President Tinubu Hits Buhari For Handing Over Serious Liabilities, Says No Excuses

President Tinubu Hits Buhari For Handing Over Serious Liabilities, Says No Excuses

President Tinubu Hits Buhari For Handing Over Serious Liabilities, Says No Excuses

The revenue generated by the Bola Tinubu-led administration is being used to repay what was taken from the country….

President Bola Tinubu has lamented that his administration inherited “serious liabilities” from his predecessors.

The President added that he also inherited assets from previous governments.

Charity Reporters had reported that the National Security Adviser (NSA), Nuhu Ribadu, indicted Buhari for handing over a bankrupt country.

According to him, the revenue generated by the Bola Tinubu-led administration is being used to repay what was taken from the country.

Ribadu who spoke at the Chief of Defence Intelligence Annual Conference 2023, however, explained that despite the financial constraint that had affected budgetary allocations, the Federal Government would do everything within its power to ensure a robust and viable defence management and apparatus in the country.

Speaking in a similar vein, President Tinubu, who spoke in Mecca, faraway Saudi Arabia, lamented that the country had serious deficits in port infrastructure, power infrastructure, and agro-allied facilities that will enable sustainable food security in the country.

The President’s spokesman, Ajuri Ngelale, disclosed this in a statement issued on Tuesday.

He said President Tinubu, on Monday night, in Mecca, Saudi Arabia, advanced negotiations concerning a multi-billion dollar infrastructure finance facility from the Islamic Development Bank to fund a multi-sectoral portfolio of infrastructure projects at the federal and sub-national levels in Nigeria.

This development was the outcome of substantive investment discussions held between President Tinubu and the Vice-President (Country Programs) of the Islamic Development Bank, Dr. Mansur Muhtar, after the President’s return from evening prayers.

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Quoting the President, he said, “Nigeria is the candle of hope that will light the way for Africa. And once Africa is illuminated, the world will be a brighter place for all of humanity. We are determined to create a future for our gifted youths. Investments in Nigeria will be among the world’s most high-yielding. Investor money will flow easily in and out of our country. Processes will be seamless. And your bank has always been a faithful partner in progress.

“We have serious deficits in port infrastructure, power infrastructure, and agro-allied facilities that will enable sustainable food security in our country. These deficits present unrivalled opportunity for savvy investors in a market that is by far the largest on the continent. Yes, we had the vision to enable Lekki Deep Seaport before others saw it. We must be bold again.”

“We inherited serious liabilities, but also assets from our predecessors. We do not make any excuses. There are several sectors replete with investment opportunity for smart investors. Access to finance and guarantees can be a hindrance in some cases. You can come in there. We see you as a critical enabler. You have partnered with us before. We want to scale it up now and do much more with greater ambition and clear vision,” the President also stated.

President Tinubu Hits Buhari For Handing Over Serious Liabilities, Says No Excuses