Tinubu Reveals How Buhari Almost Bankrupted Nigeria; He Quickly Saved The Country

Tinubu reveals how Buhari almost bankrupted Nigeria; He quickly saved The country. The statement came hours after Muhammadu Buhari issued a statement Thursday afternoon reiterating his loyalty to the president and the ruling APC.

President Bola Tinubu on Thursday said he took over a Nigeria that was in the throes of bankruptcy after eight years of his predecessor Muhammadu Buhari.

“Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse,” Mr Tinubu said during a meeting with a group of supporters at the State House in Abuja.
The Nigerian leader has faced criticism for mishandling the economy after inflation soared for consumer items nationwide, a development analyst blamed mainly on the president’s decision to eliminate subsidies on essential petroleum products.

Mr Buhari was the first politician to be elected president on the platform of the All Progressives Congress, serving two terms of four years each from 2015 to 2023. He handed power to Mr Tinubu on the same platform, arguing during his last days in office that he had turned the nation’s socio-economic conditions around during his tenure.

Both leaders remained key political allies, and Mr Buhari issued a statement earlier on Thursday reiterating his loyalty to Mr Tinubu and the APC, following rumours that the former president was considering joining a budding alliance to defeat Mr Tinubu at the ballot in 2027.

It was unclear how Mr Tinubu’s statement would be received by Mr Buhari, who now lives in Kaduna following his exit from power.

A spokesman for the former president did not immediately return a request seeking comments about his successor’s statement Thursday night.

A State House press release said the president sought to assuage citizens that conditions would continue to improve after inflation showed signs of cooling in recent months.

Read the full press statement as issued by the president’s spokesman Bayo Onanuga below:
President Bola Ahmed Tinubu articulated on Thursday the rationale behind his administration’s economic reforms, saying the primary motive was protecting the interests of future generations.
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“For 50 years, Nigeria was spending money of generations yet unborn and servicing the West coast of our subregion with fuel. It was getting difficult to plan for our children’s future,” he said.

He made these remarks at the State House in Abuja while receiving a delegation of former National Assembly colleagues from the aborted Third Republic, during which he served as a Senator representing Lagos West.

The President highlighted the challenges faced at the beginning of his administration, especially economic and social issues, and expressed his gratitude for the delegation’s support in addressing these difficulties:

“We faced serious headwinds when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse.

President Tinubu declared that the administration had been able to stem the tide and expressed appreciation to Nigerians for their collective support in turning things around.

“Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”

He said firm adherence to democratic tenets is the best route to economic, social, and political development.

“I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball.

“Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefitting from it.”

Senator Emmanuel Chiedoziem Nwaka, who spoke on behalf of the group, expressed his delight at some of the programmes that the Tinubu administration had implemented, especially the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP) and at what the two organisations were offering Nigerians.

“I appreciate you for what you are giving to students because the student population is the largest demographic in the country. I’ve spoken with many of them, and many have benefited from it.

Buhari Almost Bankrupted Nigeria

“And the next one is the CREDICORP. That’s a major way of fighting corruption. You see a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done. I’m following their activities; we are delighted,” he said.

Other members of the delegation were Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo and Hon. Eze Nwauwa.

Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
March 13, 2025

Peter Obi Says Tinubu Kept His Promises; Pushed Dollar To N1,500, Fuel To N1,000, Rice To N100,000

Peter Obi saysTinubu kept his promises; pushed dollar to N1,500, fuel to N1,000, bag of rice to N100,000. Peter Obi, former Anambra governor and Labour Party presidential candidate in 2023, has derided President Bola Tinubu’s government for worsening economic conditions, blaming it for the naira’s collapse, soaring food prices, and rising petrol costs.

During his meeting with Bauchi governor Bala Mohammed on Thursday, Mr Obi mocked Mr Tinubu’s administration, stating that it had made things worse than it met them.

“Tinubu promised to continue where Buhari stopped. If you look at it, Buhari left the dollar at about N400, today it is about N1,500. Rice was about N40,000, it is now over N100,000. Fuel was about N300, it is now over N1,000. I can go on and on—everything has doubled and tripled. So, he has done exactly as he promised,” Mr Obi said.

Comparing Nigeria’s economy to Indonesia’s, Mr Obi said, “In Indonesia, a president was sworn in about the same time as another one in Nigeria. Ten years later, Indonesia moved their GDP from $800 billion to $1.3 trillion, and their per capita income from $3,000 to $5,000.

Tinubu Kept His Promises

“Here in Nigeria, our GDP fell from $500 billion to $200 billion, and per capita income dropped from $3,500 to below $2,000—that is the difference,” he added.

During the meeting, Mr Mohammed expressed readiness to work with Mr Obi to provide good governance to Nigerians.

Education minister Tunji Alausa Decries Proliferation Of Versities, Seeks Improvement Of Existing Ones

Education minister Tunji Alausa decries proliferation of Versities, seeks improvement of existing ones. Mr Alausa said that there was no need to put pressure on the president to establish new universities

The Minister of Education, Tunji Alausa, has hinged the current proliferation of universities on the increasing pressure being mounted by lawmakers.

Mr Alausa spoke at the third edition of the 2025 Ministerial Press Briefing in Abuja on Thursday.

The federal government is facing mounting pressure to reform the country’s education sector.

With almost 200 bills pending in the National Assembly for the creation of universities, there is a growing concern that the system is becoming overwhelmed.

Mr Alausa explained that renewing the capacities of existing institutions was more important than establishing new ones.

According to him, there is no need to put pressure on the president to establish new universities.

He said, “We must focus on our capacities. We need to stop this from happening. There’s so much pressure on the president. We have to at least be sensitive to it as well.

“They (lawmakers) are passing a lot of bills. Today I can tell you that there are almost 200 bills in the National Assembly. We can’t continue this. Even though we have a lot of them, the capacity for a university to admit is not there. What we need to do now is to rebuild the capacities so that we can offer more viable courses to our citizens.’’

He added that the enrolment rate was not commensurate with the recent number of universities.

“If you look at the entire enrolment together, the one per cent of private universities account for just 7.5 per cent of total undergraduate enrolment. The total number of undergraduate enrolments today is just about 875,000, which is at least fairly low.

We have universities with less than 1,000 undergraduate students, and there’s this intense demand for more universities to be opened. We have to stop that,” he said.

He added that several key proposals had been put forward to address the challenges facing Nigeria’s education sector.

Speaking on specialised universities, the minister appealed to the institutions to focus on their mandate.

According to him, there is a need to reduce the number of non-technical courses offered in specialised universities and instead make them available in conventional universities.

He also pledged the commitment of the federal government to reducing the number of out-of-school children and creating opportunities for them in tertiary institutions.

On speculation of scrapping the Tertiary Education Trust Fund (TETfund), Mr Alausa said the Education Tax Fund would continue indefinitely.

Education minister Tunji Alausa

“What we now need to do is to begin to open up more resources to develop infrastructure, build engineering workshops and build laboratories in these universities.

We also must recruit international standard teachers so that we can begin to get these universities to deliver high-quality education that will be known throughout the country.

“When it comes to the education tax, I think a tax fund is going to be advanced now because I’ve heard some information in the new tax bill about tax funds being subsidised by the year 2030,” he said.