President Bola Tinubu has revealed Why Nigeria lacks 24/7 electricity and world-class airports.
In a national address to mark Independence Day, Tinubu said Nigeria is beginning to recover from what he described as years of fiscal mismanagement and poor policy decisions.
He reiterated his administration’s commitment to economic transformation, defending a string of reforms introduced since taking office.
Speaking on Wednesday, the President recalled inheriting what he termed a “near-collapsed” economy upon assuming office on May 29, 2023.
He attributed the situation to decades of policy distortions and fiscal imbalance. “As a new administration, we faced a simple choice: continue business as usual and watch our nation drift, or embark on a courageous, fundamental reform path,” he stated.
“We chose the path of reform. We chose the path of tomorrow over the comfort of today. Less than three years later, the seeds of those difficult but necessary decisions are bearing fruit.”
The President referenced his controversial decision to eliminate fuel subsidies during his inauguration as a necessary move, acknowledging that while the policy caused immediate hardship, it was a crucial step toward economic recovery.
According to Tinubu, Nigeria has “turned the corner” and is now poised for sustainable growth. He urged citizens to remain resilient, emphasising the urgent need for investment in infrastructure, education, and healthcare to ensure long-term development. “We do not have enough electricity to power our industries and homes today, or the resources to repair our deteriorating roads, build seaports, railroads, and international airports comparable to the best in the world, because we failed to make the necessary investments decades ago. Our administration is setting things right,” he said.
Reassuring Nigerians, the President noted that the most difficult part of the reform process was behind. “Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding. I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour,” Tinubu said.
