Tinubu laments debt servicing

President Bola Tinubu, at the Nigerian Bar Association (NBA) annual conference in Abuja, lamented the burden of debt servicing in Nigeria. He was of the view that if unchecked, the country would be heading to destruction.

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The President decried that 90 percent of Nigeria’s revenue cannot be devoted to servicing debt, especially, foreign debt.

President Tinubu had declared: “It’s a shame not to have electricity for the majority of homes in Nigeria. Poverty is not a shameful thing but it is not acceptable. We must banish it.

“Can we continue to service external debt with over 90 per cent of our revenue? it is a path to destruction, we cannot continue that. We have to make hard decisions.”

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The President, then, made a case for reforms and challenging adjustments.

The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, in a statement in Abuja, cited Tinubu to have said: “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.

“You are learned. I want to learn. Why are we so blessed and we are still lacking? We must have a change of attitude and a change of our mindset. We accuse our nation and its previous leaders.

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“We complain a lot of the past. Is that the solution? No! Let us look forward and be determined! God has given us what we need. We must work hard with determination to make our country great and it begins with you who are seated here with me.”