Nigeria Would Have Gone Bankrupt Without Our Reforms – Tinubu

President Bola Tinubu has defended his administration’s economic reforms, stating that they were necessary to safeguard the country’s future.

According to a statement from his spokesperson, Bayo Onanuga, Tinubu made the remarks on Thursday at the State House in Abuja while receiving a delegation of his former National Assembly colleagues from the aborted Third Republic, where he represented Lagos West as a senator.

He criticized past economic policies, noting that for decades, Nigeria spent beyond its means, using resources meant for future generations and subsidizing fuel across the West African subregion. He stressed that such practices made it difficult to plan for Nigeria’s future.

Reflecting on the challenges his administration faced upon taking office, Tinubu expressed gratitude for the delegation’s support in tackling economic and social difficulties.

“We encountered serious obstacles when I assumed office—very tough times. Without the actions we took, Nigeria would have been bankrupt, and we had to act to prevent economic collapse,” he stated.

He assured Nigerians that his administration had laid a solid foundation, pointing to the stabilizing exchange rate and declining food prices, especially during Ramadan, as signs of progress.

Reaffirming his commitment to democratic governance, Tinubu emphasized that democracy remains the best path for economic, social, and political development.

“I appreciate your unwavering belief in democracy. Some leaders failed along the way, but we remained committed to democratic ideals, freedom, and the right to aspire to the highest office in the land. I am a beneficiary of that commitment,” he added.