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Tinubu Speaks On Nigeria’s Economic Hardship, Relying On Foreign Aid

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President Bola Ahmed Tinubu has stressed the importance of not depending on foreign aid to address Nigeria’s economic challenges.

The Nigerian leader made this observation on Wednesday during a Joint session with the National Assembly to commemorate his first year in office.

He stressed that Nigeria cannot solely rely on assistance from other countries to overcome its difficulties and called on the legislators to collaborate with the executive branch to improve the country.

“Nobody, no aid, no other institution or personality will help us unless we do it ourselves.

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“No number of aid coming from foreign countries or any other nation can do it. They (foreign nations) take care of themselves first. Let us work together to build our nation, not only for us but for generations yet unborn”, Tinubu said.

‘Nigerians Shouldn’t Blame Tinubu For Current Economic Hardship’

Meanwhile, a chieftain of the ruling All Progressives Congress (APC), Ismaeel Ahmed, has said that President Bola Tinubu should not be blamed for the country’s current economic challenges.

Ahmed, who acknowledged the struggle Nigerians are facing with the soaring cost of living and the surge in commodity prices, said during an interview on Channels Television’s Politics Today on Tuesday, that the difficult choices made by the present government were indispensable for the economic revival of the nation.

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He said: “Hard decisions were taken. None of these decisions was not promised during the campaign, not only by President Bola Tinubu but by other candidates as well.

“We are in a situation where things have to realign. The President has taken hard decisions, it is discomforting, we are all feeling the pinch, but I won’t say the President is to be blamed for.”

Naija News reports that ever since assuming office in May 2023, Tinubu has implemented a series of reforms with the goal of revitalizing the economy and promoting investment.

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However, these initiatives have resulted in an increase in the cost of living.

One of the President’s tough economic measures was removing the fuel subsidy, which has led to higher living expenses and transportation costs.

Additionally, Tinubu has adjusted the naira exchange rate by eliminating multiple rates, but this decision has caused a significant depreciation in the national currency’s value.

It is worth noting that prior to the presidential election on February 25, 2023, both Peter Obi from the Labour Party (LP) and Atiku Abubakar from the Peoples Democratic Party (PDP) had also pledged to end the era of fuel subsidy and unify the exchange rate.

Despite Tinubu’s relatively short time in office, there are already political calculations and alliances being formed in anticipation of the next electoral cycle. Reports have surfaced regarding discussions between Atiku and Obi.

In response, Ahmed stated that he was not surprised by the development and assured that his party would continue to deliver the benefits of democracy to the Nigerian people.

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