President Bola Tinubu has said the country could not continue to service its debt with 90 percent of its revenue.
He noted that the country was headed for destruction should that continue.
Tinubu spoke during the Annual Conference of the Nigerian Bar Association on Sunday in Abuja.
He said his administration must make difficult changes to better the lots of the country.
Tinubu said, “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.
“To build a great nation, we must make bold decisions; even though it may be painful at the moment, it is not about you and me. It is about our generation yet unborn.”
Tinubu, who said there is hope for a great Nigeria, called for the cooperation and support of the private sector.
He said, “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.
Speaking on the epileptic power supply in the country, the president described the situation as shameful.
He, however, promised that his administration would ensure that Nigeria generates and distributes the electricity the economy requires to thrive.
Tinubu said, “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.”
On remuneration for judicial officers, Tinubu stated that true justice reform must begin with world-class salaries and benefits for legal professionals in Nigeria.
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.”
“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,” Tinubu’s media aide Ajuri Ngelale’s Sunday statement quoted him as saying.
Tinubu is also promising to look into the remuneration of judicial workers, while lamenting Nigeria’s external debt servicing figure, describing it as “unsustainable”.
“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,” the President added.
‘A Change of Attitude’
The former Lagos State governor equally told the gathering that Nigerians need to change their attitude to make the country great.
“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,” he said.
“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.”
