Nigerian financial bleeding must stop – Tinubu declares

President Bola Tinubu has insisted that there is an urgent need to stop the bleeding in the nation’s financial system through speedy actions, saying he decided not to participate in the arbitrage entrenched in the country’s commercial system in order to rescue the country from collapsing.

The president, who arrived at the Lagos House, Marina at about 3.40 pm on Thursday, after he visited Ogun State, gave this position in Lagos at a state banquet organised for him by Governor Babajide Sanwo-Olu.

Tinubu said the country had no choice but to re-engineer the effectiveness of control and management of her resources in order to meet the obligation owed to her citizens.

“We need to stop the bleeding of our finances through speedy actions of fuel subsidy. We had no choice, from there, we must reengineer the effectiveness of control and management of our resources in order to meet the obligation owed to Nigerians by politicians.

“We are on and I am standing here reassuring you that I will not relent in working with all of you with available resources,” he said.

“You can afford to go under, you can afford to be Father Christmas to neighbouring countries. We can’t just afford the petrol subsidy and it is getting a hold on the foreign exchange. I could say I want to share in the benefits and participate in the arbitrage but God forbid. No. that is why you elected me, you chose me to bring about changes that will benefit not only you but your grandchildren and our tomorrow,” he added.

President Tinubu, after receiving a gift of Adamu Orisa symbol from Governor Sanwo-Olu, thanked and commended everyone who believed in the positive Nigerian project with him, promising to bring about changes that would benefit all, just as assured that he was poised to operate an open door policy and as well re-engineer the financial system of the country to enviable heights.

Governor Sanwo-Olu, in his remark, promised to join hands with the president’s administration in rebuilding Nigeria to an unprecedented height.

Dignitaries at the event include Vice President Kashim Shetimma; First Lady, Oluremi Tinubu, who arrived at about 4.17pm; National Assembly members led by Senate President Godswill Akpabio and House of Representatives Speaker Tajudeen Abass.

Others include: Governors Dapo Abiodun (Ogun), Hope Uzodimma (Imo), Abdullahi Sule (Nasarrawa), Babagana Zulum (Borno), Alex Otti (Abia), Fr. Hyacinth Alia (Benue), Bassey Otu (Cross River), Duoye Diri (Bayelsa), Yahaya Bello (Kogi) and Acting Governor Lucky Aiyedatiwa (Ondo).

Also present were former Minister of Works and Housing, Mr. Babatunde Fashola; Lagos State Deputy Governor, Dr. Kadir Obafemi Hamzat; former Governors Akinwunmi Ambode (Lagos) and Abdullahi Ganduje (Kano) and former Lagos Deputy Governor Femi Pedro.

Business leaders were led by Alhaji Aliko Dangote and Alhaji Rasak Okoya, while Royal fathers of Awori extraction were also present at the grand reception.