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Nigeria would have been bankrupt if we hadn’t taken actions – Tinubu

President Bola Tinubu says Nigeria would have become bankrupt if his administration had not acted when he came into power in May 2023. 

According to him, for many years, Nigeria was spending the money of generations yet unborn and at the same time supplying fuel to the West Coast region.

He stated this when he spoke at the State House in Abuja while receiving a delegation of former National Assembly colleagues from the aborted Third Republic, during which he served as a Senator representing Lagos West.

“For 50 years, Nigeria was spending money of generations yet unborn and servicing the West coast of our subregion with fuel. It was getting difficult to plan for our children’s future,

We faced serious headwinds when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse.  President Tinubu declared that the administration had been able to stem the tide and expressed appreciation to Nigerians for their collective support in turning things around.

Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”