of future generations of Nigerians, noting the country was spending money of generations yet unborn while servicing the West coast of the subregion with fuel in the past 50 years

Alexander Davis | 绿帽献妻

President Bola Ahmed Tinubu Thursday, March 13, 2025, restated the rationale behind his administration’s ongoing economic reforms, saying the primary motive of the measures is to protect the interests of future generations of Nigerians.

Lamenting the lack of futuristic plans in the past several decades, President Tinubu declared: “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.鈥�

Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy Thursday, in a statement, disclosed President Tinubu made these remarks in the State House, in Abuja, FCT, while receiving a delegation of former National Assembly (NASS) colleagues from the aborted Third Republic, during which he served as a Senator representing Lagos West.

The Nigerian leader also highlighted the challenges faced at the beginning of his administration, especially economic and social issues.

He, however, expressed his gratitude for the delegation’s support in addressing these difficulties.

The President said: “We faced serious headwinds when I took over, very challenging times.

鈥淣igeria would have been bankrupt, if we had not taken the actions that we took, and we had to prevent the economy’s collapse.鈥�

According to Tinubu, the administration has been able to stem the tide, as he expressed appreciation to Nigerians for their collective support in turning things around.

The Nigerian leader also stated: “Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising.

鈥淔ood prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”

President Tinubu noted the firm adherence to democratic tenets is the best route to economic, social, and political development of Nigeria.

He said: “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 programmes 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 organisations were offering Nigerians.

Nwaka stated: “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.

鈥淵ou 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.鈥�

Onanuga disclosed other members of the delegation to the State House were Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo and Hon. Eze Nwauwa.

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