President Bola Tinubu has declared that Nigeria will not sustain “failed economic theory” that sees to the wastage of 90 percent of its scarce revenue in the servicing of external debts in the midst of many development challenges facing the country.

The President made the statement on Sunday in Abuja while declaring open the Annual conference of the Nigerian Bar Association at the Velodrome, Chief MKO Abiola Stadium, Abuja.


While energizing the gathering of 16,190 lawyers in attendance with an extemporaneous speech, Tinubu stated that the prosperity Nigerians require will only occur once poverty is banished from the society with the focused cooperation of Nigeria’s private sector leaders, many of whom were present at the opening ceremony.

“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 said.

Speaking on the theme of the conference, “Getting it Right: Charting the Course for Nigeria’s Nation-Building,” the President stated that hard decisions must be made to set the country on a growth trajectory, despite the initial pains which meaningful reforms usually bring.

“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,” he said.


Against the backdrop of the judicial reforms he undertook as Lagos State Governor, Tinubu renewed his commitment to deal conclusively with the pressing issue of remuneration for judicial officers and legal practitioners, noting that true justice reform must begin with world-class salaries and benefits for legal professionals in Nigeria.

“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. 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,” the President exclaimed.


Referring to the keynote address delivered by the Chairman of UBA Plc and Heirs Holdings, Mr. Tony Elumelu, whom he praised for setting an agenda for economic growth and development, Tinubu bemoaned the inability of the country to eradicate poverty and tackle poor electricity supply, despite Nigeria’s abundance of gas.

He made a commitment that his administration will ensure that Nigeria generates and distributes the electricity the economy requires to thrive.

“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 uninterrupted electricity supply. Poverty is not acceptable, and we must banish it,” President Tinubu concluded.

In his welcome address, 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.”


The conference was attended by the Attorney General of the Federation, Prince Lateef Fagbemi; Chief of Staff to the President, Femi Gbajabiamila; Minister of Federal Capital Territory, Nyesom Wike; Minister of Sports, Senator John Enoh; former Secretary to the Government of the Federation, Boss Mustapha, past NBA Presidents and many senior government officials.

Ofunaofu:

President Bola Tinubu has declared that Nigeria will not sustain “failed economic theory” that sees to the wastage of 90 percent of its scarce revenue in the servicing of external debts in the midst of many development challenges facing the country.

The President made the statement on Sunday in Abuja while declaring open the Annual conference of the Nigerian Bar Association at the Velodrome, Chief MKO Abiola Stadium, Abuja.


While energizing the gathering of 16,190 lawyers in attendance with an extemporaneous speech, Tinubu stated that the prosperity Nigerians require will only occur once poverty is banished from the society with the focused cooperation of Nigeria’s private sector leaders, many of whom were present at the opening ceremony.

“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 said.

Speaking on the theme of the conference, “Getting it Right: Charting the Course for Nigeria’s Nation-Building,” the President stated that hard decisions must be made to set the country on a growth trajectory, despite the initial pains which meaningful reforms usually bring.

“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,” he said.


Against the backdrop of the judicial reforms he undertook as Lagos State Governor, Tinubu renewed his commitment to deal conclusively with the pressing issue of remuneration for judicial officers and legal practitioners, noting that true justice reform must begin with world-class salaries and benefits for legal professionals in Nigeria.

“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. 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,” the President exclaimed.


Referring to the keynote address delivered by the Chairman of UBA Plc and Heirs Holdings, Mr. Tony Elumelu, whom he praised for setting an agenda for economic growth and development, Tinubu bemoaned the inability of the country to eradicate poverty and tackle poor electricity supply, despite Nigeria’s abundance of gas.

He made a commitment that his administration will ensure that Nigeria generates and distributes the electricity the economy requires to thrive.

“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 uninterrupted electricity supply. Poverty is not acceptable, and we must banish it,” President Tinubu concluded.

In his welcome address, 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.”


The conference was attended by the Attorney General of the Federation, Prince Lateef Fagbemi; Chief of Staff to the President, Femi Gbajabiamila; Minister of Federal Capital Territory, Nyesom Wike; Minister of Sports, Senator John Enoh; former Secretary to the Government of the Federation, Boss Mustapha, past NBA Presidents and many senior government officials.

https://dailytrust.com/tinubu-i-wont-sustain-failed-theory-of-servicing-debt-with-scarce-revenue/

Ofunaofu:


Reno Omokri is now an authority that now warrant you quoting his personal opinion

yarimo:
so I am now your authority that you quote me

Ofunaofu:


You didn't make any comment

Praxis758:
This man should have transited from the realm of making promises to a phase of actualising his agendas.

Someone should wake him up that campaign is over, business of governance has started.

ORIENTATION101:
he is literally telling you the reason why the economy is going through rough patches. Servicing debts with 90% revenue is not sustainable. That's why fuel subsidy and naira subsidy have to go.
And the removal of subsidy and naira subsidy is the cause of pain to the masses, but they need a bit of patience, the policy is a good one that just needed time

Brendaniel:


But government subsidy can stay? that is why the presidency still has over 10 presidential jets that gulp hundreds of billions every year, senate gulps over a trillion every year and other numerous spendings for govt officials gulping trillions, if they were removing subsidy for the people, they should have removed for the govt too, so that we can save more as they claim, abi is saving not the target again?

Oga, you have been deceived......

ORIENTATION101:
your ignorance is very loud. Where did you get this ridiculous lies😂😂.
Senate budget yearly is less than 300b, Aso rock yearly budget is around 500b
Fuel subsidy yearly cost nigeria 10trillions
Naira subsidy yearly cost Nigeria around 4trillions naira

Now use your sense here which one should go first?

Brendaniel:


Oga, shut up, go and do your analysis properly, when we say senate, it means lower and upper house, staff members both political and career, constituency projects and so on all for the purpose of legislation that can be per time, read the link there, you guys argue anyhow, that's 2.1 trillion in 2020

https://politicsdigest.ng/nass-gulp-2020-budget/

ORIENTATION101:
you re mischievous liar.
The constituency projects are not part of nass annual budget.

Oga, go and do your analysis properly, when we say senate, it means lower and upper house, staff members both political and career, constituency projects and so on all for the purpose of legislation that can be per time, read the link there, you guys argue anyhow, that's 2.1 trillion in 2020

https://politicsdigest.ng/nass-gulp-2020-budget/

But government subsidy can stay? that is why the presidency still has over 10 presidential jets that gulp hundreds of billions every year, senate gulps over a trillion every year and other numerous spendings for govt officials gulping trillions, if they were removing subsidy for the people, they should have removed for the govt too, so that we can save more as they claim, abi is saving not the target again?

Oga, you have been deceived......

taylor88:
Says a thief


Number one Cocaine trafficker in the entire world


Gloria B. Tinubu of Chicago university

Chicago transgender