President Bola Tinubu has declared that Nigeria’s worst economic challenges are behind it. Speaking at the State House on Friday, Tinubu emphasized that when he assumed office, the economy was in a dire state, but through hard work, significant progress has been made to stabilize the nation.
The past year, according to Tinubu, has been both challenging and fulfilling. He acknowledged the economic difficulties faced at the start of his administration but expressed optimism about the future. “It has been challenging. It has been fulfilling as well. We took over, and we stopped the bleeding. I can say categorically now that Nigeria is no longer bleeding. And it will not bleed to death, but rather will now move to prosperity,” he stated.
Tinubu’s remarks came during a meeting with a delegation of the Yoruba Leaders of Thought. He emphasized that governance should be transformative, addressing the critical needs of citizens. Despite the obstacles, Tinubu assured that his administration is committed to navigating these challenges and leading Nigeria towards a prosperous future.
The President highlighted the importance of an effective local government system that promotes community development and delivers essential governance within a robust federal structure. He stressed that Nigeria’s local governments must not be suffocated by a unitary system but should thrive within the federal framework. “Local government administration is being suffocated. What I will not support is any effort to make the local government a unitary system by handing all core responsibilities to the federal government. That is criminal when there is a federal system,” he said.
Tinubu reassured Nigerians that his administration is dedicated to ensuring that every kobo spent translates to tangible benefits for the people. He promised to leave a legacy of prosperity for future generations by dismantling poor governance structures and expanding access to quality public services. “Our children will not inherit the burden of bad governance. Yet, they will enjoy the prosperity of Nigeria as a blessed nation from our very hands; from our sweat,” he declared.
Emphasizing ongoing projects, Tinubu noted that significant improvements are being made in healthcare, road infrastructure, and education. He urged citizens to hold their state governors accountable, highlighting the importance of synergy between federal and state governments. “Healthcare upgradation is ongoing. Road rehabilitation and construction is ongoing. Education development is ongoing. I am charging you to look at what is going on in the states. Pay attention to your state governors. Tell them to take their responsibilities seriously and make the people the focus of their development plans,” he advised.
The President also addressed the need for fiscal federalism, advocating for a revenue formula that aligns with federal principles and accommodates Nigeria’s growing population. He called for flexibility at the local government level to address the expanding geographical and demographic needs of the nation. “Our population is growing. It is getting larger. The geographical requirement is getting bigger, so we still want more space for housing. The population is growing. So that is the basis for flexibility at the local government level. We must grow and expand,” he explained.
President Tinubu expressed gratitude to the Yoruba Leaders of Thought for their support. He assured them of his administration’s commitment to living up to expectations and urged continuous faith in Nigeria’s future. “I can tell you that Nigeria is no longer printing paper money and deceiving itself that it has a base for survival. Nigeria went through terrible labor pains, but we have seen the baby coming out alive,” he concluded.
Tinubu’s optimistic outlook and calls for effective governance at all levels underscore his administration’s determination to overcome Nigeria’s economic challenges and pave the way for a more prosperous future.
