By Kamil Opeyemi
President Bola Tinubu has said the country could not continue to service its debt with 90 percent of its revenue.
According to him, the country was headed for destruction should that continue.
Tinubu made the comment on Sunday in Abuja while declaring open the annual conference of the Nigerian Bar Association (NBA).
He said his administration must make difficult changes to better the lots of the country.
He stated that the prosperity Nigerians require will only occur once the society is rid of poverty — with the cooperation of the country’s private sector leaders.
“Can we continue to service external debts with 90% of our revenue? It is a path to destruction. It is not sustainable.
“We must make the very difficult changes that are necessary for our country to get up from slumber and be respected among the great nations of the world.
“We cannot have the country we desire without the reforms we have initiated. It is painful at the beginning, in the short and medium term, but we must do what we have to do to take this nation to its great destiny. It is not about you and it is not about me. It is about our generations yet unborn, for whom we must bequeath a great and prosperous country, he said
Tinubu, who said there is hope for a great Nigeria, called for the cooperation and support of the private sector.
While describing the epileptic power supply in the country as “shameful”, President Tinubu, however, promised that his administration would ensure that Nigeria generates and distributes the electricity the economy requires to thrive.
“Yes, it is a shame not to have adequate electricity for the mass majority of homes in Nigeria and to power our industries. How can we address poverty without electricity? We can take many people out of poverty with an uninterrupted electricity supply. Poverty is not acceptable, and we must banish it,” he added
Speaking earlier, the NBA President, Yakubu Maikyau, SAN, expressed the confidence of the NBA in the ability of President Bola Tinubu to deliver good governance to Nigeria because of his pedigree and past track record of excellent performance in Lagos State, where he was the governor between 1999-2007.
“President Tinubu got it right in Lagos, and it is our considered expectation that as President of Nigeria, you will not only replicate your achievements in Lagos but surpass them for our country,” he said
Those present at the event include Lateef Fagbemi, Attorney-General of the Federation; Femi Gbajabiamila, Chief of Staff to the president; Nyesom Wike, minister for the Federal Capital Territory.
Others are John Enoh, minister of sports; Boss Mustapha, former secretary to the government of the federation, and other senior government officials.