Group commends Tinubu for increasing foreign reserve to $37bn
…says administration cleared ways, means of inherited debts, passes vote of confidence in Tinubu
By Tom Okpe
A group, North East All Progressives Congress, APC Youth Stakeholders Forum, has commended President Bola Ahmed Tinubu for increasing the nation’s foreign reserve to $37bn.
Chairman of the group, Comrade Haruna Sardauna while addressing a press conference at the APC National Secretariat, Buhari House, Abuja on Thursday also said the administration cleared the ways and means of inherited debt, by previous administrations.
He said: “The administration of President Tinubu has reduced the debt service ration from 97 percent of our total revenue to 68 percent. Despite all these, it has managed to keep the foreign reserve up at $37bn and continue to meet all other obligations and pay our bills without resorting to borrowing like before.
READ ALSO: Senate Passes Vote Of Confidence on Senate President
“This administration also cleared the ways and means of inherited debt, which was what was being used to keep forex under Obasanjo, Jonathan, and Buhari’s administrations, for the Naira to exchange at its lowest actual value. So, the way and means a debt of over N30 trillion was cleared by Tinubu’s administration without incurring any.”
Quoting the President, Sardauna said: “Like the President said, we found ourselves at a dizzying crossroads, where we must choose between two paths: reform for progress and prosperity or carry on business-as usual and collapse. We decided to reform our political economy and defense architecture.”
He called on Nigerians to persevere and support the Tinubu administration saying:
“There will be a better Nigeria; let’s persevere and support the Tinubu administration to succeed! These achievements showcase President Tinubu’s dedication to transforming Nigeria. We applaud his efforts and look forward to continued progress. The enemies and saboteurs of this administration will not succeed.
“We will continue to advocate to Nigerians on his laudable efforts aimed at taking Nigeria to greater height.”
On other achievement of Mr President like education, youth empowerment, educational loan, N100bn for youth trustfund, infrastructural development and other laudable achievements, Sardauna said; “We, the Northeast APC Stakeholders Forum is passing a vote of confidence in President Bola Ahmed Tinubu’s administration.”
