President Bola Tinubu has warned that Nigeria must embrace reforms for progress and prosperity or face the risk of collapse.
Speaking during a national broadcast on Tuesday to mark the country’s 64th Independence anniversary, the President highlighted his administration’s decision to reform both the political economy and defence architecture since taking office 16 months ago.
He expressed concern over the challenges Nigeria has faced due to missed opportunities and errors from the past, urging citizens not to allow those mistakes to impact the country’s future.
“We found ourselves at a dizzying crossroads, where we must choose between two paths: reform for progress and prosperity or carry on business-as-usual and collapse,” Tinubu stated.
Highlighting his administration’s achievements, Tinubu revealed that Nigeria has attracted over $30 billion in foreign direct investment and has reduced its debt service ratio from 97% to 68%.
“Despite all these, we have managed to keep our foreign reserve at $37 billion. We are moving ahead with our fiscal policy reforms,” he added.
The President also discussed initiatives to alleviate the high cost of living and improve food production, pointing to agricultural programs in several states, including Kebbi and Nasarawa.
He further commended the Central Bank of Nigeria’s efforts in stabilizing the foreign exchange market.
On security, Tinubu announced significant victories in the fight against Boko Haram and banditry, with over 300 commanders eliminated within the past year.
“Our target is to eliminate all the threats of Boko Haram, banditry, kidnapping for ransom, and the scourge of all forms of violent extremism,” he emphasized.
Addressing recent flooding and other natural disasters, the President promised federal assistance and disaster relief measures.
He also highlighted efforts to re-engineer Nigeria’s political economy, including the planned financial autonomy for local governments.
In conclusion, Tinubu emphasized the importance of national unity and called for the younger generation’s involvement in shaping Nigeria’s future, announcing a 30-day National Youth Conference aimed at addressing youth challenges and opportunities. “We are creating a pathway for a brighter tomorrow,” he assured.
