President Bola Ahmed Tinubu has declared that his administration successfully pulled Nigeria back from the edge of bankruptcy, assuring citizens that the economy is steadily turning the corner and showing clear signs of improvement.
The President made the statement on Monday night, March 10, 2026, while hosting religious and traditional leaders from across the country for an interfaith breaking of fast (Iftar) at the Presidential Villa in Abuja. The gathering united prominent Christian and Muslim leaders alongside traditional rulers during the holy month of Ramadan.
Reflecting on the economic situation inherited in May 2023, Tinubu described it as “very daunting and challenging,” but emphasised that decisive reforms had stabilised public finances and averted collapse.
“We have saved Nigeria from bankruptcy. It was very daunting and challenging when we took over. But today I can say with pride and joy that we have survived,” he stated.
He highlighted early positive outcomes of the reforms, noting that pensioners were beginning to receive relief and that the broader economy was showing recovery.
“I can report that the economy has turned the corner. It is getting better. Pensioners are gradually getting relief,” the President said.
Tinubu expressed personal gratitude for the opportunity to lead the nation and reaffirmed his commitment to faithful service.
“I am just grateful, one person among millions, that I have been given the opportunity to serve. All I can do is promise that I will continue to be faithful in discharging my duty,” he added.
The President also pointed to improved fiscal health at the state level, stating that many governors were no longer forced to take bank loans to meet salary obligations for workers — a situation he described as a marked improvement from previous years.
Tinubu reiterated the administration’s focus on long-term growth through increased investments in critical sectors such as agriculture and education, which he said were essential for sustainable prosperity and food security.
He urged Nigerians to remain hopeful and supportive, assuring them that the government was fully committed to building a stronger, more inclusive economy.
The President also used the occasion to recognise the vital contributions of religious and traditional leaders in fostering peace, unity, and moral guidance across communities amid national challenges.
The interfaith Iftar provided a platform for reflection on shared values and collective responsibility in advancing Nigeria’s stability and development. Leaders present offered prayers for continued peace, economic progress, and national unity during the holy month.
The President’s remarks come amid ongoing discussions about the impact of recent economic reforms — including fuel subsidy removal, exchange rate unification, and efforts to boost non-oil revenue — which have drawn both praise for long-term potential and criticism over short-term hardships faced by citizens. Tinubu’s assurance of recovery aligns with recent indicators such as rising external reserves, improved state allocations, and gradual pension payments, though inflation and cost-of-living pressures remain significant concerns for many households.
