President Tinubu on Economic Reforms and Democratic Principles in Nigeria

President Bola Tinubu discusses his administration’s economic reforms aimed at protecting future generations, outlines the challenges faced, and expresses optimism about the nation’s economic recovery. He underscores the importance of democratic principles for national progress, highlighting positive developments such as stabilizing exchange rates and reducing food prices.

Nigerian President Bola Tinubu elaborated on the rationale behind his administration’s economic reforms, emphasizing the priority to safeguard the interests of future generations. Speaking at the State House in Abuja, he received a delegation of former National Assembly colleagues from the Third Republic, noting that for 50 years, Nigeria has been utilizing resources meant for future generations while struggling to plan for the welfare of its children.

President Tinubu acknowledged the considerable economic and social challenges his administration faced upon taking office. He expressed gratitude for the supportive delegation’s role in overcoming these difficulties, stating that the government had successfully deflected the looming economic crisis.

He asserted that proactive measures had been essential to prevent Nigeria’s potential bankruptcy, highlighting, “Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse,” affirming that the nation is now on a sound economic footing with stabilizing exchange rates and decreasing food prices, particularly during Ramadan.

Furthermore, President Tinubu reiterated his belief in the importance of adhering to democratic principles as the most effective pathway to achieving economic, social, and political progress. He expressed appreciation for the faith shown by the delegation in democracy, remarking on the historical efforts made to maintain democratic ideals and aspirations for governance.

He reflected positively on the administration’s progress, stating, “Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising. Food prices are coming down. We will have light at the end of the tunnel.”

In conclusion, President Bola Tinubu emphasized the necessity of economic reforms aimed at safeguarding future generations and overcoming Nigeria’s significant challenges. He highlighted the importance of democratic principles in fostering national development and expressed optimism regarding the economic recovery, as evidenced by stabilizing conditions. The proactive measures taken by his administration have begun to yield positive results, alleviating some of the critical issues facing the nation.

Original Source: dailypost.ng