President Tinubu has reasserted his determination to economic reforms – describing them as critical for Nigeria’s long-term stability notwithstanding the immediate hardships. While addressing former National Assembly colleagues from the Third Republic at the State House, Tinubu cautioned that decades of fiscal mismanagement had left the nation at the verge of collapse.
“For 50 years, we serviced the West African subregion with fuel while mortgaging our children’s future. Planning became impossible,” he stated, stressing that tough decisions were essential to prevent bankruptcy. He credited his administration with stabilizing the exchange rate, combating inflation and reducing food prices, specifically during Ramadan —describing these achievements as part of a broader strategy to build a sustainable economic foundation.
Tinubu linked economic progress to democratic perseverance —lauding past leaders for their commitment to freedom and governance despite challenges. “Some leadership failed, but we kept the faith,” he said, placing his administration’s policies as a continuation of Nigeria’s democratic journey.
Emmanuel Nwaka, spoke on behalf of the delegation where he praised initiatives like the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP) for expanding financial access. He stated that student loans were empowering the youth while CREDICORP was making home and car ownership more transparent, thereby reducing corruption.
Regardless of the concerns that the reforms may impose hardship, Tinubu’s administration insists they align with global best practices. The President remains confident that today’s sacrifices will lead to a more prosperous and stable future for generations to come.
