President Tinubu Calls for Bold Economic Changes to Tackle Debt Crisis and Power Shortage

President Bola Tinubu has warned that Nigeria’s heavy reliance on servicing its debt with 90 percent of its revenue is a dangerous path that could lead to the country’s downfall. Speaking at the Annual Conference of the Nigerian Bar Association in Abuja, Tinubu stressed the urgent need for drastic measures to prevent the nation from heading towards destruction.

Tinubu highlighted the necessity for his administration to make challenging decisions aimed at improving the country’s overall situation. He stated, “Can we continue to service external debts with 90% of our revenue? It is a path to destruction. It is not sustainable. We must make the very difficult changes that are necessary for our country to get up from slumber and be respected among the great nations of the world.”

The president emphasized that the wellbeing of future generations was at stake and that the country must take steps to secure their future. He called for bold actions to establish Nigeria as a prominent and respected nation on the global stage.

Addressing the critical issue of electricity supply, Tinubu expressed his disappointment at the current state of affairs, describing the lack of adequate electricity for homes and industries as shameful. He acknowledged the vital role of uninterrupted electricity in alleviating poverty and pledged to work towards generating and distributing the required electricity for the economy to thrive.

Tinubu also underscored the importance of providing competitive salaries and benefits to judicial officers, asserting that genuine justice reform must begin with attracting and retaining top legal professionals through world-class remuneration.

The NBA President, Yakubu Maikyau, SAN, expressed confidence in President Tinubu’s ability to bring effective governance to Nigeria, citing his impressive track record as the former governor of Lagos State. Maikyau conveyed hope that Tinubu’s leadership would not only replicate his achievements in Lagos but surpass them for the greater good of the country.