We Inherited Assets and Serious Liabilities – Tinubu

President Tinubu, speaking from Saudi Arabia on Monday, stated that his administration inherited significant liabilities from the previous government while assuring that he would not offer any excuses
President Tinubu
President Tinubu Twitter

Meanwhile, the President has been actively engaged in negotiations for a multi-billion dollar infrastructure finance facility from the Islamic Development Bank, which are intended to support a diverse range of infrastructure projects at both the federal and sub-national levels in Nigeria.

This significant development emerged following in-depth investment discussions between President Tinubu and Dr. Mansur Muhtar, the Vice-President (Country Programs) of the Islamic Development Bank.

President Tinubu, as quoted in a statement by his Special Adviser on Media and Publicity, Chief Ajuri Ngelale, expressed optimism, saying, "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...” the President stated.

Noting the historic essence of President Tinubu’s swift and decisive economic reforms, the Vice-President of the Islamic Development Bank said the financial world has been monitoring events in Nigeria and has concluded that Africa’s largest economy means business this time.

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