President Bola Tinubu on Thursday admitted that the nation’s finances is bleeding profusely, vowing to stop the bleeding and reposition the country in the right direction.
He also said he decided not participate in the arbitrage entrenched in the country’s commercial system in order to rescue the nation from collapsing.
Tinubu spoke at a banquet organised for him by the Lagos State Governor, Babajide Sanwo-Olu, at the State House, Marina.
According to Tinubu, “We need to stop the bleeding of our finances through speedy actions of fuel subsidy, we had no choice, from there, we must reengineer the effectiveness of control and management of our resources in order to meet the obligation owed to Nigerians by politicians.
“We are on and I am standing here reassuring you that I will not relent in working with all of you with available resources.”
He added: “We can’t afford to go under, we can’t afford to be Father Christmas to neighbouring countries. We can’t just afford the petrol subsidy and it is getting a hold on the foreign exchange.
“I could say I want to share in the benefits and participate in the arbitrage, but God forbid. No! that is why you elected me, you chose me to bring about changes that will benefit not only you but your grand children and our tomorrow.’’
The President also thanked everyone who believed in positive Nigerian project with him, promising to bring about changes that would benefit all, operate an open door policy and as well re-engineer the financial system of the country to enviable heights.
The host, Lagos State Governor, Babajide Sanwo-olu, promised to join hands with the President’s administration in rebuilding Nigeria to an unprecedented height.
At the event were the Vice President, Kashim Shettima; First Lady Oluremi Tinubu, National Assembly members, led by Senate President Godswill Akpabio and House of Representatives Speaker, Tajudeen Abass.
There were also Governors Dapo Abiodun (Ogun), Hope Uzodimma (Imo), Abdullahi Sule (Nasarrawa), Babagana Zulum (Borno), Alex Otti (Abia), Fr. Hyacinth Alia (Benue), Bassey Otu (Cross River), Duoye Diri (Bayelsa), Yahaya Bello (Kogi) and Acting Governor Lucky Aiyedatiwa (Ondo).
Former minister of Works and Housing , Babatunde Fashola; Lagos State Deputy Governor Obafemi Hamzat; former Governors Akinwunmi Ambode (Lagos) and Abdullahi Ganduje (Kano) and former Lagos Deputy Governor Femi Pedro, were present.
There were also Africa’s richest man, Aliko Dangote and Alhaji Rasak Okoya, among others.