President Bola Tinubu has revealed that Nigeria was at risk of financial collapse before his administration intervened with critical economic measures.
Speaking at the State House in Abuja while hosting a delegation of former National Assembly members from the aborted Third Republic, Tinubu reflected on the economic crisis his government inherited and the steps taken to stabilize the nation.
“When I assumed office, we faced severe economic challenges. Without the decisive actions we took, Nigeria would have been bankrupt. It was crucial to act swiftly to prevent a total economic collapse,” he stated.
The president acknowledged the resilience of Nigerians, crediting their support as a key factor in navigating the financial storm. He highlighted ongoing improvements, particularly in stabilizing the exchange rate and reducing food prices, especially during Ramadan.
“Today, we are building on a stronger economic foundation. The situation is improving—the exchange rate is stabilizing, and food prices are coming down. There is light at the end of the tunnel,” he assured.
Tinubu also reiterated his belief in democracy as the most effective path toward sustainable economic, social, and political development. He commended his former colleagues for their dedication to democratic values and governance.
