Tinubu: Nigeria’s Economy Recovering, States No Longer Depend on Federal Salary Bailouts

President Bola Tinubu says Nigeria’s economy is recovering and states are no longer relying on federal government interventions to pay workers’ salaries.

Mohammed Idris, minister of information and national orientation, said Tinubu’s reforms saved 27 states from economic collapse.

Idris said about 27 states were unable to pay salaries owed to their workers before May 29, 2023.

Speaking on Friday while receiving members of the Nigeria Governors’ Forum (NGF), led by Vice President Kashim Shettima, on a Sallah homage at his Lagos residence, Tinubu said his journey to the presidency was marked by significant political and legal challenges.

“At the time, I faced the challenge of trying to become the President of the Federal Republic of Nigeria,” he said.

“It was very, very challenging. It was tough, for those who were in the party with me. Some kept faith, and instead of dodging the bullets, I took it. I took the point in the chin. Very hard work.”

The president said many governors and party members supported his ambition despite uncertainty about the policies his administration would eventually pursue.

“I didn’t disclose to anybody, what I would do. Many of you took the risk and went along because of the party platform and everything,” he said.

“We survived. You faced litigations and accusations, we survived it.”

Tinubu said Nigeria had avoided economic collapse and was now witnessing signs of recovery and growth.

“Instead of bankruptcy Nigeria has survived. The economy has recovered. It is growing. Agriculture is humming. Food is here,” he said.

The president thanked governors for helping to sustain public confidence in his administration during the implementation of economic reforms.

“You kept the spirit, you kept the hope, you persuaded our people to be patient, to endure these three years of painful reforms, while we put the economy on reset,” he said.

“Today, the benefit is showing. The economy has recovered, macroeconomic indices are doing very well.

“Construction is ongoing in roads, infrastructure. The ones abandoned are being rehabilitated. Housing industry is coming on very well.”

Tinubu added that the fiscal position of many states had improved considerably under his administration.

“I am glad that out of the 27 governors borrowing from the federal government and asking for interventions, we are no longer struggling to pay salaries. No more,” he said.

The president also highlighted the economic potential of ongoing infrastructure projects, including developments along the Sokoto-Badagry corridor.

“Today I was watching some clips of the Sokoto-Badagry axis, imagine how many dams on that corridor for irrigation, for farming land, for electricity,” he said.

Tinubu urged governors to maximise agricultural opportunities within their states to achieve food sufficiency.

The president said agriculture will prosper again, adding that Nigeria will achieve food sovereignty if the country effectively utilise the lands that are in various states.