Tinubu Advocates Economic Reforms for Future Generations

President Bola Tinubu announced that his economic reforms aim to protect future generations, reflecting on past fiscal issues in Nigeria. He acknowledged challenges faced upon taking office but emphasized improvements in the economy, including stabilized exchange rates and reduced food prices. He praised democratic principles and highlighted recent programs benefiting students, receiving support from former colleagues during his address.

President Bola Tinubu emphasized that his administration’s economic reforms are aimed at safeguarding the interests of future generations. During a meeting at the State House with former National Assembly colleagues from the Third Republic, he remarked on Nigeria’s previous fiscal irresponsibility, stating, “For 50 years, Nigeria was spending money of generations yet unborn.” He indicated that such practices hindered the ability to secure the future for subsequent generations.

Tinubu detailed the difficulties encountered at the onset of his presidency, particularly regarding economic and social strife. He expressed gratitude for the support from the delegation in confronting these challenges. He stated, “Nigeria would have been bankrupt if we had not taken the actions that we took,” highlighting the necessity of decisive actions to avert an economic collapse.

The President reassured the delegation that improvements had been made, stating, “Today, we are sitting pretty on a good foundation.” He noted stabilization in exchange rates and a decrease in food prices during the Ramadan period, looking forward to brighter prospects for the nation.

A steadfast commitment to democratic principles was underscored by Tinubu as critical for achieving economic progress. He praised the group’s ongoing belief in democracy and expressed appreciation for their enduring support, stating, “I thank you for keeping faith and remembering how we started.”

Senator Emmanuel Nwaka, representing the group, commended the initiatives undertaken by the Tinubu administration, particularly the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP). He highlighted the positive impact of these programs on students, stating, “I’m following their activities; we are delighted.”

Members of the delegation included prominent figures such as Sen. Bako Aufara Musa and Terwase Orbunde, who also expressed their support for the administration’s ongoing reforms.

In summary, President Bola Tinubu articulated his administration’s commitment to protecting the financial interests of future generations through significant economic reforms. Overcoming initial challenges, the government has initiated stabilization within Nigeria’s economy, reinforcing the importance of adherence to democratic values. The positive reception of new initiatives like the Nigerian Education Loan Fund further illustrates the administration’s focus on beneficial social programs.

Original Source: nannews.ng