President Bola Tinubu explains that economic reforms are necessary to protect future generations, preventing potential bankruptcy. He acknowledges challenges faced by his administration and highlights improvements in stability and food prices, while emphasizing adherence to democratic principles as fundamental for progress.
Nigerian President Bola Tinubu has articulated the motivations behind his government’s economic reforms, emphasizing the importance of safeguarding the interests of future generations. During a meeting at the State House in Abuja with former National Assembly colleagues from the discontinued Third Republic, he underscored the need for proactive measures due to Nigeria’s financial struggles over the last 50 years.
He highlighted that the country has been depleting resources intended for future generations while heavily servicing the energy needs of its subregion. This has complicated long-term planning for Nigerian children’s futures. Tinubu expressed gratitude for the support received from the delegation as his administration confronts significant economic and social challenges.
The president noted that his administration confronted severe obstacles upon assuming office, asserting that Nigeria faced potential bankruptcy without decisive action. He articulated, “Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse.” He stated that the current situation indicates a recovery, with a stabilizing exchange rate and decreasing food prices, especially during Ramadan.
Tinubu reaffirmed that strong commitment to democratic principles is vital for economic and societal development. He commended the delegation for their ongoing belief in democracy, recognizing their faith in the democratic ideals that continue to express aspirations for national leadership.
In summary, President Bola Tinubu’s administration emphasizes economic reforms aimed at securing the future of Nigeria’s next generations. He asserts that decisive action was necessary to avert a potential economic collapse, leading to improved stability. Furthermore, he advocates for the importance of democratic principles in fostering national development and appreciates the support from former colleagues in this endeavor.
Original Source: dailypost.ng
