During a recent state reception in Uyo, Akwa Ibom State, President Bola Tinubu defended his administration’s economic reforms, stating that the naira would have lost its value if immediate actions to eliminate fuel subsidies had not been taken when he assumed office. He emphasized that, under his leadership, 27 out of Nigeria’s 36 state governors struggled to fulfill salary obligations, highlighting a legacy of fiscal distress.
Tinubu asserted, “Today I stand before you able to say we are out of that tunnel,” referring to the economic challenges faced by the country. He warned that the naira’s exchange rate could have significantly worsened to ₦1,300 to the dollar, claiming that the currency still holds some value due to his government’s decisions.
Rejecting accusations of a return to previous subsidy practices, Tinubu used a biblical analogy likening Nigeria’s need to progress to the Israelites’ journey out of Egypt. He stated, “Nigeria will never go back to the subsidy,” reinforcing his administration’s commitment to the reforms.
In addressing political opposition, Tinubu challenged the leadership capabilities of figures like Peter Obi and Atiku Abubakar, accusing them of abandoning crucial responsibilities. He specifically criticized Obi over erosion issues in Anambra State and Atiku’s departure from the Peoples Democratic Party amid leadership disputes.
Furthermore, Tinubu highlighted his administration’s focus on education as a vital strategy against poverty, promising that funds recovered from the Economic and Financial Crimes Commission would support educational programs. “Taking education as the greatest weapon against poverty,” he remarked, assures that all financial recoveries would be directed towards enhancing educational opportunities.
In closing, the president called on Akwa Ibom residents to support his administration, reiterating his dedication to infrastructure projects like the Ibom Deep Seaport.
