Lagos, Nigeria – President Bola Ahmed Tinubu has spoken on the economic situation of the country as inflation rates soar daily.
The President who spoke about management, said Nigerians are really learning how to manage as they are constantly adjusting.
“Monopoly, no oligopoly. You have a free market economy flowing and people are learning management.
“My friend used to have about…he bragged to me, yes, five Rolls Royce. He brought a nice jeep here; the other day, I saw him in his Honda Accord.
“He said, ‘That’s where you put me.’ I said I didn’t put you there.
“He said that is because of fuel prices he could no longer maintain 5 limo type of vehicles,” Tinubu said.
President Tinubu stated this on Tuesday in a media chat televised on Arise TV and monitored by Converseer.
The President also boasted about security, noting that he is confident with the Security architecture of the country. He said his administration has made impassable roads passable.
“Confidence in my security architecture of the country. It is very, very unfortunate that you know, two decades of wanting killings.
“I remember when I jumped into the campaign. I had to stop the campaign to pay condolence visits to Maiduguri, Katsina, Kaduna, and all else. Today you can still travel the roads. Before now it was impossible.
“It takes one incident to mess up an organised environment. It takes one. You cannot say the military was not prepared when the night brigade battalion was attacked. You can’t laugh at your nation because of that.
“The enemies within and without are watching what you are doing. You have to be prepared 100%, 24 hours of the time to make sure that people are safe.
“Today that is not the story any longer. People can leave Kaduna and still go towards Kafanchan by road. Well, the road may not be that smooth. Gradually we’ll be there,” Tinubu stated.
He also talked about the debt deficit of the nation. According to him, “I will cry about borrowing. Today I have 60 from 98% thereabout of debt service. I brought it down to 68 there, about per cent. Give credit, please. We are managing it.
“We have exited what used to be a problem of ways and means where we have no financial control and physical discipline. More money going down for development. More revenue being generated are being distributed.”
He talked about local government autonomy and grassroots development as he also responded to former President Olusegun Obasanjo’s claims.
“Today we have autonomy for local governments. And some of you will remember my lamentation.
“My argument with Obasanjo about the need for grassroots development. When I created 37 Local Government Development areas for Lagos State – go there now, and you’ll see development. You see rapid, rapid contact with the people at the grassroots. That is where people live.
“They are not living with me in Abuja now, except bureaucrats. And we have to do that. Well, I would say I’m drawing water from a dry well and Nigeria is moving forward regardless of critics,” he said.
For the 2025 budget, President Tinubu stated, “This is a budget of restoration and hope. Nigeria is on the path of recovery. We can’t finish the job in one calendar year and I’m not giving myself an excuse. It’s only 18 months.”
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