President Bola Tinubu articulated the need for economic reforms to protect future generations from fiscal mismanagement. He noted the challenges faced by his administration and highlighted improvements in economic stability. Initiatives like NELFUND and CREDICORP aim to support students and facilitate financial opportunities for youth, reflecting a commitment to democratic values and economic growth.
On Thursday, President Bola Tinubu addressed the economic reforms of his administration, emphasizing the need to guard the financial interests of future Nigerian generations. He noted that Nigeria had been utilizing the funds of unborn generations for the past fifty years, complicating future planning for the youth. This statement was made during a meeting with former National Assembly colleagues from the Third Republic, in Abuja.
President Tinubu acknowledged the challenging circumstances he inherited, particularly financial and social hurdles. During this meeting, he expressed appreciation for the delegation’s support in navigating these issues. He remarked on the serious economic struggles the nation faced and asserted that Nigeria would have faced bankruptcy without decisive actions taken by his administration.
Reflecting on progress made, President Tinubu stated that the situation is improving, with the economy stabilizing. He reported that food prices are decreasing, especially in the context of Ramadan, and expressed optimism about the nation’s economic trajectory. He also reiterated the importance of maintaining democratic principles for overall development in Nigeria.
Emmanuel Nwaka, speaking on behalf of the delegation, praised initiatives such as the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP). He highlighted the positive impact these programs have had on students, emphasizing that they represent a significant step in supporting Nigeria’s largest demographic. Nwaka underscored the role of CREDICORP in facilitating financial opportunities for young Nigerians, further enhancing economic prospects.
The delegation comprised notable figures, including Bako Musa, Terwase Orbunde, Wasiu Logun, Amina Aliyu, Obi Anoliefo, and Eze Nwauwa. Their discussions emphasized a collective commitment to addressing Nigeria’s pressing challenges while fostering a supportive environment for democratic ideals.
In summary, President Bola Tinubu’s remarks highlight the necessity of economic reforms aimed at securing the financial future of Nigeria’s upcoming generations. His acknowledgment of past spending habits and present challenges showcases a commitment to stabilizing the economy. Furthermore, initiatives like NELFUND and CREDICORP exemplify tangible efforts to uplift the student demographic and promote economic growth, enhancing prospects for Nigeria’s youth and the country as a whole.
Original Source: businessday.ng
