President Bola Tinubu has lamented that Nigeria spent the last 50 years exhausting resources meant for future generations instead of investing in long-term development.
Tinubu made this remark during a meeting with former Third Republic senators at the Presidential Villa in Abuja.
The delegation, which included lawmakers who served alongside him when he was a senator representing Lagos West, visited him on Thursday, March 13.
According to a statement by presidential aide Bayo Onanuga, Tinubu emphasized that his administration’s priority is to secure a better future for the country’s younger population.
“For half a century, Nigeria was spending money meant for unborn generations while also servicing the West African subregion with fuel. This made it difficult to plan effectively for our children’s future,” the president stated.
Reflecting on the challenges his administration inherited, Tinubu asserted that Nigeria was on the brink of bankruptcy when he assumed office.
“We faced serious economic turbulence when I took over. If we had not acted swiftly, the country would have collapsed financially. Today, we have laid a strong foundation, stabilized the exchange rate, and food prices are gradually declining, especially during Ramadan. There is light at the end of the tunnel,” he added.
Speaking on behalf of the delegation, Emmanuel Nwaka praised the president’s policies, particularly initiatives aimed at students and economic reforms like the Credit Corporation (CREDICORP) scheme.
“I appreciate what your administration is doing for students. Many of them have benefited from it. The introduction of CREDICORP is also a major step in tackling corruption by making it easier for young people to access financial support instead of relying on cash transactions,” Nwaka said.
The visiting team included Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo, and Hon. Eze Nwauwa.