President Bola Ahmed Tinubu has defended the economic choices he made upon assuming leadership in 2023, arguing that the country's currency was saved from total ruin by those interventions.
Speaking during a campaign rally in Uyo, the capital of Akwa Ibom State, the president insisted that the naira would have suffered massive depreciation without his prompt intervention. According to Daily Post Nigeria, Tinubu said the currency would have become so devalued that citizens would have been forced to transport bundles of cash in wheelbarrows just to get by.
Tinubu painted a grim picture of the country's finances at the time he stepped into power, pointing out that state governments were sinking under heavy financial burdens. He revealed that 27 out of Nigeria's 36 state governors were unable to cover workers' monthly salaries, let alone settle accumulated pensions and gratuities when he assumed office.
Reflecting on those early days, the president maintained that decisive moves taken on his very first day in charge kept the economy from a breakdown. He stated that taking no action would have stripped the naira of all its purchasing power.
Looking ahead to the next general elections, Tinubu told supporters that the presidential poll scheduled for January 16, 2027, will be a major turning point that will shape the path of the country.
