President Bola Tinubu has said that Nigeria would not sustain failed economic theory that sees to the wastage of 90 per cent of its scarce revenue in the servicing of external debts, in the midst of many development challenges facing the country.
The President spoke yesterday in Abuja while declaring open the yearly conference of the Nigerian Bar Association (NBA) at the Velodrome of the Chief MKO Abiola Stadium, Abuja.
While energising the gathering of 16,190 lawyers in attendance with an extemporaneous speech, President Tinubu stated that the prosperity Nigerians requires would only occur when 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.
Addressing the gathering yesterday, the President said: “Can we continue to service external debts with 90 per cent 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.”
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 affirmed.
Against the backdrop of the renowned judicial reforms he undertook as Lagos State governor, President Tinubu renewed his commitment to deal 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 the country.
“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 mindset. We accuse our nation and its previous leaders. We complain a lot about 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, who he praised for setting an agenda for economic growth and development, President 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 would 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,” he concluded.
The conference was attended by the Attorney General of the Federation, 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.
Recall that Tinubu had hugged the headlines last year during the NBA yearly conference held in Lagos when he failed to show up for the debate the lawyers organised for presidential candidates of leading political parties, and instead sent the Vice President, Kashim Shettima, to represent him.
