President Bola Tinubu has said the economic challenges bedeviling the state of Nigeria’s economy has ended and the country is no longer “bleeding.”
Reflecting on his first year in office during a meeting with the Yoruba Leaders of Thought at the State House, Tinubu acknowledged both the difficulties and achievements of his administration.
“It has been challenging. It has been fulfilling as well. We took over, and we have 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. That is the promise that I made to you all, and it is also the charge that you gave to me,” he stated.
President Tinubu emphasized the need for a robust local government system that promotes community development and delivers essential services within a strong federal framework. He highlighted the importance of transformative governance that meets citizens’ critical needs and assured that despite the challenges, the worst is over for Nigeria.
“We are managing to swim through the pond. The current is not a good one. We will turn the tide. We are turning the bend. This I assure you. I am being very careful. The worst is over for Nigeria. We will prevail. I thank the team who have been working really hard. All I can promise is that we will do whatever it takes. We are determined, and we will work so that all Nigerians can feel the impact of good governance,” Tinubu said.
He also reassured Nigerians that his administration is committed to ensuring that public funds are used effectively and that the legacy of prosperity is passed on to future generations, free from the burden of poor governance.
“We will get value for our money, and it is not for ourselves, but for our children. 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. We will bequeath to them a nation full of pride and prosperity,” he promised.
Moreover, Tinubu stressed the importance of enhancing governance and leadership across all government levels, promoting fiscal federalism to ensure greater inclusion and equity for all Nigerians. He urged attention to ongoing initiatives in healthcare, road construction, and education, calling for synergy between state and federal efforts.
“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. Once there is synergy, then I can assure you that Nigeria will be one of the best nations that you will see anywhere on earth,” he said.
Addressing the need for effective local governance, Tinubu condemned any move to centralize local government functions, advocating for a true federal system.
“Local government administration is being suffocated. People are looking at the opportunity to ensure that they survive and become more purposeful through community development programmes. 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.
“We have a federal system. There is state and federal administration. We have two components. States must do whatever is in the best interest of their own process of administration. There is no one-size-fits-all. That is what we should do by looking at the revenue formula, and we must be consistent with federalism; fiscal federalism. Those are the things you should expect from me, not the knee-jerk reactions ahead of elections,” he declared.
Acknowledging the challenges posed by Nigeria’s growing population, Tinubu called for flexibility and expansion at the local government level to accommodate the increasing needs for housing and infrastructure.
“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 said.
In closing, President Tinubu thanked the Yoruba Leaders of Thought for their support and confidence in his administration, assuring them that the government would strive to meet their expectations.
“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 labour pains, but we have seen the baby coming out alive,” he concluded.
