Posted by Amarachi on Tue 05th Nov, 2024 - tori.ng
The President acknowledged the challenges Nigeria has faced, particularly regarding national debt, but he highlighted progress in economic recovery.
President Bola Tinubu
President Bola Tinubu has stated that his administration is committed to resolving the challenges facing the nation.
He pledged to tackle the nation's challenges head-on, pledging not to “run away from its responsibilities.”
This statement comes amid a cabinet reshuffle in October, where the President dismissed six ministers, appointed seven new ones, and reassigned 10 ministers to different portfolios. The remarks were made during the swearing-in ceremony of the new ministers at the Banquet Hall of the Presidential Villa.
Emphasizing a commitment to confront those exploiting Nigeria’s resources, President Tinubu vowed, “We have stopped the scavengers. We are going to stop completely the profiteers and smugglers of our resources across the country. We are not going to run away from our responsibility; we are going to face it, and we have been facing it head-on. This ship will not sink.”
The President acknowledged the challenges Nigeria has faced, particularly regarding national debt, but he highlighted progress in economic recovery.
“For us, it was a challenge when the nation was servicing its debt with 97 percent of its revenue, it’s nothing but the end of the cliff. But today, I can report to you that we brought that down to 65%, and we have never defaulted in paying or meeting all obligations, both foreign and domestic,” Tinubu said.
President Tinubu also noted that the country's economy is on a recovery path despite global difficulties, adding, “We have our head above the water; all other countries too around us and across the world are facing challenges. In fact, there’s a lot of crime in Europe and America. What the pandemic has brought to the economies of the world, but we are navigating through this, and we are working hard.”
Addressing the new ministers, Tinubu advised them to remain resilient and undistracted by criticisms. “You will be part of criticism and abuse. Don’t worry; stay focused, stay resilient. Your thanks will come with the history of growth and prosperity for this country,” he encouraged.
Expressing his pride in the team, Tinubu remarked, “It is my joy and honor to be part of you, to be responsible for over 200 million people in this country. We have taken the bull by the horn... We are going to stop completely the profiteers and smugglers of our resources across the country.”