President Bola Tinubu Calls for Debt Reform and Power Revolution in Nigeria

In a passionate address at the Annual Conference of the Nigerian Bar Association in Abuja on Sunday, August 28, President Bola Tinubu has expressed deep concern over Nigeria’s current debt situation. He emphasized that his administration would not persist in allocating 90 percent of the country’s revenue to servicing external debts, warning that this path could lead to national destruction.

Tinubu asserted, “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 awaken from its slumber and gain respect among the world’s great nations. To build a great nation, we must make bold decisions; even though it may be painful at the moment, it is not about you and me. It is about our unborn generations.”

Furthermore, President Tinubu pledged that his administration would prioritize the generation and distribution of electricity to power the nation’s economy effectively. He voiced his concern about the lack of adequate electricity in most Nigerian homes and industries, stating, “Yes, it is a shame not to have adequate electricity for the majority of homes in Nigeria and to power our industries. How can we address poverty without electricity? We can uplift many people from poverty with uninterrupted electricity supply. Poverty is not acceptable, and we must eradicate it.”

President Tinubu’s bold stance on debt management and his commitment to resolving the electricity crisis in Nigeria have set the stage for crucial reforms in the nation’s economic and energy sectors.

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