President Bola Ahmed Tinubu has said Nigeria has moved past the most difficult phase of its economic challenges, stating that state governors no longer need to borrow money from banks to pay workers’ salaries.
President Bola Tinubu has said Nigeria has weathered severe economic challenges and is now experiencing signs of recovery, noting that state governors are no longer taking bank loans to meet salary obligations.
The President made the remark on Monday during an interfaith breaking of the fast with religious and traditional leaders at the Presidential Villa in Abuja.
Tinubu said the country faced a difficult financial situation when his administration assumed office but stressed that reforms introduced by the government had helped stabilise the economy.
According to him, the nation has avoided a potential financial collapse and is gradually moving toward economic stability. He added that pensioners are beginning to receive relief and that state governments are now in a better fiscal position.
The President explained that the fact that governors can now pay salaries without resorting to emergency borrowing from banks reflects improved revenue flows and better financial management across states.
Tinubu also assured Nigerians that his administration would remain committed to policies aimed at strengthening the economy and improving living conditions.
On security, he said the government would continue efforts to combat terrorism and other threats to national stability, insisting that Nigeria would not surrender to forces seeking to destabilise the country.
During the gathering, traditional and religious leaders from across the country prayed for peace and unity, while pledging support for government initiatives aimed at economic recovery and national development.
