Nigeria's economy on path of recovery-Tinubu

..Says ‘We will do more to meet the needs of citizens’

..‘I have no cabal or sponsors to compensate’

President Bola Tinubu says the nation’s economy is on a gradual but steady path of recovery and assured citizens that his administration will do more to meet their needs.

In a meeting with traditional rulers led by the Sultan of Sokoto, His Eminence, Muhammad Sa’ad Abubakar III, and the Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, at the State House on Thursday, the President said the plight of citizens remains a deep concern, and will receive more attention.

“Yes, it is true that I asked for this job, and I approached some of you to support me. So, I have no excuse not to do the job with sincerity of purpose and honesty. I have committed myself to it diligently, and I will never look backwards.

“I have accepted the assets and the liabilities of my predecessor. How I will take Nigeria forward should be my concern, and that is my concern.

“I have been extremely busy. The only exercise I have had here is the walk from the residence to this place and then continue with the work.

“Nigeria is hilly, and it is the largest democracy in Africa. No other democracy comes close to us in terms of population on the continent. We cannot blame God for giving us these children, and we have to seek peace and better livelihoods,’’ the President said.

President Tinubu stated that the interventions to bring the government nearer to the people are already yielding results, with the activation of the student loan programme, the consumer credit scheme, and the affirmation of fiscal autonomy for local government councils.

He said the Ministry of Finance will continue to ensure that funds go to the grassroots for human and infrastructural development.

“Today, the Bank of Agriculture is empty. We have to reactivate it. If they are not talking about flooding, they are talking of banditry. We have to start all over again. Yes, infrastructural decay is there.

“The Lagos-Calabar coastal road is not being done without studies. It is an economic energizer. From it, we can create infrastructure along the route to develop wind energy and generate power, and we can expand our irrigation network.

“The economic viability of infrastructure has to be studied before we embark on projects. How many dams are there on the corridors of Sokoto- Badagry? From there, we can energize electricity. We can do irrigation and additional farms.

“Even if it is two million hectares of arable land, you can create opportunities for farmers on a small scale. Then you have to find capital for them.

“Nigeria is on the path of recovery. You have heard it from the Minister of Finance, Mr. Wale Edun. We are not afraid of protests. Our concern is the ordinary people, and the damages that will be done. Till today, I cannot forget the brand new 60 and 100 seater buses, down there in Lagos that were burnt down, and we are now complaining of transportation. That is the problem. That is why I must say thank you for talking to the citizens,’’ the President told the traditional rulers.

The President also said security was getting more attention and will be enhanced.

“Security is getting better, but we cannot take our eyes off the camera because it takes one accident for things to flare up. We are managing it.

“We have created instruments to support the students so that they get education, consumer credit to expand the economy, to improve the purchasing power of the people in order to rejuvenate the economy within a short period of time. We are still recalibrating our oil usage,’’ the President stated.

President Tinubu said he will continue to explain the economic reforms and projected benefits to the nation, adding that he remains open to dialogue for the development of the country.

President Tinubu urged the royal fathers to reach out to citizens on the genuine intentions of the government to deliver on its promises of Renewed Hope.

“Now, we are sending money to the local governments. I addressed the governors today on that issue. I have been distributing fertilizer, rice, and other items to support the recovery of citizens. I assure you, Nigerians, we are looking at the light at the end of the tunnel. I can assure you, this economy will be revived, will survive, and prosper,’’ the President emphasized.

In his remarks, the Sultan of Sokoto said: “I believe that this brief meeting will clear some issues that many people have in their minds. At our meeting on Monday, we had a very open discussion on all issues affecting the nation. We are the ones who will tell you the truth about what is happening in our various communities.’’

The royal father said an executive council meeting was held on Monday, and the Council, composed of all State Chairmen of the 36 States and the FCT, met to deliberate on the economy.

The Ooni of Ife thanked the President for inviting the National Security Adviser, Mallam Nuhu Ribadu; the Minister of Finance and Coordinating of Minister of the Economy, Mr. Wale Edun, the Minister of Budget and Economic Planning, Mr. Abubakar Atiku Bagudu, and the GCEO of NNPCL, Mele Kyari, to brief the traditional rulers on the state of the economy.

“We heard from the GCEO of NNPCL. They are the ones that propel our economy. We have heard from the Minister of Finance. We also heard from the Minister of Budget and the NSA. We want to encourage you, Mr. President, we will all get back to our various communities and let our people know because none of us locks our palaces,’’ the Monarch added.

Meanwhile, President Bola Tinubu has allayed fears of manipulation by any interest group in the ongoing economic reforms, saying his campaign was self-sponsored, without strings, or indebtedness to any individual or institution.

The President, who received a delegation of Islamic leaders led by Sheikh Bala Lau, at the State House on Thursday, said his victory at the polls was purely by divine intervention, careful planning, and diligence in getting support from Nigerians.

“I have no cabal. I have no sponsors. The money I spent on the elections was my personal fortune. At some point, the odds were against me; banks were locked. But Allah, the Almighty God, said I will be the President. Mine is to now follow the leading and teaching of the Almighty God.

“One of the most potent elements of defence is a good conscience. It is also a defence against corruption.

“What should be uppermost in our minds is the future of our children. We have a lot to teach them on what it takes to be a good citizen and what it takes to be a responsible citizen,’’ the President stated.

President Tinubu said protests, fuelled by anger and hate, could degenerate into violence and set the country backwards.

“We are reworking the social welfare scheme to reach the ward level, which is the closest to our people. We are going to ensure that we re-establish connection with the wards, again, so that we can give allowances to the poor and the vulnerable.

“The student loans will pay for school fees. There will be monetary support for the education of our children. The consumer credit will support citizens to buy cars and houses, and they can repay gradually.

“We have increased the minimum wage by more than 100 percent,’’ the President said.

President Tinubu said the sponsors of protests place their selfish ambitions above the national interest.

“The sponsors of protests do not love our country. They have no love for the nation. They do not understand citizenship. They have alternative passports.

“They are in different parts of the world holding meetings virtually.

“We do not want to turn Nigeria into Sudan. We are talking about hunger, not burials. We have to be careful. We should be careful with premature politics; politics of hate, and anger.

“The internet has made it possible to hold meetings in artificial settings. They hold meetings and sponsor anger,’’ the President told the religious leaders.

In his remarks, the leader of the delegation, Sheikh Bala Lau, assured the President of support with prayers and more sensitization.

“Peace is paramount for us in the country. The first thing Abraham asked God for was peace and guidance,’’ Sheikh Lau noted.