President Bola Ahmed Tinubu has said Nigeria was close to bankruptcy when he assumed office in May 2023, noting that the economic reforms introduced by his administration have helped pull the country away from the brink of financial collapse.
Tinubu made the remark on Friday during a Ramadan dinner with leaders of the Nigerian media at the Presidential Villa in Abuja.
The president used the occasion to defend key economic decisions taken by his government, particularly the removal of fuel subsidy, describing the move and other policy reforms as necessary steps to stabilise the nation’s finances and prevent an economic crisis.
“At the time we had to confront the subsidy, Nigeria was tilting on the edge of bankruptcy,” Tinubu said.
According to him, the responsibility of governing the country required taking difficult decisions to correct the nation’s economic trajectory.
“But having asked for the job and getting it, I cannot look back other than to make corrections as I move along and save the nation,” the president added.
“Today, I can stand proudly before you that we are back from that brink.”
Tinubu maintained that the reforms undertaken by his administration were aimed at restoring fiscal stability and putting the country on a sustainable economic path.
