Economy
Tinubu Reveals How Buhari Almost Bankrupted Nigeria; He Quickly Saved The Country
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
Customs Seizes 34,470L Of Smuggled Petrol At Taraba-Cameroon Border
Customs seizes 34,470L of Smuggled petrol at Taraba-Cameroon border. The Nigeria Customs Service (NCS) has intensified its crackdown on fuel smuggling, seizing 34,470 liters of Premium Motor Spirit (PMS) and a heavy-duty transportation truck in a three-hour operation along the Taraba-Cameroon border.
The enforcement, led by the Customs’ Operation Whirlwind unit, targeted smugglers operating through Gembu and Kan-Iyaka in Sardauna LGA, a known smuggling corridor.
Speaking at a public auction in Jalingo, Comptroller General of Customs, Bashir Adewale Adeniyi, disclosed that the operation was carried out with support from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Office of the National Security Adviser.
Adeniyi explained that intelligence from the inter-agency intelligence fusion center detected unusual fuel movement patterns in the Sorofi and Kan-Iyaka areas between March 8 and 9, 2025.
Acting on this, field teams executed a series of coordinated interceptions, disrupting what appeared to be an emerging smuggling route.
The seizure included 1,149 Jerry cans of PMS, each containing 30 liters, totaling 34,470 liters. A specialized transportation truck valued at ₦4 million was also confiscated, bringing the total duty-paid value to ₦37.78 million.
Adeniyi noted that a significant portion of the smuggled fuel was intercepted in Gembu, while 180 Jerry cans and the truck were seized en route to the Kan-Iyaka border crossing.
Cameroon Border
Describing fuel smuggling as a threat to national security and economic stability, Adeniyi urged security agencies to remain vigilant. He stressed that petrol is vital to economic activities and warned that shortages could slow down the economy.
He reaffirmed the NCS’s commitment to tackling smuggling networks and safeguarding Nigeria’s energy sector and economic interests.
Akwa Ibom Lawmaker Covers Medical Bills For Patients At Palmer Memorial Hospital
Akwa Ibom Lawmaker covers medical bills for patients at palmer memorial Hospital. For patients at Palmer Memorial Hospital in Ikot Usen, Ibiono Ibom Local Government Area, financial hardship often stood between them and life-saving treatment. That changed when Rt. Hon. (Barr.) Ime Basy Okon, the Member Representing Itu-Ibiono Ibom Federal Constituency, stepped in to settle outstanding medical bills, offering patients a renewed chance at life.
The compassionate gesture came during Day 2 of the ongoing free medical and surgical outreach sponsored by the lawmaker across Itu and Ibiono Ibom Local Government Areas. While inspecting the outreach on Day 1, Okon learned of emergency cases where patients remained stranded due to unpaid hospital bills.
Moved by their plight, he personally cleared their debts a decision he emphasized was outside the outreach’s budget, but a private intervention to support his constituents in urgent need.
Among the beneficiaries was Abasima Offiong, who had suffered a spinal cord injury and required emergency surgery. With no means to cover the cost, his condition was critical, until Hon.Okon’s intervention ensured his procedure was fully funded.
Another case was Idongesit Ndifreke, who had undergone a Caesarean section but remained in the hospital for over two weeks due to unpaid bills. The lawmaker’s generosity not only secured her discharge but also allowed her to return home with her newborn.
Akwa Ibom
One of the most harrowing stories involved a woman whose unborn child had died in the womb. Lacking funds for an emergency procedure, her life hung in the balance. Overcome with emotion, Okon immediately took over the cost of surgery, ensuring swift medical intervention to save her life.
Speaking during the event, the lawmaker reaffirmed his commitment to humanitarian efforts. “When God blesses us, we should also be a blessing to others,” he said, underscoring the importance of compassion and community support. Grateful beneficiaries and their families hailed Okon’s intervention as both timely and life-saving.
As the free medical and surgical outreach continues, it remains a beacon of hope for residents of Itu and Ibiono Ibom, reinforcing Okon’s dedication to accessible healthcare and the well-being of his constituents.
Government Approves N1.149bn For Solar Street Lights, Infrastructure In Gombe
Government approves N1.149bn for solar street lights, infrastructure in Gombe. He said the governor approved the projects to align with his vision for infrastructure development.
The Gombe government has approved N1.149 billion for the installation of solar street lights and other infrastructure in three local government areas of the state.
Mahmood Yusuf, director-general, Joint Project Development Agency, stated this at a news conference on Thursday in Gombe.
He said the Joint Project Council (JPC) meeting chaired by Gov. Inuwa Yahaya, approved the projects to align with his vision for infrastructure development.
Mr Yusuf listed the projects to include the installation of solar street lights on newly constructed roads in Kumo at the total cost of N740 million; fencing of the NALDA market and installation of solar street lights at Kwadon area of Yamaltu/Deba, costing N362 million.
He said that N47 million has been approved for the expansion of the grains market and construction of six public toilets in Billiri.
Mr Yusuf said that the N112 million grain market project was approved in 2024, but reviewed upward to N159 million, to provide six additional toilets.
The director said the council also approved the deployment of GOSTEC and Operation Hatara personnel, to scale surveillance in schools and cemeteries in the state.
He said the measure was sequel to complaints over spate of theft in public buildings by the ALGON Chairman, Sani Haruna.
“The council has resolved to implement stricter security measures by deploying GOSTEC and Operation Hattara to enhance surveillance. The scope of Operation Hattara would be expanded to cover all the 11 LGAs,” he said.
Muhammadu Inuwa Yahaya
Also, Fatima-Binta Bello, chairperson, Shongom Local Government Council, expressed readiness to consolidate on Mr Yahaya’s achievements in education and health sectors.
She stressed the need to strengthen human resources through recruitment of qualified personnel to address manpower gaps and enhance quality service delivery, especially at primary healthcare and basic education level.
Similarly; Ahmad Wali, chairman, Kwami LGC, said the council had initiated resurvey and remapping of grazing reserves and cattle routes to check farmer/herder clashes.
He warned that anyone found encroaching cattle routes and grazing lands would be sanctioned.
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