President Bola Tinubu emphasized his administration’s focus on economic reforms to protect future generations. He noted challenges upon taking office, but expressed optimism about progress, including stabilizing the exchange rate and reducing food prices. The commitment to democracy is highlighted as essential for growth, alongside beneficial programs like NELFUND and CREDICORP that assist students and young graduates.
On Thursday, President Bola Tinubu outlined his administration’s economic reforms, emphasizing the necessity of safeguarding the financial interests of future generations. He asserted, “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.”
Speaking at the State House in Abuja, President Tinubu addressed a delegation of former National Assembly colleagues from the aborted Third Republic, highlighting the significant challenges he encountered at the start of his term, particularly regarding economic and social issues. He expressed gratitude for the delegation’s support during these trying times, stating, “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.”
The President noted that the administration had successfully managed to prevent an economic collapse and expressed thanks to Nigerians for their collective efforts in improving the situation. He stated, “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.”
He also affirmed that a staunch commitment to democratic principles is vital for economic, social, and political progress. President Tinubu remarked, “I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land.”
Emmanuel Nwaka, representing the group, voiced his approval of various programs implemented by the Tinubu administration, particularly the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP). He emphasized their significance, stating, “I appreciate you for what you are giving to students because the student population is the largest demographic in the country.”
Nwaka elaborated on the impact of CREDICORP, explaining how it aids young graduates in financial matters, saying, “That’s a major way of fighting corruption. You see a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done.” Other members of the delegation included Bako Musa, Terwase Orbunde, Wasiu Logun, Amina Aliyu, Obi Anoliefo, and Eze Nwauwa.
In summary, President Bola Tinubu’s economic reforms are focused on safeguarding the financial future of Nigeria’s upcoming generations and addressing pressing economic challenges. His administration has seen progress in stabilizing the economy, with decreasing food prices and improvements in the exchange rate. The commitment to democratic principles remains a cornerstone of his strategy for national development, alongside support programs like NELFUND and CREDICORP, which aim to empower the youth population.
Original Source: businessday.ng
