President Bola Tinubu on Thursday stated that his administration inherited a “near-insolvent” treasury and a chaotic economic structure upon assuming office in 2023, but has since implemented bold and painful reforms that are beginning to yield results. Speaking during a state visit and grand reception in Awka, the Anambra State capital, Tinubu said the financial state of the nation was dire when he took over, citing massive public debts, “unsustainable multiple subsidies”, and an unstable foreign exchange regime. “We met near-insolvent public finance, a decades-old monster of unsustainable multiple subsidies,…
Read MoreEconomic Reforms Not To Punish Nigerians, But To Avert Collapse, Says Tinubu
