President Bola Tinubu has said that the economy of Nigeria was bleeding as at the time he took over government, but that he has stopped the country from bleeding to death through hard work.
The President said that the past 12 months has been challenging and at the same time fulfilling, adding that the worst is over.
President Tinubu, who spoke when he received a delegation of the Yoruba Leaders of Thought at the Presidential Villa yesterday, May 24, said: “It has been challenging. It has been fulfilling as well. We took over, and we have stopped the bleeding. I can say categorically now that Nigeria is no longer bleeding. And it will not bleed to death, but rather will now move to prosperity. That is the promise that I made to you all, and it is also the charge that you gave to me.
“We are managing to swim through the pond. “The current is not a good one. We will turn the tide. We are turning the bend. This I assure you. I am being very careful. The worst is over for Nigeria. We will prevail. I thank the team who have been working really hard. All I can promise is that we will do whatever it takes. We are determined, and we will work so that all Nigerians can feel the impact of good governance.”
The President assured Nigerians that his administration would ensure that they get value for every kobo spent, and that his government would leave a lasting legacy of prosperity to future generations.
He promised to remove the yoke of poor governance and expand access to qualitative public goods.
“We will get value for our money, and it is not for ourselves, but for our children. Our children will not inherit the burden of bad governance. Yet, they will enjoy the prosperity of Nigeria as a blessed nation from our very hands; from our sweat.
“We will bequeath to them a nation full of pride and prosperity.”
President Tinubu called for the deepening of governance and the reinforcement of leadership across all levels of government and institutions, adding that his administration is committed to encouraging fiscal federalism and strengthening the system to enhance inclusion and equity for all Nigerians.
“Healthcare upgradation is ongoing. Road rehabilitation and construction is ongoing. Education development is ongoing.
“I am charging you to look at what is going on in the states. Pay attention to your state governors.
“Tell them to take their responsibilities seriously and make the people the focus of their development plans.
“Once there is synergy, then I can assure you that Nigeria will be one of the best nations that you will see anywhere on earth.
“Local government administration is being suffocated. People are looking at the opportunity to ensure that they survive and become more purposeful through community development programmes.
“What I will not support is any effort to make the local government a unitary system by handing all core responsibilities to the federal government. That is criminal when there is a federal system.
“We have a federal system. There is state and federal administration.
“We have two components. States must do whatever is in the best interest of their own process of administration.
“There is no one-size-fits-all. That is what we should do by looking at the revenue formula, and we must be consistent with federalism; fiscal federalism.
“Those are the things you should expect from me, not the knee-jerk reactions ahead of elections.
“Our population is growing. It is getting larger. The geographical requirement is getting bigger, so we still want more space for housing. “The population is growing. So that is the basis for flexibility at the local government level. We must grow and expand.”
President Tinubu called for continuous support for, and faith in Nigeria, saying that his government would live up to expectations.
“I can tell you that Nigeria is no longer printing paper money and deceiving itself that it has a base for survival. “Nigeria went through terrible labour pains, but we have seen the baby coming out alive.”

The Sultan of Sokoto, Alhaji Muhammadu Sa’ad Abubakar III, has swore that corruption will continue to escalate in Nigeria as long as there are political office holders
“The issue of corruption in Nigeria has been constantly discussed at every public and private fora, but unfortunately, it has refused to leave us. It’s important we commission a research to find out why it’s difficult to defeat corruption.
“It’s now normal for politicians to come to office and target the commonwealth of the people. They get richer overnight, and no one can question them. Some even become richer than the state. That’s sad.
“Unfortunately, this will continue to happen as long as we have political office holders, who come to office and do whatever they want with the resources of the people unchecked.”
The Sultan spoke today at the first quarterly meeting of the Nigeria Inter-Religious Council (NIREC) in Abuja.
According to him, after four or eight years, depending on their ability to manipulate the office, the rots continue in the system.
“We are living in very difficult and challenging times in this country and nobody should think or say otherwise. Even our leaders acknowledged that fact. Now, to know you have a problem means you have half of the solution.”
This was even as the co-chair of the body and President of the Christian Association of Nigeria (CAN), Archbishop Daniel Okoh (NIREC co-chair), encouraged his fellow religious leaders to join hands in the fight against cybercrime by first speaking loudly against it at different religious events.
“Together, we can make a difference and build a more just and ethical society for future generations,” he said.
Meanwhile, the Secretary to the Government of the Federation (SGF), Senator George Akume, in his speech, extended President Bola Tinubu’s appreciation to the religious and traditional rulers for the stabilising roles they have played, individually and collectively.
He said that the President also sent assurances that NIREC as an institution for peace and nation building, shall remain a key development partner in his administration.
Akume said that the administration remained focused on saving the economy through the implementation of programmes under the Renewed Hope Agenda. “Difficult decisions have been taken to prevent a total collapse of the system, and the government has never relented in expressing its deepest sympathy with the people over the resultant hardships Nigerians are passing through.
“But, at the same time, the government has left no stone unturned to positively change the trajectory of our economy, and to take sustainability measures to improve the standard of living of Nigerians. But, to enjoy the gains, all hands must remain on deck to fight corruption, cybercrime, and associated criminal tendencies, for the purpose of restoring our values and national integrity.
“Corruption is a deadly virus that destroys the fabrics of a nation in multi-dimensional ways. Corruption is the misuse and betrayal of trust, power and authority, for whatever purpose. Without formidable systems, institutions, integrity and character, no system and no individual can be insulated from it.
“It is not unusual, therefore, to find corruption within the political, traditional, faith-based, community, social, youth and family institutions and systems. Key players in these condemnable acts include parents, community leaders, business leaders, politicians, religious leaders, public sector employees, security agents, public office holders, judges, and administrators of schools, or anyone entrusted with power and authority.
“It has manifested itself in acts of dishonesty and it is couched in depravity, and inducement to do the wrong through improper and unlawful means. Corruption is an abuse of integrity and transparency by any person who has authority and power. This abuse can take the form of financial and non-financial advantages for selfish gains.
“The most worrisome is the meteoric but infamous rise in cybercrime among our youths on various digital platforms. The cancer of cybercrime is fast spreading globally with devastating consequences. These include the rise in terrorism, illicit monetary flow, ritual activities to acquire riches, modern slavery and human trafficking, disruption of economic systems through hacking and destruction of moral values through pornography, among others.
“The institutional battle to fight cybercrime has been through the EFCC, ICPC, the police, associated technology-based efforts and judiciary. Moderate successes have been recorded, especially in the areas of apprehension, prosecution, and conviction, as this remains work in progress.
“Sadly, addressing the challenge is assuming the dimension of an emergency, because of the involvement of scores of our youths who are leaders of tomorrow. Statistics point at the institutions of higher learning as breeding grounds. There is an urgency, therefore, in the collaboration that we want to forge in addressing it.”