President Bola Tinubu has asserted that Nigeria would have faced bankruptcy if not for the prompt and decisive measures taken by his administration upon assuming office.
Speaking at the State House in Abuja while hosting a delegation of former National Assembly colleagues from the aborted Third Republic, Tinubu reflected on the economic challenges his government inherited and the steps taken to prevent financial collapse.
“We encountered serious economic headwinds upon taking office. Nigeria would have been bankrupt without the actions we implemented to stabilize the economy,” he stated.
The president expressed appreciation to Nigerians for their support in overcoming the crisis and noted progress in stabilizing key economic indicators.
“Today, we have laid a solid foundation. The challenges are reversing—the exchange rate is stabilizing, and food prices are declining, especially during Ramadan. There is light at the end of the tunnel,” he assured.
Tinubu also underscored the significance of democracy in fostering economic, social, and political development. He commended his former colleagues for their dedication to democratic principles.
“I appreciate your commitment to democracy. Some lost sight of its importance, and leadership failures occurred, but we remained steadfast in our beliefs. Today, I am a beneficiary of that democratic process,” he said.
His remarks come as his administration continues to implement economic reforms aimed at stabilizing Nigeria’s finances and improving overall economic conditions.
